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  • Blog
    May 22, 2017
    States Champion Regulatory Streamlining; CFPB Remains Focused on Consumer Loan Servicing and Fair Lending
    While regulatory relief remains a topic within the Beltway, the Conference of State Bank Supervisors (CSBS), the nationwide organization of financial regulators from all 50 states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands, has already taken action to streamline the multistate regulatory oversight framework for one group of its regulated entities – money services…
  • Blog
    May 24, 2017
    Digital Transformation Success Requires Looking Inward First and Never Wearing Blinders
    To stay relevant in the digital economy, technology, media and communications companies must evolve on two fronts: externally and internally. The trick is that they must do both in tandem — and many find this difficult. External evolution relates to the role the company is playing to help propel the digital wave forward. Namely, what new and game-changing digital products, services and business…
  • Blog
    May 25, 2017
    Pro-Growth Signs in Washington Present Opportunity for Power and Gas Capital Investments
    Power utilities trying to gauge what the future regulatory landscape will look like are likely getting frustrated with the political cacophony in Washington. Yet judging by legislative activities in Congress and some of President Trump’s executive orders to date, pro-growth and job-creation policies are clearly top-of-mind among the nation’s lawmakers. For organizations that have been…
  • Blog
    May 26, 2017
    The Importance of Data Lineage for AML Systems
    Financial organizations have long embraced the advantages that information technology offers, and many are looking forward to larger digitalization initiatives to gain market advantage. Customers appreciate the convenience of digital offerings, while firms enjoy the reduction in operating costs that information technology enables. Of course, in the multifaceted, highly regulated environment in…
  • Blog
    May 30, 2017
    A Sea Change Is Coming – Transitioning to FASB’s New Lease Accounting Standard
    On the heels of the Financial Accounting Standards Board’s (FASB) new revenue recognition standard, which becomes effective for calendar-year public companies beginning January 1, 2018, the accounting and internal audit world is gearing up for another significant accounting and financial reporting change beginning one year later (on the first day of the first quarter), January 1, 2019 – the new…
  • Blog
    June 1, 2017
    Financial Firm Auditors: Are You Ready to Audit Under CECL?
    Amid widespread concern that Generally Accepted Accounting Principles (GAAP) are inadequate when it comes to advising investors on deteriorating credit quality, the Financial Accounting Standards Board (FASB) has issued a new methodology. The new standard, known as Current Expected Credit Loss, or CECL, uses data analytics to forecast expected losses based on internal and external trends, as well…
  • Blog
    June 2, 2017
    Manufacturers Are Upbeat About 2017 Business Climate Under New Administration
    Four straight months of manufacturing job growth through March this year and a decidedly more pro-business climate emerging in Washington have given many manufacturers good reason to consider 2017 off to a good start. According to the National Association of Manufacturers' (NAM) first economic outlook survey of manufacturers since Trump took office, more than 93 percent were feeling positive.…
  • Blog
    June 12, 2017
    Can Your SOX Compliance Process Benefit From Some Fine-Tuning? Find Out With Our Latest Benchmarking Survey
    The results of Protiviti’s latest SOX compliance survey are in, and one takeaway in particular – cost of SOX compliance – may be music to the ears of some companies. For many organizations, those costs were reported to be lower this year than last, even as the number of controls, as well as hours dedicated to compliance, increased. We don’t know the specific reasons why the costs at some…
  • Blog
    June 19, 2017
    Cyber Attacks Can Be Costly – Is Cyber Insurance the Answer?
    The WannaCry malware attack in mid-May focused the attention of corporations around the world on escalating cyber threats. Our Flash Report released immediately after the attack noted that it marked a new and unsettling aggressiveness on the part of cyber criminals: No previous assault matched the breadth of impact of WannaCry, which affected hospitals, corporations and government offices in more…
  • Blog
    June 21, 2017
    PCAOB Revises Auditor’s Report
    With the Public Company Accounting Oversight Board’s (PCAOB) new auditor reporting standard finally pending before the U.S. Securities and Exchange Commission (SEC) after nearly a decade in the making, Protiviti has published a Flash Report summarizing the changes and examining possible consequences. The Auditor’s Report on Audit of Financial Statements When the Auditor Expresses an Unqualified…
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