Following a well-received presentation during the 2013 Institute of Management Accountants (IMA)’s Annual Conference, IFAC Senior Technical Manager Vincent Tophoff and Campbell Soup Company Finance Director and Comptroller J. Stephen McNally gave a follow-up presentation during the 2014 conference to discuss additional risk management and internal control (RM/IC) issues and considerations.
This presentation addresses the maturity of RM/IC arrangements in an organization and details a case study looking at how Campbell Soup assessed the RM/IC arrangements of its North American co-manufacturing operations. The presentation concludes with a call to action for professional accountants to:
- Build subject-matter-expertise in RM/IC frameworks, standards, and other guidance;
- Educate audit committee, senior executives, operating units, and functional management on RM/IC;
- Support line management by providing high-quality information;
- Establish good RM/IC for the finance function; and
- Champion the importance of continuous RM/IC improvement.
This presentation follows the June 2013 presentation, Leveraging Effective Risk Management and Internal Control for your Organization.