On October 6, the Financial Accounting Standards Board (FASB) approved the final deadlines for the implementation of four major accounting standards, including CECL (Accounting Standard Update 326-13). For large public...
Archive - October 2019
Lease Accounting Changes: The Journey So Far
Many public companies have spent the better part of the last two years reworking lease accounting practices to comply with a new accounting standard that went into effect for calendar-year reporting entities on January...
Internal Audit Innovation for the Next Generation
The Protiviti View is examining some of the ways internal audit (IA) departments around the world are reinventing themselves, drawing on the experience of 16 innovators profiled in Internal Auditing Around the World...
New IT Audit Survey From Protiviti and ISACA Ranks Privacy, Data, Resources as Top Challenges
This week, Protiviti released its 2019 Global IT Audit Benchmarking Study, the eighth annual audit research project conducted in partnership with ISACA. More than 2,200 chief audit executives (CAEs), internal audit...
Learning From Clients: “Fix What We Have”
Protiviti and Robert Half frequently host summits with our clients to understand their views on various topics. We very much value our clients’ time, and these forums provide us an opportunity to listen to and learn...
Internal Audit Leaders Adopt Agile Methods to Meet Next-Gen Audit Expectations
The Protiviti View has been examining some of the ways internal audit departments around the world are reinventing themselves, drawing on the experience of 16 innovators profiled in Internal Auditing Around the World...
With a Change in the Credit Cycle, a Rise in Special Assets Is Likely – Is Your Institution Prepared?
In early 2016, the then-Comptroller of the Currency, Thomas Curry, issued a strongly worded report. “In the area of credit risk, the warning lights are flashing yellow,” he wrote in the OCC’s Semi-Annual Risk...
The OCC’s 2020 Supervision Plan Targets Emerging Risks Facing Financial Institutions
In its 2020 fiscal year bank supervision operating plan, the Office of the Comptroller of the Currency (OCC) identifies cybersecurity and operational resiliency, Bank Secrecy Act/anti-money laundering compliance...
SOX Control Awareness and Communication Is One Way Organizations Can Help Reduce Costs and Hours
Protiviti’s 2019 SOX survey shows that companies, with the help of technology, are finally beginning to make headway in the 15-year battle to rein in SOX compliance costs and rising control counts. A few weeks ago, we...
Emerging Technology Companies: Don’t Forget to Manage Security in the Cloud
Data breaches only happen to other companies — that’s true right up until the minute your company, believing itself secure, gets hacked and finds that the personal data of millions of its customers has been exposed. A...