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  • Blog
    November 14, 2017
    New IT Security Awareness Learning Library Is Designed to Help Workers Become Frontline Cyber Defenders for Their Employers
    Taking advantage of a user’s poor security practices is often a critical first step for malicious hackers or other cybercriminals seeking to compromise an organization’s systems and data. More than 80 percent of hacking-related breaches leveraged stolen or weak passwords, according to research for the 2017 Data Breach Investigations Report from Verizon. The report also says that about one in 14…
  • Blog
    November 16, 2017
    New Vendor Risk Management Survey Highlights a De-Risking Trend, Among Other Findings
    Protiviti and the Shared Assessments Program have released the 4th annual Vendor Risk Management Benchmark Study. While vendor risk management maturity is improving overall, concerns remain around the level of board involvement with third-party cyber risk and the ability of organizations to assess and manage forth-party risk (vendors of vendors). Subsequently, more than half of the organizations…
  • Blog
    November 28, 2017
    PCAOB Issues Preview of Observations From 2016 Inspections of Auditors of Issuers
    On November 10, the PCAOB published a Staff Inspection Brief that highlights frequent audit deficiencies identified by their Division of Registration and Inspections during the 2016 inspection cycle. The release is designed to help registered public accounting firms comply with PCAOB Auditing Standards. However, we believe it also provides preparers and issuers an opportunity to plan and prepare…
  • Blog
    December 1, 2017
    Wealth 2022: Wealth and Asset Management Firms Need to Get the Trust Equation Right When Going Digital
    Fintech companies have had great success in the lending sector of the financial services industry because customers are more comfortable with being in control when borrowing money than when they are handing over their own money. This fact leads to a point I emphasized recently at a media breakfast in London to talk about the impact of digitalization on the wealth and asset management sector as…
  • Blog
    December 4, 2017
    New Insurance Data Security Model Law Requires Prompt Action
    In October, the National Association of Insurance Commissioners (NAIC) approved the Insurance Data Security Model Law (Cyber Model Law), which establishes standards for data security, as well as investigation and notification requirements for cybersecurity events in the insurance industry. The Cyber Model Law requires licensees – insurers, agents, or other entities regulated by state insurance…
  • Blog
    December 5, 2017
    Digitalization Expands Audit Scope Into New Territory
    Organizations across industries are racing to migrate analog approaches to customers, products, services and operating models to an always-on, real-time and information-rich digital business model. Using technology and digital advances, such as analytics, social media and smart embedded devices, these organizations are radically improving the performance and reach of their enterprises. This has…
  • Blog
    December 7, 2017
    Drastic Measures in the Oil Patch Helped Survival – But Can They Translate into a Sustainable Cost Management Program?
    The oil bust, which began shortly after prices peaked at nearly $108 per barrel in June 2014, has pummeled U.S. producers. According to the U.S. Energy Information Administration, oil and gas production jobs declined 26 percent and rig count plunged 78 percent from October 2014 through May 2016. Meanwhile, global oil and gas capital spending dropped 40 percent over 2014 and 2016. Leading…
  • Blog
    December 7, 2017
    Disruptive Innovation Tops Boards' and Execs' List of 2018 Risks in New Survey by Protiviti and NC State ERM Initiative
    Although board members and C-suite executives perceive a slightly less risky environment overall in 2018 compared to 2017, concerns remain. Top among them - disruptive innovation impacting existing business models and whether organizations are able to overcome organizational resistance to change to respond to this disruption in time. Leaders are less concerned about macroeconomic issues this year…
  • Blog
    December 11, 2017
    Avoiding “IoT Inertia” in the Oil and Gas Sector Requires an IoT Strategy
    To understand how the practical application of Internet of Things (IoT) technologies can potentially transform traditional operations and create value for businesses, just look to the oil and gas sector. Digitalization of oil fields began in the industry years ago. And now that sensors are more affordable, even small and midsize companies have the ability to track, in real time, data generated…
  • Blog
    December 13, 2017
    2017 VRM Study: De-Risking Amid Cybersecurity Concerns
    Four years into a regulatory push to improve vendor risk management, organizations across industries are getting smarter about who they work with and how they are working with them. The rate of improvement, however, may not be fast enough to keep up with the accelerating challenges of the external risk and regulatory environment, according to the 2017 Vendor Risk Management Benchmark Study from…
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