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Volume
7
Issue
8
05/2020
Customer and Consumer Engagement | Workplace Redesign | Supply Chain Rethink | Digital Urgency | Real Estate Configuration | Changing and Emerging Business Opportunities and Risks | Climate Change and Sustainability | A Trust-Based Culture | Summary  This issue of The Bulletin is the second of our two-part discussion of the challenge in finding equilibrium in these uncertain times. In Part 1, we discussed the attributes and actions needed to find equilibrium in the likely phased transition from the coronavirus disease 2019 (COVID-19) lockdown.[1] Given that a period of ongoing change will...
Volume
7
Issue
7
05/2020
Introduction   |   Chasing a Moving Target   |   A Fluid Current State   |   Focus on Leadership and Culture: Emphasizing One Mission   |   Facilitate Employee Engagement: Making Symbiotic Times Possible   |   Apply Scenario Analysis: Planning for the Unexpected   |   Develop Your Ecosystem: Building a Community of Resources   |   Think Disruptive Innovation: Committing to What’s Possible and Practical   |   Summary For those who have read just about everything concerning coronavirus disease 2019 (COVID-19) within their capacity and attention span to absorb, the lethal message is clear: This...
Volume
7
Issue
6
03/2020
For several years, Protiviti has described the “future auditor” as a chief audit executive (CAE) who takes definitive steps toward making The Institute of Internal Auditors’ vision of “an independent, objective assurance and consulting activity that adds value and improves an organization’s operations” a reality. Several issues of The Bulletin have been devoted to describing various aspects of the future auditor’s journey.[1] The future is fast arriving with digital technologies unleashing a tsunami of opportunity and disruption that no one can ignore, particularly internal audit. As...
Volume
7
Issue
5
12/2019
The demands on boards of directors are as significant as they have ever been. Each committee of the board faces its own challenges, too, and the audit committee is no exception. With new accounting standards coming online, an increasingly active Public Company Accounting Oversight Board (PCAOB) inspections agenda, the relevance of the traditional accounting and reporting model under fire, and continued uncertainty in the geopolitical, business and regulatory environment, audit committees indeed have their hands full. As in prior years, we have identified several agenda items for audit...
Volume
7
Issue
5
12/2019
(Offered in Conjunction With Protiviti’s The Bulletin, “Setting the 2020 Audit Committee Agenda”[1]) When the audit committee undertakes an assessment of its composition, charter, agenda and focus, it may want to consider the following questions in light of the company’s industry, circumstances, risks, financial reporting issues and the current challenges it may be facing. These questions are intended to be illustrative and do not purport to cover every topic the committee should consider nor are they intended to apply to every single audit committee. They should be customized to the...
Volume
7
Issue
4
10/2019
What is the true purpose of the corporation? Does it exist principally to serve the interests of shareholders? Or is its purview more broadly to address the interests of other stakeholders affected by its activities? Should business performance focus solely on financial results and maximization of profits? Or should it also focus on other dimensions, such as environmental and social impacts in addition to financial results — the so-called “triple bottom line”?  This debate has raged ad nauseam for decades. Largely framed by the economist Milton Friedman, the prevailing notion in the United...
Volume
7
Issue
3
05/2019
In the world of the chief audit executive (CAE), stakeholders are looking for deeper insights and value. It’s a world of rapid change on economic, geopolitical, technological, social and other fronts in which the organization the CAE serves must adapt and grow or risk decline and its ultimate demise. As the risks companies face and the related audit universe change, the focus and skill sets needed by internal audit must evolve, too. But that change is not possible unless internal audit also innovates and transforms itself to keep pace with the velocity of advancements in the business. For...
Volume
7
Issue
2
04/2019
The Bulletin: Protiviti’s Review of Corporate Governance In a prior issue of The Bulletin, Protiviti discussed the evolution of sustainability; why reporting on environmental, social and governance (ESG) criteria is important; the obstacles to ESG initiatives; the ESG maturity continuum; what companies should be doing to tackle this topic; and examples of sustainability leaders.1 The premise underlying a corporate focus on sustainability is that corporate leadership is needed to enhance civilization’s ability to address critical environmental, economic and social challenges and enable the...
Volume
7
Issue
1
12/2018
The demands on boards of directors are as significant today as they have ever been. Each committee of the board faces its own significant challenges, and the audit committee is no exception. Indeed, audit committees have their hands full with new accounting standards coming into effect, an active Public Company Accounting Oversight Board (PCAOB) inspections agenda, and continued uncertainty in the geopolitical, business and regulatory environments. Even the relevance of the accounting and reporting model is currently under fire. As in prior years, we have identified several agenda items for...
Volume
6
06/2018
It’s time to close another volume of The Bulletin — our newsletter series that focuses on key corporate governance and risk management issues for organizations. This volume focuses on a variety of topics, including the essential attributes underlying a successful company’s confidence in facing the future, and the importance of improving corporate culture and promoting sustainable development. We hope these discussions help your organization thrive in an increasingly complex business environment. All issues of The Bulletin are available at www.protiviti.com/bulletin. Protiviti Inc. June 2018...