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  • Blog
    February 24, 2017
    Regulatory Activity Unabated Despite Uncertain Regulatory Outlook
    A month into the new U.S. administration, it’s clear that the political landscape is shifting. The administration has issued executive orders calling for a review of existing laws and regulations based on how they promote certain “core principles” related to the regulation of the U.S. financial system; a review of the Department of Labor’s Fiduciary Rule scheduled to take effect later in 2017;…
  • Blog
    February 24, 2017
    A New and Better AML Regime?
    On February 16, 2017, The Clearing House (a banking association and payments company that is owned by twenty-five of the largest commercial banks) released a report entitled A New Paradigm: Redesigning the U.S. AML/CFT Framework to Protect National Security and Aid Law Enforcement. The report analyzes the current effectiveness of the U.S. anti-money laundering/counter-terrorism financing (AML/CFT…
  • Blog
    November 11, 2016
    Digital Transformation, Data Governance, and Internal Audit
    Digital advances, such as big data analytics, mobility and smart connected devices are radically changing not just business processes, but entire operations. Companies across industries are racing to migrate analog approaches to customer interactions, products, services and operating models to an automated, always-on, real-time and information-rich marketplace. For internal audit, this means that…
  • Blog
    November 15, 2016
    Navigating Risk and Complexity by Integrating Contract and Supplier Management
    Most organizations spend between 30 and 70 percent of their revenues procuring third-party goods and services. This level of expenditure can present significant opportunities to drive operational performance, value and innovation if managed effectively – or it can pose a significant risk if left unmanaged. To realize the former, contracts that govern these transactions and the…
  • Blog
    November 17, 2016
    New Evaluation Tool Enables Boards to Assess and Improve Their Risk Oversight
    Prudent risk-taking is essential to the success of organizations seeking market opportunities and executing aggressive growth strategies. Boards of directors have a growing role in overseeing risk in the companies they govern. In fact, risk oversight is an integral part of a board’s responsibility to ensure the company’s risk profile is aligned with its strategy. Yet according to a NACD…
  • Blog
    November 18, 2016
    COSO Guide Seeks to Elevate and Evolve Fraud Risk Management Practices
    For many organizations, fraud risk management consists of checking boxes and thinking positive thoughts: “We hire good people.” “We have a code of conduct.” “We comply with Sarbanes-Oxley (SOX).” “Our hotline does not ring (for serious things).” “Fraud simply doesn’t happen here.” Of course, as forensic professionals, we know that this is not enough. So does the Committee of Sponsoring…
  • Blog
    November 21, 2016
    How Expensive Are Cybersecurity Attacks and Data Breaches?
    A Journal of Cybersecurity article earlier this year concluded that public concerns regarding the increasing rates of breaches and legal actions may be excessive compared to the relatively modest financial impact to firms that suffer these events. Based on a sample of more than 12,000 cyber events that include data breaches, security incidents, privacy violations and phishing crimes, the…
  • Blog
    November 30, 2016
    Compliance Insights Latest: The Future of Financial Regulation Still Unclear; Meanwhile, New Rules March On
    The recent election results weigh heavily on the minds of financial services professionals. All manner of questions have been raised regarding potential related regulatory impacts. Currently, there is ambiguity and speculation as to what changes are in store, when they will come, and the extent to which they will occur. What is certain is that change is inevitable, at least based upon what can be…
  • Blog
    December 14, 2016
    Your Personal Information Is Not Personal Anymore – So Who’s Guarding It?
    We live in an age of great convenience enabled by technology. Snap a photo of your check on your smartphone to make a deposit, simple. Rollover an IRA from your home office, easy. Change the password on your bank account from the airport, no problem. What is less apparent to consumers of these services is the risks they may be assuming by making use of these conveniences. And while few of us…
  • Blog
    December 16, 2016
    Brexit Raises Questions About Personal Data Protection
    Not all border crossings are visible. The decision by the United Kingdom earlier this year to leave the European Union (EU) brings a basket of challenges and opportunities for the management and protection of personal data through cyber checkpoints, once the UK goes its own way. Personal data is a crown jewel of commerce, and the secure transfer and storage of data across national and regional…
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