2012

There are clear risks in administering employee management programs. Numerous laws govern human resources HR administration, making compliance a key concern. However, there is also a vital strategic component of employee management. In today s environment, key issues include training employees in a struggling economy, increases in fraud incidents, management/union relationship strains, and the baby boomer exodus.

In today s rapidly changing business climate, organizations are looking for proactive ways to foresee risks. To be successful, organizations must find ways to create new value and protect existing value from being prematurely destroyed. Managing the risks associated with any strategic plan is important to the organization s ongoing success. Internal auditors are an integral part of an organization achieving and sustaining success.

Do away with inefficiencies ant take a holistic approach to risk management and assurance. This report takes an in-depth look at how to implement and benefit from combined assurance. Risks today are so diverse that the internal audit function cannot provide assurance on its own; auditors have to coordinate with other assurance providers. Nevertheless, assurance providers often work in silos, leading to inefficiencies, inconsistencies, and a lack of transparency.