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BarnOwl

Insights

It was the best of times, it was the worst of times

11 December 2017

And so, in the blink of an eye, another action-packed year has hastened past sowing turmoil and peace, fear and love, trauma and healing, decline …

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South Africa Risk Report Launch 2016

16 February 2016

IRMSA South African Risk Report Launch 2016 held on the 10th February 2016 The South African Risk Report was officially launched on the 10th February …

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Anarchy – A recipe for disaster, or the only choice left for humanity?

27 July 2016

“Anarchy in South Sudan: Mass looting of aid to leave many hungry and desperate” “Former police chief says we are on the precipice of anarchy” …

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The hidden risks of climate change

15 August 2016

The background Climate change is the change in average weather conditions over a long time period and includes temperature, wind, rainfall, length of seasons and …

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Good corporate governance starts with you

27 September 2016

I’ve had several interactions with people in the Governance, Risk, Compliance (GRC) and Internal Audit space who comment on a growing sense of excessive legislation. …

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Steps to the successful implementation of risk management software

24 October 2016

Software implementation: 1. Ensure you have an existing risk management policy, risk framework and methodology 2. Identify the risk champions and risk owners at the …

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WHY THE NEED FOR EFFECTIVE RM?

A decade ago, lack of risk awareness might have satisfied litigators in the aftermath of a loss event. However, today’s regulations have made board members …

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6 ways risk-based auditing adds value to your organisation:

26 October 2016

The value of the Internal Audit function is becoming increasingly critical to the strong corporate governance, risk management, effective internal control, and efficient operations of …

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It’s a turf war, on a global scale

29 March 2016

“Paris attacks will add to Wall Street anxiety”, “Thousands feared dead in terrorist attacks on US”, “Marikana violence is a sign of things to come”……. …

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The risk and reward of freediving

21 April 2016

Freediving refers to competitive breath-hold diving and is also known as competitive apnoea. The oldest evidence of freediving has been found about 10,000 years ago …

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The benefits of an effective RM strategy

26 April 2016

An effective, Enterprise Risk Management (RM) strategy has become widely recognized as a key contributor to the achievement of objectives within an organization, regardless of …

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So why the hesitancy to invest in effective Risk Management (RM)?

9 May 2016

SO WHY THE HESITANCY TO INVEST IN EFFECTIVE RISK MANAGEMENT (RM)? TYPICAL OBJECTIONS TO INVESTING IN RM AND POSSIBLE RESPONSES Despite evidence that mature RM …

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Internal Audit Performance versus Internal Audit Value. Is there a difference?

16 May 2016

The concepts of internal audit performance and value add are used interchangeably more often than not. How often has one heard that the internal auditors …

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Auditing talent to unearth potential – Talent management and its alignment to objectives

30 May 2016

South Africa’s unemployment rate recently clambered back over the 25% level, the highest reading since 2005, and the 12th highest unemployment rate globally. 5.7 million …

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Improving ourselves using nature.

27 October 2016

Humans have only been practicing science for a couple of hundred years yet nature has had the benefit of 3 billion years to design, test …

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Managing Risk at the coalface of service delivery

29 May 2017

Part One – An overview of Risk Management at a Local Government level In this, the first of a series of articles exploring the role …

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“Common sense just ain’t that common anymore” – Let’s get back to plain thinking

29 June 2017

We live in a modern information age of big data, enormous computing power, massive quantities of statistics, facts and figures at our fingertips and hundreds, …

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Internal Audit Software: Saving Costs and Boosting Efficiency

27 July 2017

Why implement internal audit software Besides being general best practice, Internal Audit Software provides an organisation with a systematic and disciplined approach to the audit …

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A 3-step Approach to Implementing Risk Appetite and Tolerance

1 August 2017

Step 1: Understanding Risk Appetite and Tolerance Whilst Risk Appetite deals with the level of risk that the organisation will pursue to meet their organisational …

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Good Corporate Governance – alive and kicking!

27 September 2017

Reading the news day in and day out it’s difficult to believe that the term ‘good corporate governance’ means anything anymore. Good corporate governance seems …

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BarnOwl Info Sharing session: 27 October 2016

4 November 2016

How to manage invisible risks that threaten your businessPresented by Terence Singh, Director, Ruhi Consulting We were delighted to have Terence Singh from Ruhi Consulting …

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RISK AND OPPORTUNITY – A NEW PARADIGM OR OLD NEWS?

The final draft version of the King IV Report on Corporate Governance in South Africa 2016 (King IV) places a different focus on the Governance …

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Navigating risk management through a sea of lies and disinformation

25 November 2016

The world of software abounds with examples of the impact of GIGO – garbage in, garbage out or even garbage in, gospel out. The Wikipedia …

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’Tis the season to be jolly…prepared!

6 December 2016

Another year has flown by at an unbelievable pace, and once again the holiday season has begun rampaging through shopping malls, saturating tourist destinations, ringing …

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King IV Report: Risk, Compliance and Assurance

9 December 2016

The following points are taken from the King IV report copyrighted to The Institute of Directors Southern Africa NPC. Introduction to King IV The definition …

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Reputational risk – make or break!

20 February 2017

I wonder if management and employees of an organisation really appreciate what goes into building a great brand and reputation. People buy from people and …

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Is risk management software the yellow brick road to risk maturity?

27 March 2017

Several surveys and studies conducted over the last few years have set out to clearly define, measure, and assess risk maturity using several indicators, attributes …

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Counting the cost of poor governance and reputational risk

26 April 2017

I suppose that by now we are all tired and worn out by all the bad news of the ratings downgrade and the strange decisions …

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Compliance – a business imperitive

3 February 2016

Many organisations see compliance as a ‘necessary evil’ and in many cases try to ignore it hoping it will go away. Whether we like it …

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Are we there yet?

2 October 2015

Risk management as a studied and documented practice is believed to have started evolving in the 1950’s, largely resulting from the reality that insurance, the …

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Risk management: why the flags matter

13 October 2015

If anything has shown why risk management should be one of the premier disciplines in any business, the VW saga stands out as probably the …

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Take heed of the signs

8 December 2015

We’ve come to that part of the year when a good number of people, employees and business owners, start to look forward to the end …

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4 Key Areas of Risk affected by Social Media

14 January 2016

The prolific rise of social media, particularly over the last 6 years has created many new commercial and marketing opportunities for business. Many organisations are …

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Key Updates to the IPPF framework you should know about

3 September 2015

In July this year the Institute of Internal Auditors (IIA) unveiled enhancements to its International Professional Practices Framework (IPPF). It’s important to know what’s changed …

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4 Ways Auditors Can Add Value to Your Organisation

30 June 2015

The value of the Internal Audit function is becoming increasingly critical to the strong corporate governance, risk management, effective internal control, and efficient operations of …

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GM Failure: Lessons to learn

19 June 2015

How does a corporation with an ERM program, which is recognized as one of the most effective worldwide, get caught in the grip of a …

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Risky Business – Making the big decisions

2 June 2015

Donald Trump, Bill Gates, Larry Ellison, Oprah Winfrey, Richard Branson, Warren Buffet, Sheryl Sandberg, Elon Musk. Recognized and acknowledged as some of the most successful …

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Still using Excel for Risk Management and / or Audit?

7 May 2015

Most of us and especially the younger generation understand the power and benefits of technology and yet we often choose to ignore better ways of …

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Risk Appetite and Tolerance Explained

1 April 2015

Having a defined Risk Appetite Statement is a crucial starting point to the Risk Management process. Risk Appetite and Risk Tolerance are terms that are …

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Demystifying Risk Management

There is a lot of debate (and often emotional debate) within the risk management fraternity surrounding various topics – from COSO framework versus the ISO31000 …

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Why all Risk Management Companies Need To Understand Human Nature

Risk management consulting and the companies involved in my opinion relates greatly to the article below. Fear of Flying 1 – Commercial Airlines A friend …

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Starting a compliance Function

21 July 2015

Many companies struggle to identify what to be compliant with let alone staying compliant with existing laws and acts. Compliance does not need to be …

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Managing and Auditing Ethics – Starting point or end goal?

5 August 2015

Ethical business practice is an ideal many corporations strive for, but often fall short of due to an overwhelming focus on the bottom line and …

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