Using regulatory change as an opportunity to strengthen and rationalise internal controls
As UK regulators plan an Internal Controls and Governance directive, similar to the US Sarbanes-Oxley section 404 rules, this major insurer seized the opportunity to achieve its long-term ambition: creating a single library for its financial and non-financial controls spanning more than 200 core processes. This would significantly improve the company’s risk and control environment, while preparing for the new regulations. To achieve its goal, the insurer needed a new control framework and a new library.
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