No Stone Unturned: Key Considerations for Finalizing CECL Model Implementation and Validation
With a December 31st deadline looming for SEC reporting financial institutions under the Financial Accounting Standards Board’s (FASB) new Accounting Standard Update (ASU) on Current Expected Credit Loss (CECL), institutions are in various stages of finalizing their models and model documentation, performing model validation and testing, performing parallel runs and updating processes and procedures. CECL […]
Experiment. Learn. Repeat. What a World Tour of Internal Audit Reveals About Next-Gen Transformation.
A critical mass of factors has led internal audit functions to a watershed moment: They must disrupt or be disrupted. At Protiviti, we refer to the innovation and transformation internal audit functions must pursue as next-generation internal audit. These efforts — already underway in a growing number of companies — vary. But they share an […]
Financial Action Task Force Set to Rate Hong Kong “Compliant” in Anti-Money Laundering Evaluation
According to a press release by the Hong Kong government, Hong Kong is set to receive an overall rating of “Compliant” in what will be its Fourth Financial Action Task Force (FATF) Mutual Evaluation. The Mutual Evaluation Report (MER) is scheduled to be released in September 2019. The expected rating represents a significant improvement over […]
Programs, Policies, Principles and People Can Move “Ethical AI” From a Nebulous Concept to a Meaningful Practice
Competitive pressures and the inherent desire to disrupt markets through innovation have technology companies moving fast to invest in advanced artificial intelligence (AI). As they do, many of these businesses — industry giants and startups alike — are racing to embrace “ethical AI.” They are acknowledging a need to demonstrate to their stakeholders and the […]
Emerging Companies and Innovation for the Back Office
In the throes of rapid growth, it isn’t always easy to see how the wrong choice of a labor model can put a young business at risk. Startups sometimes take an old-school approach to building the back-office team themselves, resulting in an inflexible and sometimes inadequately skilled staff that could limit the new business’ growth. […]
