EU Turnbull Legistlation, Basel Accord 153



  • I would be curious to find out how other companies subject to both SOX and Turnbull or Basel are working to combine their risk and control reporting.
    I know that risk reporting and monitoring obligations under Turnbull provides a good basis for entity level risk monitoring, and put an organization on the path to COSO’s ERM, but have not heard much about integration of this monitoring activity.
    I look forward to input, experiences.
    Best,
    Toby Lucich



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  • The UK’s Financial Reporting Council . The consultation runs until 30 November.



  • Hi, I am working for a insurance company. When we started our SOX work we adopted a integrated approach, meaning adressing SOX and operational Risk within one go. We had to learn the hard way that in our case it wouldn’t work having to meet the SOX deadline. Most of the involved Poeple were mixing up SOX and ORM risks and got very soon very confused. On Top of that SOX is consuming so many resources… So we ended up postponing the operational Risk Part until we reached the SOX deadline.


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