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Business continuity and disaster recovery: Top 10 operational risks for 2013
Risk    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Unusually low rates of disaster losses in the first half of the year were followed by the severe damage done by Hurricane Sandy to the Caribbean nations and the eastern U.S. The U.S. suffered estimated direct damage of $20 billion, rising to $50 billion once interruptions to business are taken into account. Last year's Top 10 highlighted the risk of hurricanes along the east and Gulf coast of the U.S. as a particular business continuity risk, and there are several reasons why hurricane damage will rise as a result of climate change. More



CEO guru: Managing risk
BBC News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Some business leaders believe that handling risk has become more difficult over the past decade or so. Chief executives must adapt to new circumstances. Not only do they have to have vision and a sense of realism, they must also become better at managing expectations. More

Looming strike spurs supply-chain angst
CFO    Share    Share on FacebookTwitterShare on LinkedinE-mail article
A labor strike that would begin December 30 could cripple East Coast and Gulf Coast ports, cost companies billions in lost revenue, and even impair the U.S. economic outlook for 2013, according to a new report. More

Twitter followers held hostage? The legal risks of outsourcing social media
International Business Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
At some point in the last five years, social media went from novelty to necessity — for businesses, brands and pretty much anyone who wants to communicate a message these days. The problem? Not everyone has the time to build and cultivate their social media presence, let alone maintain it. It should come as no surprise, then, that more and more companies are outsourcing their social media activities to marketing agencies that specialize in such things. That means things are bound to go wrong — and disputes between companies and the social media marketing agencies they hire are all but certain to arise. More

Catastrophe bonds: An innovative renewable energy risk management tool?
Greentech Media    Share    Share on FacebookTwitterShare on LinkedinE-mail article
What's the easiest way to avoid purchasing costly catastrophe insurance for your renewable energy project? Answer: Don't site your project in an area with a high probability of natural disasters. But this is easier said than done. Given the worrisome increase in the frequency of these disasters, combined with a growing demand for renewable energy in places where various natural disasters are frequent, avoiding these high costs is becoming more difficult. More



Have confidence in your compliance policies
ComputerworldUK    Share    Share on FacebookTwitterShare on LinkedinE-mail article
There are many factors that go into the determination of an organization's privacy policy, including statutory and regulatory requirements, company or organizational best practices, and market demands. It is important to understand that regardless of the source of the mandate, one challenge faces all enterprises: Once they have created their privacy policies, they must decide how they will enforce those policies and measure their effectiveness. On the surface this may seem like a simple task, but in practice it can be quite challenging. More

Relationships pose many risks, require vigilance from HR
Bloomberg BNA    Share    Share on FacebookTwitterShare on LinkedinE-mail article
With people spending more and more of their time at the workplace, some dating among co-workers is inevitable, so the best thing an employer can do is mitigate risk and liability with clear policies and procedures, according to attorneys. More

Bad bosses: How inept execs got away with mismanagement and scandal in 2012
AOL Jobs    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Numerous leaders at companies who presided over huge financial losses, disasters or other mismanagement, have escaped job loss, criminal charges or steep fines — the kinds of punishment deemed appropriate in such failures. In fact, some also walked away with golden parachutes worth millions of dollars, and found new and sometimes even better jobs. The regularity with which such instances occur raises important questions: Why aren't executives being held accountable? Are the financial reforms that were put in place by Sarbanes-Oxley in 2002 to protect shareholders and the general public from accounting errors and fraudulent practices a failure? More

A win for small businesses in a bank fraud case
The New York Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Computer security specialists say crimes called "corporate account takeovers," have become increasingly common, and small businesses are especially easy prey because many lack firewalls and monitoring systems. Worse, business owners often assume incorrectly that the protection they have on personal bank accounts applies to their business accounts as well. And unfortunately, if banks can show adequate security procedures, they have no legal obligation to reimburse businesses for attacks, as federal regulations do not cover commercial accounts. A court decision from this past summer, however, creates a precedent to change that. More

Build a strong team to comply with conflict minerals rule
Journal of Accountancy    Share    Share on FacebookTwitterShare on LinkedinE-mail article
There is no mistaking the effect that a new regulation regarding conflict minerals will have on manufacturers and their suppliers. Tracing the commonly used minerals of tin, tungsten, tantalum, and gold through intricate global supply chain networks will be no easy task. "This is one of the most complex compliance projects we've ever seen," Steve Starbuck, Ernst & Young's leader in the Americas for climate change and sustainability services, said during a recent webcast. More


 

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