Enterprise Risk Services debuts quarterly magazine
"Enterprise Risk" (Issue One), a quarterly magazine compiled by Enterprise Risk Service (ERS) of Deloitte China, was officially published in July 2010. The magazine brings together Deloitte ERS's leading knowledge, experience and distinctive insights through years of professional services in the area of enterprise risk, focusing on helping companies understand and exchange risk related topics and setting forth Deloitte's professional opinions.
Major contents in our inaugural issue include:
China's internal control reporting system officially launched
On 26 April 2010, the Ministry of Finance, China Securities Regulatory Commission, National Audit Office, China Banking Regulatory Commission and China Insurance Regulatory Commission jointly issued the "Notice Publishing Internal Control Guidance for Enterprises" together with three related supplementary guidelines, i.e. the Application Guidelines for Enterprise Internal Control, Assessment Guidelines for Enterprise Internal Control and Audit Guidelines for Enterprise Internal Control (hereinafter referred to as the "Implementation Guidelines").
- Implementation Guidelines are issued
This inaugural issue gives an interpretation of the Implementation Guidelines, and analyzes the missions and development of the companies, the consulting companies and the external auditors respectively.
- Move on, China listed companies
In February and March 2010, Deloitte ERS conducted a survey with about 100 Chinese listed companies. The survey results revealed that 84% of listed companies thought that strengthening and improving internal control was the best solution to enhance corporate governance. However, before the issuance of the Implementation Guidelines, many listed companies found the Basic Guidelines difficult to be implemented. The survey report can be found in this issue.
- Experience exchange from Ping An Group
In an internal control seminar organized by Deloitte ERS, the representative from Ping An Insurance (Group) Company of China, Ltd. shared their internal control project experience with approximately 200 participants.
- How to deal with the new internal control reporting system in China
From his professional perspectives and years of experience, a Deloitte expert pointed out that when dealing with the internal control reporting system in China, Chinese companies should consider comprehensively and pay attention to the actual effect. A detailed suggested plan by stage is provided.
- Comparison of internal control reporting systems in China, the U.S. and Japan
A Deloitte expert introduced the internal control systems of the U.S. and Japan, and highlighted the major differences in China, the U.S. and Japan's internal control systems and their different characteristics.
IT, do it by yourself or outsource it?
In this issue, we provide you with professional advice on risk management at all stages in the whole life cycle of a company's IT outsourcing.
Internal control practices
We will introduce the internal control practices in a series of articles. In this issue, we cover the topic "Basic concepts of internal control".