Archive - January 2020

In Latest Operational Resilience Proposals for UK Institutions, Regulators Outline Expectations for Outsourcing Arrangements and Third-Party Risk Management

Financial institutions should expect their outsourcing and third-party risk management practices to come under increased scrutiny as part of the growing regulatory focus on the operational resilience of the financial services sector. The series of...

CECL and the New AICPA Practice Aid (Part 2): Financial Statement Presentation and Enhanced Financial Statement Disclosures

New accounting standards that fundamentally change the way financial services organizations calculate current expected credit losses (CECL) took effect for large institutions on January 1, 2020. The new standards are part of a broader effort to...

Make ESG Part of the Public Company Readiness Checklist — Your Valuation Could Depend on It

The public company readiness checklist for any business working toward an initial public offering (IPO) is long and complicated. And now, there are signs in the marketplace that for many companies aiming for an IPO, this checklist may need to...

RPA Deployments Remain Untapped Opportunities for Oil and Gas Companies

Energy and utilities businesses, like many companies, can benefit from using robotic process automation (RPA) to drive efficiencies, boost speed to market and bolster financial performance. However, many of these firms — and oil and gas companies...

A Rise in Collaboration Between Internal Audit and IT Is a Welcome Trend

In mid-October, Protiviti and ISACA released the 2019 Global IT Audit Benchmarking Study, for which we surveyed more than 2,200 internal audit (IA) executives and professionals around the world. We summarized the key findings of the survey in this...

LIBOR Transition: Preventing History From Repeating Itself

The London Interbank Offer Rate, or LIBOR, which according to the New York Times is the “one number that arguably matters more than any other” in the world of finance, will no longer be the primary benchmark rate used by the financial services...