Howard Zev, Executive Vice President, Cura Software Solutions chatted to Enterprise Risk about the compliance challenges CEOs and compliance officer’s face and the latest solutions.

This article is based in part on our advisory and management
feedback as well as from having surveyedour global customer base, asking them what was at the top of their minds.

There is no doubt that spreadsheets have proliferated every area of the organization today. And no wonder why. How much simpler can it be to click an icon and in a few minutes perfectly formed calculations, grids, tables are used to convey a view or result of information.

Internal audit used to be all about financial controls. Then operational controls were added. Then Risk Management came along. Now, post the 2009 crisis, Internal Auditors need to evolve yet again. Regulators, stakeholders and management are all demanding more from the internal audit (IA) function.

Stakeholders rely too heavily on risk models and scenarios such as Value at Risk (VaR) and in the process lose sight of the business fundamentals.

With the ratification of the ISO31000 ERM Standards, there is finally a common set of terms and frameworks to define RISK.

Cura has once again been selected as a one of the world's top GRC vendors.