Licensing Revenue, How to get it all

Written by Veronika Fritz, Partner, Vonya Global Sales of licensed products has grown for the second consecutive year according to the International Licensing Industry Merchandisers’ Association’s (LIMA) 2013 Licensing Industry Survey. LIMA President Charles Riotto stated: “Our 2013 Licensing Industry Survey shows there is a lot to be optimistic about for retailers and companies of […]

Licensing Revenue, Are You Getting It All?

Written by Veronika Fritz, Partner, Vonya Global Sales of licensed products has grown for the second consecutive year according to the International Licensing Industry Merchandisers’ Association’s (LIMA) 2013 Licensing Industry Survey. LIMA President Charles Riotto stated: “Our 2013 Licensing Industry Survey shows there is a lot to be optimistic about for retailers and companies of […]

Law of Unintended Consequences Revealed – Chicago Public Schools Example

Written by Steven Randall, Partner, Vonya Global Almost everyone has heard of Murphy’s Law… that’s the one that states: “Anything that can go wrong, will go wrong, and then some.” It is also called the Law of Unintended Consequences, especially when it pertains to a decision you have to make. A number of years ago […]

Risk Materialized??? Controls Untested!!!!

Written by Steven Randall, Partner, Vonya Global In the video clip above a woman is walking up Michigan Avenue in Chicago. Why she decided to ignore the sidewalk and walk up the middle of the street is anyone’s guess. The video only captured a small portion of her solo parade which actually lasted for many […]

What is the problem with Big Data and Data Analytics?

Written by Steven Randall, Partner, Vonya Global Big Data is all the rage these days. From research and development, supply chain management, mergers and acquisitions, global expansion, marketing and advertising, and even Risk Management, Big Data drives Big Decisions. Within the realm of Risk Management, Big Data allows for the opportunity for organizations to run […]

Investors Beware: Accuracy in Financial Reporting is Not Important

Written by Steven Randall, Partner, Vonya Global The NASDAQ has announced that it is withdrawing their recent proposal requiring listed companies to have an internal audit function. Those who aggressively fought against the proposal are celebrating. Those who supported the proposal are significantly disappointed. Internal Audit is one of the essential pillars of corporate governance. […]

NASDAQ Internal Audit Requirement

Written by Sargon Youmara, Partner, Vonya Global The NASDAQ is making some changes. Are you ready? The NASDAQ has proposed a rule change similar to a rule implemented by the NYSE soon after the enactment of Sarbanes Oxley. The rule requires all companies listed on the NASDAQ as of June 30, 2013 to establish an […]

The Board of Directors and Strong Corporate Governance

Why do financial melt-downs and corporate fraud continue to happen? The implementation of effective corporate governance calls for a positive “Tone at the Top” displayed by corporate leaders who behave ethically and ensure that the business is run according to published ethical guidelines. However, among the CFO’s responding to a 2012 Global Fraud Survey by […]

Changes Are Coming… COSO Internal Control-Integrated Framework

Written by Sargon Youmara, Partner, Vonya Global Introduction – COSO Internal Control-Integrated Framework In 1992, the Committee of Sponsoring Organizations of the Treadway Commission’s (“COSO’s”) Internal Control-Integrated Framework (Framework) introduced a comprehensive internal control framework currently being used by most organizations within the United States and around the world. However, since 1992, many changes have […]

Audit Report with No Exceptions? Three reasons to follow up anyway

“If you perceive that there are four possible ways in which something can go wrong, and circumvent these, then a fifth way, unprepared for, will promptly develop.” That is Murphy’s Law, and unfortunately it applies to internal control environments everywhere. Even when the audit testing has found no exceptions and the financials have been signed, […]