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...
Archive - May 2020
New SOX Survey: COVID-19 Environment Further Drives Need for Greater Automation and Technology Adoption for Compliance Processes
Only 46% of audit teams are utilizing advanced technologies to optimize compliance processes – a decrease from last year, according to a just-released Sarbanes-Oxley survey by Protiviti. The longstanding...
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...
A Recovery Pathway for Healthcare Organizations
Do we have enough supplies for patients and staff? What will our financials look like? Is our crisis response working? These are questions many organizations are asking themselves as they go through this unprecedented...
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...
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...
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...
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...
Paycheck Protection Program: A Forgiveness Application, But Still No Regulations
Amidst media reports that significant changes to the Paycheck Protection Program (PPP) may be forthcoming to provide greater leeway for how loan proceeds are used and to extend the current eight-week period for spending...
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...