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5 Tips for a Successful Virtual Audit
While the virtual audit (also known as a remote audit) has been around for a few years, the circumstances surrounding the global pandemic in 2020 certainly accelerated the performance of these types audits exponentially. These audits can bring many benefits to an organization (auditee) and the…
5 Biggest Benchmark Problems and How To Fix Them
As you may have heard from us a few times, benchmarking is a top tool used by leadership teams to support decision making. So, to dig into that topic, APQC surveyed over 200 professionals—across functional boundaries—to understand their benchmarking challenges. Benchmarking plays a vital…
Mitigating Risk By Improving Internal Controls
Many companies have ineffective internal controls programs due to an overwhelming amount of controls that don’t adequately consider risk. These organizations are only focused on testing the controls, and not on properly evaluating the effectiveness of controls when conducting a self–assessment or…
Roadmap to Better Internal Control Management
Many organizations take an approach to internal control management that has defined intersections with risk, compliance, and audit processes. These organizations may use well-defined risk control matrices (RCMS) based upon standards of internal control but they’re focused on only executing…
5 Macro Trends Shaping the Finance Function
The finance function has become an early testing ground and organizational bellwether for process and performance improvements. In tracking the massive shifts and accelerated trends coming out of 2020, APQC has seen finance functions lead the way on global trends involving transformation,…
What is Digital Transformation?
What is Digital Transformation? For the sake of this article, I will define the term by the two words that compose “digital transformation”: Digital and Transformation. Digital, or technology, AND transformation, or change, means that a digital transformation in your organization has produced a…
Remote Work is Here to Stay for Finance Teams
It’s hard to believe, but March 2021 marks more than one year since the pandemic hit the U.S. in full force. During that time, there have been many changes and challenges (both positive and negative), from scarcities in the supply chain, to new health, safety, and wellness protocols in the places…
Manual Processes Still Challenging Finance in 2021
2020 was a whirlwind of a year, and in addition to learning lessons from the past year, it is important to be thinking ahead to critical success factors for the year to come. To that end, in the fourth quarter of 2020, APQC recommenced its annual survey to understand the key priorities and…