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  • Blog
    January 16, 2020
    Next-Gen Internal Audit: What Do We Mean When We Talk About Agile Audit?
    As businesses focus on digital transformation for speed and service, they tend to put more emphasis on individuals and interactions than processes and tools. In the process, rigid hierarchical business processes are being replaced with collaboration, iterative processes and constant communication across the enterprise. These new methodologies are borrowed from software development, where they…
  • Blog
    January 17, 2020
    Make ESG Part of the Public Company Readiness Checklist — Your Valuation Could Depend on It
    The public company readiness checklist for any business working toward an initial public offering (IPO) is long and complicated. And now, there are signs in the marketplace that for many companies aiming for an IPO, this checklist may need to include an analysis of environmental, social and governance (ESG) performance and reporting. Demonstrating meaningful effort and progress with ESG issues…
  • Blog
    January 27, 2020
    Agile Internal Audit: How to Audit at the Speed of Risk
    There's never been a better time to be an internal auditor. The internal audit profession is being asked to respond to an ever-increasing set of issues that reside in technology, compliance, culture, risk and other emerging hot topics. The ability for internal audit functions to remain relevant and address the needs of their clients is incumbent upon using new tools and techniques, including the…
  • Blog
    January 28, 2020
    CECL and the New AICPA Practice Aid (Part 2): Financial Statement Presentation and Enhanced Financial Statement Disclosures
    New accounting standards that fundamentally change the way financial services organizations calculate current expected credit losses (CECL) took effect for large institutions on January 1, 2020. The new standards are part of a broader effort to increase the accuracy of financial statements and provide more transparency for stakeholders. Smaller financial organizations and private institutions…
  • Blog
    January 29, 2020
    SEC Joins the PCAOB in Emphasizing the Importance of the Audit Committee’s Role
    On December 30, 2019 the Securities and Exchange Commission (SEC) issued a statement on the role of audit committees in financial reporting. This statement follows by a few weeks a similarly focused report from the Public Company Accounting Oversight Board (PCAOB). Together, the two releases underline the importance these regulators place on a well-informed, engaged, objective and effectively…
  • Blog
    January 30, 2020
    In Latest Operational Resilience Proposals for UK Institutions, Regulators Outline Expectations for Outsourcing Arrangements and Third-Party Risk Management
    Financial institutions should expect their outsourcing and third-party risk management practices to come under increased scrutiny as part of the growing regulatory focus on the operational resilience of the financial services sector. The series of coordinated consultation papers on operational resilience, published by the UK supervisory authorities in December 2019, provide the strongest…
  • Blog
    February 3, 2020
    The 2020 Audit Committee Agenda: Asking the Right Questions
    With accounting standards changing and regulatory scrutiny expanding beyond financial performance, 2020 offers an opportunity for audit committees to work on improving the broader risk and control environment, including non-financial — enterprise, process and technology — risk disclosures. As in years past, Protiviti has prepared a recommended agenda for audit committees to help focus their…
  • Blog
    February 6, 2020
    Insurers Targeted in UK Supervisory Authorities’ Latest Effort to Develop Formal Operational Resilience Regulations
    The resiliency of the insurance industry, especially its ability to protect policyholders from the impact of severe operational failures, is a major focus of the latest regulatory effort to strengthen the operational resilience of the UK’s financial services sector. When the Bank of England (BOE), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) signaled…
  • Blog
    February 11, 2020
    Gender Diversity Can Aid Cybersecurity: CISO Panel Suggests Keys to Greater Female Participation
    It’s no secret that the current skills shortage is especially acute in the area of cybersecurity. A 2018 study by the International Information System Security Certification Consortium, or (ISC)², reported a shortage of nearly 3 million cybersecurity professionals globally, including a gap of roughly 500,000 trained staff in North America alone. And CIO/CTO respondents to Protiviti’s latest Top…
  • Blog
    February 17, 2020
    Succession Planning in Finance: Sourcing the Next Generation of Leaders
    According to Protiviti’s most recent Top Risks survey, succession planning is among leaders’ top concerns. At the same time, another survey conducted by Robert Half among chief financial officers (CFOs) only shows a startling 48% of them had not identified their own successors. Of those, 64% cited their own intentions to stay in their current positions as their rationale for not prioritizing…
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