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 January 28, 2020 CECL and the New AICPA Practice Aid (Part 2): Financial Statement Presentation and Enhanced Financial Statement Disclosures New accounting standards that fundamentally change the way financial services organizations calculate current expected credit losses (CECL) took effect for large institutions on January 1, 2020. The new standards are part of a broader effort to increase the accuracy of financial statements and provide more transparency for stakeholders. Smaller financial organizations and private institutions… Blog January 29, 2020 SEC Joins the PCAOB in Emphasizing the Importance of the Audit Committee’s Role On December 30, 2019 the Securities and Exchange Commission (SEC) issued a statement on the role of audit committees in financial reporting. This statement follows by a few weeks a similarly focused report from the Public Company Accounting Oversight Board (PCAOB). Together, the two releases underline the importance these regulators place on a well-informed, engaged, objective and effectively… Blog January 30, 2020 In Latest Operational Resilience Proposals for UK Institutions, Regulators Outline Expectations for Outsourcing Arrangements and Third-Party Risk Management Financial institutions should expect their outsourcing and third-party risk management practices to come under increased scrutiny as part of the growing regulatory focus on the operational resilience of the financial services sector. The series of coordinated consultation papers on operational resilience, published by the UK supervisory authorities in December 2019, provide the strongest… Blog February 3, 2020 The 2020 Audit Committee Agenda: Asking the Right Questions With accounting standards changing and regulatory scrutiny expanding beyond financial performance, 2020 offers an opportunity for audit committees to work on improving the broader risk and control environment, including non-financial — enterprise, process and technology — risk disclosures. As in years past, Protiviti has prepared a recommended agenda for audit committees to help focus their… Blog February 6, 2020 Insurers Targeted in UK Supervisory Authorities’ Latest Effort to Develop Formal Operational Resilience Regulations The resiliency of the insurance industry, especially its ability to protect policyholders from the impact of severe operational failures, is a major focus of the latest regulatory effort to strengthen the operational resilience of the UK’s financial services sector. When the Bank of England (BOE), the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) signaled… Blog February 11, 2020 Gender Diversity Can Aid Cybersecurity: CISO Panel Suggests Keys to Greater Female Participation It’s no secret that the current skills shortage is especially acute in the area of cybersecurity. A 2018 study by the International Information System Security Certification Consortium, or (ISC)², reported a shortage of nearly 3 million cybersecurity professionals globally, including a gap of roughly 500,000 trained staff in North America alone. And CIO/CTO respondents to Protiviti’s latest Top… Blog February 17, 2020 Succession Planning in Finance: Sourcing the Next Generation of Leaders According to Protiviti’s most recent Top Risks survey, succession planning is among leaders’ top concerns. At the same time, another survey conducted by Robert Half among chief financial officers (CFOs) only shows a startling 48% of them had not identified their own successors. Of those, 64% cited their own intentions to stay in their current positions as their rationale for not prioritizing… Blog February 18, 2020 Cybersecurity Trends in 2020: What to Expect and How to Prepare Cyber attacks continue to rank among the leading business concerns in 2020, according to the eighth annual Executive Perspectives on Top Risks, a joint survey by Protiviti and NC State University’s ERM Initiative. Drawing on responses from 1,063 board members and executives from around the world, the survey found that cyber threats represented a “significant impact risk” to senior managers, one… Blog February 19, 2020 Risks at the Intersection of Talent, Culture, Innovation and Technology Certain kinds of risks, if left unaddressed, inhibit organizations’ capacities to deliver on strategic targets. Particularly noteworthy are the crucial relationships between such risk areas as talent, culture, innovation and technology, which prompt further inquiry into how these areas intersect: What culture attracts top talent? What talent is needed to be agile, competitive, nimble and… Blog February 24, 2020 Innovating AML Compliance: The Next Regulatory Imperative? Incorporating innovative approaches into anti-money laundering (AML) and financial crime prevention remains a key agenda item for the financial services industry, trade associations, advocacy groups and, increasingly, the regulators. At the recent SIFMA AML conference, we joined industry panelists on stage to discuss not only the obvious benefits of integrating leading technologies into AML… Load More