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  • Blog
    October 31, 2018
    Building Bot Boundaries: RPA Controls in SOX Systems
    There is often a tendency in RPA implementations to automate as much as possible, focusing more on the value the technology can deliver and less on what are the right things to automate or what risks may be introduced or increased in the process. This is the natural tension that exists between the pursuit of innovation and the need for controls.  As seasoned business leaders know, innovation…
  • Blog
    March 16, 2018
    It Is Time to Bring Order to the M&D Lease Universe
    Public company accounting departments closing the books on 2017 may find it difficult to take a breath. Fresh from filing their 10-K and finalizing their preparation for the FASB’s new revenue recognition standard (ASC 606) effective in 2018, it is time to prepare for a new lease accounting standard (ASC 842). The new standard goes into effect for fiscal years beginning after December 15, 2018…
  • Blog
    March 21, 2018
    2018 Audit Committee Agenda Continued: Corporate Culture
    Internal auditors often talk about the “tone at the top” — the idea that corporate culture begins with the example set by senior management. But while conduct at the top is where it all starts, it does not end there. An increasing number of companies are beginning to realize that if the tone in the middle is not aligned with the tone at the top, there could be serious risks lurking within the…
  • Blog
    March 22, 2018
    Simplifying the Modeling Challenges in PPNR
    As a crucial part of capital planning, Pre-Provision Net Revenue (PPNR) modeling has been under the spotlight for careful review and scrutiny from the Federal Reserve Board (FRB) since 2012 for the annual Comprehensive Capital Assessment and Review (CCAR) submission. Although bank holding companies (BHCs) have become better equipped at utilizing PPNR models for capital planning purposes in recent…
  • Blog
    March 26, 2018
    Focus on Culture: How Culture Assessments Can Support the Audit Committee’s Agenda
    In an earlier post, I discussed corporate culture as one of the items Protiviti recommends audit committees focus on as they shape their agendas for 2018. I want to follow up with some suggestions on how organizations might include a culture assessment in their plans for the year. There are several different ways to approach a culture assessment. The internal audit functions of some…
  • Blog
    March 29, 2018
    Internal Audit Capabilities and Needs Survey: The Analytics Imperative
    As internal audit practitioners seek to evolve and transform their functions, to keep pace with the transformation occurring within their organizations, internal auditors are increasingly assessing and consulting on a wide variety of risks, including digitalization, cybersecurity, enterprise risk management, fraud risk, vendor risk and corporate culture. These new areas now dominate the global…
  • Blog
    April 2, 2018
    Cryptocurrency, AML, CFPB Direction. Listen to Our Monthly Podcast on the Latest Compliance News
    In our latest podcast of Compliance Insights, risk and compliance experts Steven Stachowicz and Christine Bucy discuss NYDFS's action on cryptocurrencies, proposed legislation related to anti-money laundering and its potentially seismic implications for financial institutions, and the marked change in strategy for the Consumer Financial Protection Bureau encased in its 5-year strategic plan.…
  • Blog
    April 3, 2018
    Internal Audit to Play a Leading Role in Tax Evasion Prevention
    UK authorities now have the power to prosecute any individual or company that fails to prevent the facilitation of tax evasion either in the UK or abroad. The new offence was introduced by the Criminal Finance Act – passed into UK law on 22 April 2017 – which strengthened the existing powers of law enforcement with the introduction of unexplained wealth orders and interim freezing orders. The Act…
  • Blog
    April 4, 2018
    With GDPR Deadline Looming, the First Step Is Discovery
    With the new EU General Data Protection Regulation (GDPR) scheduled to take effect on May 25, 2018, organizations with EU employees or customers need to be able to demonstrate compliance. GDPR expands the scope of previous EU regulations to include any data processor or data controller that collects, stores, or processes the personal data of EU residents. It mandates data portability, imposes…
  • Blog
    April 5, 2018
    Business and Digital Transformation’s Effects on IT Audit Groups -- New Research from ISACA and Protiviti
    The results of the latest global IT Audit Benchmarking Study from ISACA and Protiviti, based on responses from more than 1,300 audit executives and professionals worldwide, paint a vivid picture of the ways IT audit leaders and professionals are succeeding, as well as where they need to “step up their games,” especially given the omnipresent nature of digital transformation efforts, cyber…
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