Archive - May 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...

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...

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)...

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...

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...

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...

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...