Turnbull Guidance Internal Control
Turnbull Corporate Governance
Financial controls are a key element of risk management and internal control and help in facilitating the efficiency and effectiveness of a company's operations including aiding regulatory compliance efforts such as HIPAA compliance, Sarbanes Oxley SOX Compliance and the Gramm Leach Bliley act.
Turnbull Guidance
The Turnbull Guidance provides a set of best practices on internal control and risk management. Internal Control - Guidance for Directors on the Combined Code (Turnbull guidance) was first issued in 1999 and applies to UK publicly listed companies. The Turnbull Review Group of the UK Financial Reporting Council (FRC) updated the guidance in 2004. The review stressed the importance of regular and systematic assessment of the risks facing companies to take into account emerging risks, expectations and potential control failures. The Turnbull Guidance requires companies and their executive officers to practice judgement in appraising how the company has implemented the regulatory compliance requirements relating to risk management, internal control and reporting.
Sarbanes Oxley Related: Compliance Management, Gramm Leach Bliley, HIPAA Compliance, Internal Control, Risk Management, SOX Compliance, Turnbull Compliance, Turnbull Corporate Governance, Turnbull Guidance, Turnbull Risk Management