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 July 28, 2020 Management’s Reporting on the Control Environment During COVID-19: Extra Attention Is Required Organizations across all jurisdictions and industries have been faced with the difficult task of drafting and submitting their financial statements to regulators and banks during the COVID-19 pandemic. This has led to unique challenges and logistics to ensure appropriate personnel are connected and able to perform their duties and, ultimately, report to regulatory bodies with accuracy. Many… Blog July 30, 2020 Persevering and Prospering in the Time of COVID-19: Accounts Payable The accounts payable (AP) function has a significant effect on the bottom line, third only to sales and receivables. Now, many accounts payable teams have been caught short by the Coronavirus 2019 (COVID-19) pandemic, finding themselves unable to shift rapidly and securely to a remote payables workforce. Some businesses – whose workforce capabilities and processes are extensively paper-based –… Blog August 7, 2020 Tech Can Help Oil and Gas Firms Survive Market Turmoil For organizations in the oil and gas (O&G) industry, the combined impact of COVID-19 and erratic oil prices have made for an unprecedented roller coaster ride. Many oil and gas companies are finding it difficult to cope, and others are likely to be severely impaired for the foreseeable future. However, even in the worst of times, there are tools and strategies that can help an organization… Blog August 10, 2020 Postpandemic Real Estate Strategies: It Pays to Be Nimble Of the many things to consider during the pandemic, one of the more challenging areas is real estate. To a large extent, companies have done an admirable job of relocating large portions of their workforce to work-from-home (WFH) status — and on very short notice. But the current crisis will ultimately pass, and now is the time for organizations to consider how the changes they are making now… Blog August 11, 2020 Know Your Customer: It’s All About Risk In early 2017, Protiviti published a white paper titled Remediate Risk, Not Files: Breaking the KYC Remediation Cycle. Primarily authored by my colleague Matt Taylor, the paper proffered that one of the main reasons financial institutions have found themselves caught in an endless cycle of Know Your Customer (KYC) remediation is that their remediation efforts are focused on papering the file and… Blog August 13, 2020 Internal Audit Leaders Need to Step Up Next-Gen Innovation and Transformation Initiatives, Protiviti Survey Finds According to the findings from Protiviti’s 2020 Next Generation Internal Audit Survey, chief audit executives (CAEs) and internal audit leaders report their next-generation competency levels in three vital areas – governance, methodology and enabling technology – to be remarkably low. There is a danger that, if increasing these competencies and transforming the audit process is not viewed as a… Blog August 14, 2020 A Tale of Two Crises — Hurricane Preparedness in the Midst of COVID-19 Oil and gas (O&G) organizations have been drastically affected by COVID-19 amid the impacts to the economy, including constrained demand for all O&G products and the necessity of changing business structures and having employees work remotely. However, these lessons learned, if applied mindfully, may help organizations effectively respond to future business interruptions. Case in point… Blog August 18, 2020 Understanding Spend Is Key to Building Business Resilience in the New Normal Spend analysis is frequently identified as a critical procurement capability. Yet surprisingly, few organizations actually conduct this activity on a thorough or regular basis. Many organizations think of spend analysis as necessary only when they are about to embark upon strategic sourcing events, or when they need spend data totals to use in preparing RFPs in the marketplace. Even then… Blog August 20, 2020 Ongoing Risks of Government Lending Programs I had the opportunity last week to participate in a webinar hosted by the Los Angeles Chapter of The Risk Management Association (RMA), titled “Ongoing Risk Implications of Government Lending Programs.” Joined by my Protiviti colleagues Ariste Reno and Rhonda Gallion, we discussed the current bank regulatory environment, credit risk issues, and fraud and compliance issues related to government… Blog August 25, 2020 To Meet Today’s Challenges, CAEs Must Stay Focused on Next-Gen Internal Audit Practices Progress often moves in fits and starts, and that, apparently, is the case with next-generation internal auditing (IA), according to Protiviti’s 2020 Internal Audit Capabilities and Needs Survey, published earlier this month. The survey was conducted in the last quarter of 2019, before the COVID-19 pandemic disrupted businesses and their well-laid audit plans. There is no doubt that the… Load More