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  • Blog
    August 8, 2017
    Internal Audit’s Role Will Be Key in the GDPR Journey
    Over the next nine months, organizations will spend billions of dollars to comply with the General Data Protection Regulation, or GDPR — a European data protection and privacy regulation with the potential to be as disruptive to companies that conduct any kind of personal data exchange with the EU as the financial reforms created by the Sarbanes-Oxley Act were back in 2002. For starters, it is…
  • Blog
    August 10, 2017
    Transitioning to the New Revenue Recognition Standard Will Likely Be Harder Before It Gets Easier
    The new revenue recognition accounting standard from the Financial Accounting Standards Board (FASB) is going into effect for most public companies in their next fiscal year, and a year later for everyone else. This fast-approaching deadline explains the increased interest and focus on the standard in Sarbanes-Oxley initiatives. The focus also showed up more demonstrably in our 2017 SOX survey…
  • Blog
    August 14, 2017
    Trade, Populism and the Price of Progress: How Is Your Industry Adjusting?
    Even as technology makes the world smaller and more interconnected, the current rise of nationalism in Western countries reminds us that progress is rarely linear and disruption rarely without consequence. With the growing trend toward digitalization of supply chains and warehouses, the potential for cost-effective, efficient global trade has never been greater. At the same time, political…
  • Blog
    August 16, 2017
    Higher Costs, More Satisfaction, Unabated Interest – SOX Compliance Has It All
    Early this summer I participated in a webinar to discuss the results of Protiviti’s 2017 Sarbanes-Oxley (SOX) Compliance Survey, an annual look at how publicly traded companies are complying with the 2002 law. Protiviti began assessing SOX impact on company resources eight years ago, in addition to delineating how the law impacts organizations based on size, maturity and industry. Protiviti’s…
  • Blog
    August 18, 2017
    An Involved and Agile IT Audit Function Is Key to Cybersecurity
    Reports of corporate cybersecurity breaches in the news are becoming as routine as the weather report, and the global risk stemming from these threats has never been higher. In fact, there are growing and credible concerns that malicious hacking groups have begun a cyber war against companies. In the midst of this hostile cybercrime climate, the IT audit function has become critical to ensuring…
  • Blog
    August 23, 2017
    SOX Compliance: PCAOB Inspections Drive Change in External Audits
    What a difference a year makes. Since the Public Company Accounting Oversight Board (PCAOB) began publishing inspection reports on external auditors, Protiviti has been measuring the effect of those reports on Sarbanes-Oxley (SOX) compliance activities in our annual SOX Compliance Survey. In our most recent survey, we asked companies that experienced significant changes to SOX compliance…
  • Blog
    August 28, 2017
    CFPB Final Rule on Arbitration, OCC Top Priorities, Virtual Currency Fines and Amended TRID Rule Featured in This Month's Compliance Insights
    Protiviti published the August issue of Compliance Insights last week. In the podcast below, Managing Director Steven Stachowicz discusses two of the topics in this month's newsletter: the much anticipated — and now final — arbitration rule by CFPB, and compliance risk management as highlighted in the OCC's Semiannual Risk Perspective. Download the free newsletter for the full set of compliance…
  • Blog
    May 11, 2016
    Financial Institutions Alert: New Credit Impairment Models Coming Soon
    The global financial crisis highlighted a number of weaknesses in the banking systems in the United States and Europe – among them, the way financial firms report their credit losses for loans and other financial instruments. Under existing models, based on Generally Accepted Accounting Principles (GAAP) in the U. S. and the International Financial Reporting Standards (IFRS) in other…
  • Blog
    May 16, 2016
    Relationships and Risks: A Closer Look at the CBOK Survey
    May is International Internal Audit Awareness Month. We are celebrating with a series of blog posts focused on internal audit topics and the daily challenges and future of the internal audit profession.     I recently had the honor of hosting a webinar with The Institute of Internal Auditors on the 2016 CBOK Stakeholders Study and the evolving role of internal auditors beyond…
  • Blog
    May 19, 2016
    Going Beyond Assurance
    May is International Internal Audit Awareness Month. We are celebrating with a series of blog posts focused on internal audit topics and the daily challenges and future of the internal audit profession.     In my last post, I gave a high-level summary of the North American results of the The IIA’s 2016 CBOK Stakeholder Study, as presented in an April 6th webinar I hosted. This…
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