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  • Blog
    May 14, 2020
    Going Back to the Office: Determining Key Personnel Risk in a New Reality
    Team leads around the world know the feeling. The late-night text from a trusted colleague: “This is Mike. I don’t feel well, not sure I’ll be able to work the next few days.” Not a big deal, you think to yourself, a few days is doable. The team’s new high-profile project is in the planning phase and, so far, all systems and Mike’s daily responsibilities are running smoothly. A few days pass…
  • Blog
    May 18, 2020
    Paycheck Protection Program: A Forgiveness Application, But Still No Regulations
    Amidst media reports that significant changes to the Paycheck Protection Program (PPP) may be forthcoming to provide greater leeway for how loan proceeds are used and to extend the current eight-week period for spending the funds, the Small Business Administration (SBA) issued a Loan Forgiveness Application on May 15. The form, its accompanying worksheet and step-by-step instructions provide…
  • Blog
    May 18, 2020
    Risk Awareness and Analytic Insight: Driving Audit Into the Future
    As the world is rapidly changing before our eyes, organizations are becoming increasingly self-aware about vulnerabilities within their operations and infrastructure that, just a couple of months ago, may have seemed like a distant possibility. The current environment’s intense pressures are leading to new challenges and opportunities, which are perfect catalysts for innovation. Amid the…
  • Blog
    May 19, 2020
    Mortgage Servicers Must Act Now to Implement Latest COVID-19 Payment Deferral Program
    In response to the COVID-19 pandemic and mortgage servicers’ feedback, Fannie Mae and Freddie Mac introduced a COVID-19-specific payment deferral program for homeowners on May 14, 2020. This program is in addition to the payment deferral solution, announced on March 25, that was developed at the direction of the Federal Housing Finance Agency (FHFA) for borrowers who became delinquent due to a…
  • Blog
    May 20, 2020
    COVID-19 Crisis Highlights the Value of Agile Auditing
    Like nearly every other profession in the business world, internal auditing (IA) has been forced to cope with the extraordinary environment brought about by COVID-19. Skills and tools that IA has been adopting gradually over the past several years suddenly become critical for successful performance. And perhaps none is more critical than Agile auditing. As part of our ongoing Enterprise…
  • Blog
    May 26, 2020
    PPP Loan Forgiveness, Part 2
    One week after issuing a Loan Forgiveness Application and step-by-step borrower instructions (discussed in an earlier blog), the Small Business Administration (SBA) released two interim final rules (IFRs) on the Paycheck Protection Program (PPP) loan forgiveness requirements and roles and responsibilities of borrowers and lenders. The IFRs cover the process for loan forgiveness and supplement…
  • Blog
    May 27, 2020
    A Recovery Pathway for Healthcare Organizations
    Do we have enough supplies for patients and staff? What will our financials look like? Is our crisis response working? These are questions many organizations are asking themselves as they go through this unprecedented time. As healthcare organizations return to a “new normal,” they are continuously attempting to determine what their pathway to recovery will look like. It is safe to say that…
  • Blog
    May 28, 2020
    Compliance Assurance During the Time of COVID-19 – And Beyond
    Has there ever been a more challenging climate for the second and third lines of defence? COVID-19 has quite clearly changed the entire 2020 landscape for financial services. A flurry of economic challenges and hurdles has put tremendous pressure on the business models of both traditional organisations and upstart, digitally native firms. Risk functions, in addition to dealing with financial…
  • Blog
    May 28, 2020
    New SOX Survey: COVID-19 Environment Further Drives Need for Greater Automation and Technology Adoption for Compliance Processes
    Only 46% of audit teams are utilizing advanced technologies to optimize compliance processes - a decrease from last year, according to a just-released Sarbanes-Oxley survey by Protiviti. The longstanding challenges associated with compliance with the Sarbanes-Oxley Act, such as cost and reliance on time-consuming manual tasks, are being exacerbated by the COVID-19 pandemic, as finance and audit…
  • Blog
    May 29, 2020
    Rethinking Offshoring? Ideas to Consider as Momentum for Nearshoring Builds
    After two decades of  offshoring manufacturing jobs to low-cost countries thousands of miles away, many organizations in the developed parts of the world are beginning to reconsider that strategy. Even before the U.S. tariffs on Chinese imports and the COVID-19 pandemic, organizations had begun exploring opportunities to return manufacturing operations closer to home – a practice known as “…
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