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  • Blog
    October 2, 2019
    Is Your Company Managing Data in the Cloud? Consider These Risks.
    Cloud technology is becoming the infrastructure of the next generation of commerce. Enterprise spending on cloud-based infrastructure is expected to surpass in-house technology investments by 2022, by some estimates. For many organizations, a cloud strategy is a well-considered move that brings the promise of improved operational efficiency and lower costs — but it also poses new risks not…
  • Blog
    October 3, 2019
    Cyber Risk Quantification – Takeaways From the FAIR Conference
    Protiviti was once again a sponsor of the 2019 FAIR Conference, hosted by the FAIR Institute, which took place on September 24-25 in National Harbor, MD. Protiviti cyber risk quantification experts Andrew Retrum and Vince Dasta were at the conference to meet with other FAIR experts and answer questions from attendees. For those who missed them, we present below a brief interview with Vince Dasta…
  • Blog
    October 7, 2019
    Emerging Technology Companies: Don’t Forget to Manage Security in the Cloud
    Data breaches only happen to other companies — that’s true right up until the minute your company, believing itself secure, gets hacked and finds that the personal data of millions of its customers has been exposed. A company’s reputation and competitive advantage — which may have taken decades to build — can be destroyed overnight. For an emerging technology company, a security breach could…
  • Blog
    October 8, 2019
    SOX Control Awareness and Communication Is One Way Organizations Can Help Reduce Costs and Hours
    Protiviti’s 2019 SOX survey shows that companies, with the help of technology, are finally beginning to make headway in the 15-year battle to rein in SOX compliance costs and rising control counts. A few weeks ago, we discussed some of the factors that contribute to the reduction in hours and costs, and we pointed to reducing and standardizing control counts as one of these factors. But a reduced…
  • Blog
    October 9, 2019
    The OCC’s 2020 Supervision Plan Targets Emerging Risks Facing Financial Institutions
    In its 2020 fiscal year bank supervision operating plan, the Office of the Comptroller of the Currency (OCC) identifies cybersecurity and operational resiliency, Bank Secrecy Act/anti-money laundering compliance management, commercial and retail credit underwriting practices, and commercial and retail credit oversight and control functions  among its top supervisory priorities. In…
  • Blog
    October 10, 2019
    With a Change in the Credit Cycle, a Rise in Special Assets Is Likely – Is Your Institution Prepared?
    In early 2016, the then-Comptroller of the Currency, Thomas Curry, issued a strongly worded report. “In the area of credit risk, the warning lights are flashing yellow,” he wrote in the OCC’s Semi-Annual Risk Perspective. “We can’t wait until the warning lights turn red.” According to the OCC, 2016 marked the fourth straight year that underwriting practices had loosened. Curry noted that banks…
  • Blog
    October 14, 2019
    Internal Audit Leaders Adopt Agile Methods to Meet Next-Gen Audit Expectations
    The Protiviti View has been examining some of the ways internal audit departments around the world are reinventing themselves, drawing on the experience of 16 innovators profiled in Internal Auditing Around the World, Volume 15. This post looks at ways internal audit teams are adopting fast and flexible “agile” development methodologies to better align audit activities with business processes…
  • Blog
    March 2, 2020
    Yes, That Information Is at Risk: Pressure Rising for Oil and Gas Companies to Protect Data
    Oil and gas companies collect, work with and store a wide range of sensitive business data in the course of everyday business. However, they don’t always consider just how much malicious hackers, company insiders, nation-states and other bad actors value that data. As a result, they don’t prioritize developing a data protection program or create one that is comprehensive enough. Depending on…
  • Blog
    March 3, 2020
    Moving Finance to the Cloud: What Finance Leaders Need to Know
    As cloud technology matures, an increasing number of companies are migrating financial functions away from on-premise systems. In our most recent Finance Trends survey, more than half (58%) of the respondents said that they plan to increase their spending on cloud applications in 2020 — indicating that they either have already migrated and or are planning to do so this year. The movement of…
  • Blog
    March 4, 2020
    Major Security Vulnerabilities Could Expose Thousands of IoT Devices to Cyberattacks (Flash Report)
    IoT Vulnerabilities on the Rise A recently discovered set of Bluetooth-related vulnerabilities could mean thousands of IoT devices are vulnerable to attack and could experience deadlocks, crashes, buffer overflows and bypass of certain security settings. Researchers at the Singapore University of Technology and Design uncovered a set of 12 vulnerabilities affecting seven major system-on-a-chip…
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