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  • Blog
    April 4, 2019
    Why Auditors Rarely Find Fraud
    Updated November 11, 2022 In today’s world, where corporate scandals often make front-page news, fraud prevention and detection are becoming a priority for management and decision-makers. An alarming fact reported by the Association of Certified Fraud Examiners (ACFE) stated that an average organisation loses an estimated 5% of its annual revenue to fraud. Hence, fraud is posed as one of the…
  • Blog
    April 9, 2019
    Applying Qualitative Factor Overlays on CECL Models: Key Considerations
    With the initial deadline for adherence to the Current Expected Credit Loss (CECL) accounting standard approaching, regulators and industry representatives gathered in New York recently for the CECL 2019 conference to discuss the top-of-mind considerations for CECL and understand what public, SEC-filing institutions should be doing to prepare to go live with the standard on January 1, 2020. One…
  • Blog
    April 15, 2019
    Companies Could Use More CFO Insight, And CFOs Could Use More AI
    “If it ain’t broke, don’t fix it.” This famous defense of the status quo was popularized in 1977 by Bert Lance, a Georgia banker and Director of the U.S. Office of Management and Budget under President Jimmy Carter. It is apt that such wisdom would come from a banker, especially one who served, albeit briefly, as America’s chief financial officer (CFO). Anyone who has ever wrestled with trying…
  • Blog
    April 19, 2019
    Top Risks: Winning the War for Talent
    It should be no surprise that finding and keeping workers with digital skills is a top concern for executives and directors. The more digital companies become, the fiercer the competition for workers with a digital mindset: an aptitude to flourish in this new environment. In the most recent Top Risks survey, conducted by Protiviti and North Carolina State University’s ERM Initiative in…
  • Blog
    June 8, 2020
    Lessons Learned from COVID-19: A Discussion for Board Members
    The COVID-19 crisis threw companies for a loop as an economic downturn that to many may have looked like a manageable possibility in the beginning, unfortunately became a full-blown economic crisis and human tragedy. For many boards, this meant working closely with management to revisit the strategy to address new risks on top of existing ones. In the chaos, the companies that were most…
  • Blog
    June 9, 2020
    Transparency, Empathy, Consistency, Frequency – Keys to Crisis Communications
    On June 2, 2020, Protiviti Advisory Board member Susan Molinari and Protiviti Executive Vice President Patrick Scott joined Protiviti Managing Director and moderator Frank Kurre for a webinar discussion entitled “How Should You Communicate with Customers During a Crisis?”The webinar explored a number of questions around best practices for communicating with clients during this time of COVID-19…
  • Blog
    June 10, 2020
    SOX Compliance Under COVID-19: The Show Must Go On (Part 1)
    Although the Securities and Exchange Commission (SEC) granted one 45-day extension for public companies subject to Sarbanes-Oxley (SOX) reporting requirements, the regulator still expects companies to appropriately protect investors and the public interest by maintaining the full rigor of internal control requirements. As a result, a number of challenges need to be addressed. I had the…
  • Blog
    June 11, 2020
    Assessing Risk in Dynamic Times: Challenge Brings Opportunity to Internal Audit
    COVID-19 has thrown a wrench into business operations around the world. Workplaces once teeming with workers sit empty as staffs have worked from home for the last several weeks. Considering the fact that major organizations have announced that remote working could become permanent for some of their employees, business won’t return to the “old normal” anytime soon, if ever. The disruption is…
  • Blog
    June 12, 2020
    For Financial Industry, Post-Pandemic Resilience Building Should Focus Equally on Operational Successes and Failures
    The COVID-19 pandemic’s impact on lives, livelihoods, economic stability and business continuity (for small enterprises particularly) continues to be overwhelming. But, in contrast to the financial crisis of 2008, the pandemic is not a financial industry-driven event. This time around, the industry has been a critical part of the solution rather than part of the problem. At the onset of the…
  • Blog
    June 15, 2020
    Taking Physical Inventory While Working Remotely – A Unique Challenge in Manufacturing
    Amid the crisis of the COVID-19 global pandemic, organizations are scrambling to convert activities traditionally performed in person to remote-friendly processes. Historically, taking physical inventory of an organization’s assets is primarily an in-person and manual process. Thus, the need to avoid physical contact during a pandemic is presenting unique challenges for manufacturing…
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