Results for Search Submit Filter by: Advanced Filter All results Solutions Industry Typelist People Client Story Insights/Blogs Filter Search Sort by RelevanceDate Order AscDesc 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 December 20, 2017 Is Servitization Manufacturing's Future? For Many, the Answer Is Yes. Many manufacturers see “servitization” — the process of moving from a product-centric business model to a bundled product-and-service one — as an inevitable future shift for their organization. What they often have difficulty visualizing, though, is when and how to make that move, and how long they may need to wait before they see a return on their investment from this new strategy. The latter… Blog December 22, 2017 Top Risks for 2018: Disruptive Innovation, Resistance to Change Having had a year to digest the aftermath of the U.S. election-driven economic, global trade, regulatory and other jitters that may have skewed the global risk outlook for 2017, executive perspectives on the top risks for 2018 have refocused on technology-driven change, and how well organizations are prepared to manage that transformation. Earlier this month, Protiviti and North Carolina State… Blog January 8, 2018 Perception vs Reality: What Is Procurement's True Value When It Comes to Savings? In Protiviti's Procurement Survey, conducted in the first quarter of last year, two findings stood out: Half of finance function respondents reported that only 20 percent of the savings procurement claims to achieve fall to the bottom line, and Only one-third of respondents, from both finance and procurement, agreed that there was a collaborative relationship between the two functions.… Blog January 9, 2018 Security Advisory: Meltdown and Spectre – Processor Flaws Expose Networks to New Class of Vulnerabilities Security researchers have identified a flaw, present in most computer processors, that allows unauthorized disclosure of information. The flaw, which affects most major processor manufacturers, is the first known instance of a security vulnerability at the processor level, and could be exploited in servers, workstations (including laptops), network infrastructure, mobile devices, IoT devices and… Blog January 12, 2018 The Current State of Internal Audit Data Analytics The explosion in the use of digital channels and the data they produce have caused a corresponding rise in the use of data analytics by the risk management and internal audit functions within financial services firms seeking to streamline their processes to gain efficiency and adopt a more agile approach to risk management. The internal audit function has been using data analytics for some time… Blog January 19, 2018 ERM: A Tool for Risk-Informed Strategic Planning and Decision Making At the end of last year, Protiviti conducted a webinar, Deriving Value from the Updated COSO ERM Framework. I had the pleasure of hosting the webinar, along with my colleagues: Dolores Atallo, a Managing Director in the Risk and Compliance practice, Jim DeLoach, Managing Director and member of the COSO Advisory Council (and host of this blog), and Bob Hirth, Senior Managing Director and COSO… Load More
