CAE Agenda: Your Monthly Audit News Roundup

Whitney Sunset by Michael Rosenberg

CAE Agenda: Your Monthly Audit News Roundup


Protiviti wishes everyone a Happy New Year! To start the year off well-informed, please find below the January edition of the CAE Agenda, Protiviti’s monthly roundup of internal audit news and developments for financial services organizations.

We hope our monthly newsletter will continue to be a valuable source for audit executives to stay informed on the industry and regulatory developments impacting your organization.


News and Trends

  1. Financial Groups Support AML Modernization Bill

    On January 4, various financial groups, such as the ABA, CBA, IIB, and SIFMA, in a joint letter expressed their support of the draft Counter Terrorism and Illicit Finance Act, cosponsored by Chairmen Pearce and Luetkemeyer.

  2. Federal Reserve Board requests comment on proposed guidance

    On January 4, the Federal Reserve Board requested comment on proposed guidance that would clarify the Board's supervisory expectations related to risk management for large financial institutions.

  3. MiFID II goes into effect

    MiFID II was implemented on January 3, 2018 as the new EU regulation framework for firms who deal in financial instruments with clients. MiFID II has a number of significant ramifications for firms, including dealing with technology changes, strategic decisions, and data challenges. Bloomberg had a quick take on how MiFID II promotes fairness and the current situation of banks and brokerages here.


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February 1, 2018 – IIA FSAC Webinar: Emerging Risks in the Financial Services Industry

Emerging Risks in the Financial Services Industry

Latest Insights from Protiviti​

Setting the 2018 Audit Committee Agenda

Based on interactions with client audit committees, roundtables we have held in 2017, surveys we have conducted, and discussions with directors in numerous forums, we have identified agenda items for audit committees to consider in 2018.

Our suggested agenda consists of eight issues — four pertaining to enterprise, process and technology risks and four to financial reporting related risks.

Executive Perspectives on Top Risks for 2018

Protiviti partnered with North Carolina State University’s ERM Initiative to conduct our sixth annual Executive Perspectives on Top Risks Survey. Among the many highlights in this year’s results:

  • Organizations have a greater focus on the risks associated with the rapid speed of disruptive innovations and dramatic changes that new technologies may have.
  • Digital- and culture-related areas are more prevalent risk issues for boards and executives.

Join Us Online

January 11, 2018 – Webinar: The Year Ahead for AML

Compliance Financial institutions are continually evolving their AML CFT and sanction compliance programs to meet ever-changing regulatory requirements and resolve complex challenges in today's environment. 2018 will bring new challenges as well as exciting opportunities to enhance the efficiency and effectiveness of AML and sanction compliance efforts. Join Protiviti's AML subject matter experts as we provide an overview of the issues and opportunities in the year ahead. Register here.