The escalating cybersecurity threat environment is keeping compliance professionals on their toes, according to the latest Wall Street Journal survey. An overwhelming majority of companies (90%) reported an increase in cybersecurity risks over the past year, with nearly half describing the risk as having shot up substantially.
While Microsoft Office tools like Word, Excel, and Outlook are ubiquitous in businesses, relying solely on these manual methods for internal audit processes is highly inefficient and risky. Most organizations still use scattered documents, spreadsheets, emails, and SharePoint sites to manage audits, risk assessments, compliance activities, and other internal audit (IA) functions. However, this outdated approach has major drawbacks that can undermine IA effectiveness.
In today's dynamic business landscape, organizations face an ever-evolving risk landscape that demands a proactive and agile approach to risk management. Traditional methods of identifying and implementing controls for common risks are no longer sufficient as risks continuously adapt and transform. Effective risk management now requires vigilance, agility, and the ability to rapidly identify and address emerging threats while pursuing business goals and objectives.
The cybersecurity landscape is a battleground, and state and local governments find themselves on the frontlines. Cyber threats loom larger than ever, escalating in frequency and sophistication as we progress through 2024. While high-profile breaches often dominate headlines, state and local agencies are not exempt from the relentless barrage of attacks aimed at compromising sensitive citizen data and disrupting critical operations. This pivotal moment demands decisive action to fortify data privacy and security measures.
In a resounding validation of the burgeoning importance of governance, risk management, and compliance (GRC) technology, Corlytics has secured a substantial investment from Verdane, marking what could very well be a pivotal moment in the evolution of the GRC industry. This strategic partnership serves as a bellwether for the remarkable growth trajectory and importance of the broader GRC and RegTech sectors.
In response to the European Union's Digital Markets Act (DMA) coming into force, Google is making significant alterations to its operations. The move aims to ensure compliance with the new regulations and marks a pivotal moment in the tech giant's approach to business in the European Economic Area (EEA).