One of the best defence against business failure, as well as an important driver of business performance, is having an effective internal control system, which manages risk and enables the creation and preservation of value. Successful organizations know how to take advantage of opportunities and counter threats, in many instances through effective application of controls, and therefore improve their performance. In the lead article, Evaluating the Importance of Internal Control in Organisations, the writer emphasises the importance of internal control as an integral part of an organization's governance system and ability to manage risk, take advantage of the opportunities, and counter the threats to achieving the organization's objectives. In the next article, on integrated thinking, the writer stresses that integrated thinking and reporting provides a means and additional incentive for CFOs, and their finance teams, to focus on the information and decisions that matter to the organization and its potential success. The writer sets out a vision and framework for integrated thinking and explores what professional accountants working in the public and private sectors can do in practical terms to facilitate it in their organization, regardless of whether their organization is planning to publish an integrated report. The writer identifies five key elements, which, if implemented, can lead to more effective organizations and ultimately provide the basis for shifting from today's financially oriented reporting to integrated reporting.

Non-Compliance with Laws and Regulations This summary provides an overview of revisions to the IAASB's International Standards relating to noncompliance with laws and regulations (NOCLAR). Project Objective: The International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (the IESBA Code) has been revised to address the professional accountant's responsibility in relation to NOCLAR and becomes effective on July 15, 2017. The objective of the IAASB's project to address NOCLAR was to: Identify any actual or perceived inconsistencies of approach or scope between the NOCLAR provisions in the revised IESBA Code and the International Standards, in particular ISA 250, Consideration of Laws and Regulations in anAudit of Financial Statements. Develop amendments to the IAASB's International Standards to address such inconsistencies to the extent considered appropriate to enable the IAASB's International Standards to continue to be applied effectively together with the IESBA Code, or to clarify and emphasize key aspects of the revised IESBA Code in the IAASB's International Standards.