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  • Blog
    July 12, 2019
    Experiment. Learn. Repeat. What a World Tour of Internal Audit Reveals About Next-Gen Transformation.
    A critical mass of factors has led internal audit functions to a watershed moment: They must disrupt or be disrupted. At Protiviti, we refer to the innovation and transformation internal audit functions must pursue as next-generation internal audit. These efforts — already underway in a growing number of companies — vary. But they share an agile, holistic approach centering on new directions for…
  • Blog
    July 15, 2019
    No Stone Unturned: Key Considerations for Finalizing CECL Model Implementation and Validation
    With a December 31st deadline looming for SEC reporting financial institutions under the Financial Accounting Standards Board's (FASB) new Accounting Standard Update (ASU) on Current Expected Credit Loss (CECL), institutions are in various stages of finalizing their models and model documentation, performing model validation and testing, performing parallel runs and updating processes and…
  • Blog
    July 16, 2019
    Energy and Utilities Companies Can Build an On-Ramp to the AI Fast Lane With Intelligent Automation
    Like many organizations today, energy and utilities companies are trying to understand advanced artificial intelligence (AI) and identify practical use cases for the technology that will benefit the business and its customers. And like their counterparts in other industries, many of these firms are running short on time - not only to get out of the starting gate with AI but to move their AI…
  • Blog
    July 17, 2019
    How Artificial Intelligence Can Add Value to the Supply Chain
    Artificial intelligence (AI) and machine learning (ML) are revolutionizing business in what is being called “the Cognitive Age.” Protiviti recently teamed with ESI ThoughtLab to survey more than 450 organizations around the globe about ways this technology is currently being applied, and how that is likely to change over the next two years. One of the key finding of the survey was that the…
  • Blog
    May 13, 2020
    Opportunities Abound in Pandemic Reemergence Planning
    As businesses face the uncertainties created by the COVID-19 pandemic, many are also shifting their forward-looking strategic objectives and priorities. Meanwhile, employees are in waiting mode, perhaps waiting for business to resume more or less as it was before the crisis. But the post-pandemic reality will likely be very different. Businesses may find, for example, that their trading…
  • Blog
    May 13, 2020
    Treasury Department Weighs In on Contentious BI Claims Dispute
    The insurance industry has received substantial help in its pushback against various legislative and legal efforts seeking to compel insurers to cover business interruption (BI) claims stemming from COVID-19, including in cases where policy language may exclude coverage for pandemics or lack of physical damage. In a letter to lawmakers, the U.S. Treasury indicated it opposes the seemingly…
  • Blog
    May 14, 2020
    Going Back to the Office: Determining Key Personnel Risk in a New Reality
    Team leads around the world know the feeling. The late-night text from a trusted colleague: “This is Mike. I don’t feel well, not sure I’ll be able to work the next few days.” Not a big deal, you think to yourself, a few days is doable. The team’s new high-profile project is in the planning phase and, so far, all systems and Mike’s daily responsibilities are running smoothly. A few days pass…
  • Blog
    May 18, 2020
    Paycheck Protection Program: A Forgiveness Application, But Still No Regulations
    Amidst media reports that significant changes to the Paycheck Protection Program (PPP) may be forthcoming to provide greater leeway for how loan proceeds are used and to extend the current eight-week period for spending the funds, the Small Business Administration (SBA) issued a Loan Forgiveness Application on May 15. The form, its accompanying worksheet and step-by-step instructions provide…
  • Blog
    May 18, 2020
    Risk Awareness and Analytic Insight: Driving Audit Into the Future
    As the world is rapidly changing before our eyes, organizations are becoming increasingly self-aware about vulnerabilities within their operations and infrastructure that, just a couple of months ago, may have seemed like a distant possibility. The current environment’s intense pressures are leading to new challenges and opportunities, which are perfect catalysts for innovation. Amid the…
  • Blog
    May 19, 2020
    Mortgage Servicers Must Act Now to Implement Latest COVID-19 Payment Deferral Program
    In response to the COVID-19 pandemic and mortgage servicers’ feedback, Fannie Mae and Freddie Mac introduced a COVID-19-specific payment deferral program for homeowners on May 14, 2020. This program is in addition to the payment deferral solution, announced on March 25, that was developed at the direction of the Federal Housing Finance Agency (FHFA) for borrowers who became delinquent due to a…
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