On the heels of the Financial Accounting Standards Board’s (FASB) new revenue recognition standard, which becomes effective for calendar-year public companies beginning January 1, 2018, the accounting and internal audit...
Archive - May 2017
The Importance of Data Lineage for AML Systems
Financial organizations have long embraced the advantages that information technology offers, and many are looking forward to larger digitalization initiatives to gain market advantage. Customers appreciate the...
Pro-Growth Signs in Washington Present Opportunity for Power and Gas Capital Investments
Power utilities trying to gauge what the future regulatory landscape will look like are likely getting frustrated with the political cacophony in Washington. Yet judging by legislative activities in Congress and some of...
Digital Transformation Success Requires Looking Inward First and Never Wearing Blinders
To stay relevant in the digital economy, technology, media and communications companies must evolve on two fronts: externally and internally. The trick is that they must do both in tandem — and many find this difficult...
States Champion Regulatory Streamlining; CFPB Remains Focused on Consumer Loan Servicing and Fair Lending
While regulatory relief remains a topic within the Beltway, the Conference of State Bank Supervisors (CSBS), the nationwide organization of financial regulators from all 50 states, the District of Columbia, Guam, Puerto...
Retailers, Tech Firms and Financial Services Providers: It’s Time to Shape the Future of Mobile Payments — Are You Ready?
The global mobile payments market is projected to reach US$780 billion by the end of 2017, according to research firm TrendForce. That figure seems impressive until you consider that the ability to pay for goods and...
Was Friday’s Ransomware Attack Covered in Your Cyber Plan?
Less than a month ago, my colleague Adam Brand talked about the need to include ransomware in the cybersecurity repertoire of companies, emphasizing a business outcome-driven approach to cybersecurity, rather than a...
The Internet of Things: A Game Changer for IT Audit
I recently had the honor of attending the ISACA’s 2017 North America CACS Conference in Las Vegas, where I discussed how the Internet of Things (IoT) continues to transform the mission of IT auditors. The IoT is a...
The Power of Small Changes in Pursuing Digital Transformation: A Retail Perspective
Adaptability has always been critical to retail success. But in the digital era, where disruptive change is constant, many retailers find it difficult to evolve fast enough to remain competitive — let alone relevant...
From Analog to Analytics: 2017 a Turning Point for Internal Audit
With increasing demands for broader, more accurate and more efficient risk assurance, internal audit departments have officially entered the age of analytics. According to Protiviti’s 2017 Internal Audit Capabilities...