As Regulators Boost Market Surveillance Capabilities, Firms Should Enhance Self-Monitoring to Reduce Trading Violations
Regulatory fines in any industry are not new. For as long as there have been regulations, hefty fines have served as the clearest and most concise method for regulators to publicly rebuke corporate offenders and wrongdoers. Over the last decade, the financial services industry has seen multiple billion-dollar fines, and they have been so recurrent […]
Proposed Rule for Drug Enforcement Administration Theft Reporting
On Wednesday, July 29, 2020, the U.S. Department of Justice’s Drug Enforcement Administration (DEA) proposed a new rule that clarifies that the submission of DEA Form 106 (Report of Theft or Loss of Controlled Substances) shall be submitted electronically through the DEA Diversion Control Division’s secure network within fifteen (15) days of discovery and must […]
To Meet Today’s Challenges, CAEs Must Stay Focused on Next-Gen Internal Audit Practices
Progress often moves in fits and starts, and that, apparently, is the case with next-generation internal auditing (IA), according to Protiviti’s 2020 Internal Audit Capabilities and Needs Survey, published earlier this month. The survey was conducted in the last quarter of 2019, before the COVID-19 pandemic disrupted businesses and their well-laid audit plans. There is […]
Ongoing Risks of Government Lending Programs
I had the opportunity last week to participate in a webinar hosted by the Los Angeles Chapter of The Risk Management Association (RMA), titled “Ongoing Risk Implications of Government Lending Programs.” Joined by my Protiviti colleagues Ariste Reno and Rhonda Gallion, we discussed the current bank regulatory environment, credit risk issues, and fraud and compliance […]
Understanding Spend Is Key to Building Business Resilience in the New Normal
Spend analysis is frequently identified as a critical procurement capability. Yet surprisingly, few organizations actually conduct this activity on a thorough or regular basis. Many organizations think of spend analysis as necessary only when they are about to embark upon strategic sourcing events, or when they need spend data totals to use in preparing RFPs […]
A Tale of Two Crises — Hurricane Preparedness in the Midst of COVID-19
Oil and gas (O&G) organizations have been drastically affected by COVID-19 amid the impacts to the economy, including constrained demand for all O&G products and the necessity of changing business structures and having employees work remotely. However, these lessons learned, if applied mindfully, may help organizations effectively respond to future business interruptions. Case in point: […]
