CAE Agenda: Your Monthly Audit News Roundup - February 2021



Our team has collected the top internal audit news, insights and resources for financial services organizations to help you and your teams.

Thank you for reading the February edition of the CAE Agenda.


Executive Perspectives on Top Risks 2021 and 2030

The range of uncertainties facing business leaders around the globe is overwhelming. Challenges triggered by the COVID-19 pandemic continue to unfold. Staying abreast of emerging risk issues and opportunities is becoming increasingly difficult.

We are pleased to announce the release of our Executive Perspectives on Top Risks for 2021 and 2030 research report. In this ninth annual survey, Protiviti and NC State University’s ERM Initiative assess the top risks on the minds of global boards of directors and executives in 2021 and, in a new dimension to this study, over the next 10 years. Our respondent group includes 1,081 board members and C-suite executives from around the world.

Learn more and read our report, Executive Perspectives on Top Risks for 2021 and 2030, at


SBA Updates PPP FAQs, Provides Guidance on Shuttered Venue Grants

On January 30, the Small Business Administration updated its set of frequently asked questions on the Paycheck Protection Program. The updated FAQs clarify that the Financial Crimes Enforcement Network’s April 2020 PPP FAQs still apply to second-draw PPP loans. They also clarify that lenders may rely on information obtained from a borrower during a first-draw loan application for a second-draw application, provided the borrower is an existing customer.


Read FAQs

BAI Banking Outlook: The Widespread Fear of Fraud

Recent BAI research reveals that fraud is the number one digital banking concern across generations, and those concerns are only increasing. Financial services leaders need to address those worries if they hope to continue to maintain consumer trust and eliminate potential barriers to growth.


Check Out the Infographic

OCC Pauses Publication of Fair Access Rule

On January 28, the Office of the Comptroller of the Currency (OCC) announced that it will pause the publication of a controversial final rule stating that banks should provide access to services, capital and credit based on their risk assessment of individual customers and not make broad-based decisions that affect whole categories or classes of customers. The rule—which was finalized earlier this month on the eve of Acting Comptroller of the Currency Brian Brooks’ departure from the agency—will undergo a review by the next confirmed comptroller “as part of an orderly transition,” the OCC said.


Read Article

Libor’s Endgame in the U.S. Requires Urgent Preparation

In this January 28 Bloomberg op-ed, Tom Wipf, chairman of the Alternative Reference Rates Committee (ARRC), emphasizes the need for public- and private-sector participants to work together in preparation for the cessation of the London Interbank Offered Rate.


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Bank Secrecy Act/Anti-Money Laundering: Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other AML Considerationss

On January 21, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Financial Crimes Enforcement Network (FinCEN) issued responses to frequently asked questions regarding suspicious activity reporting and other anti-money laundering (AML) considerations for financial institutions covered by suspicious activity reporting rules.


Read Bulletin

Biden's Impact on Business: After a Year of Rapid Business Changes, Internal Auditors Must Help Their Organizations Address the Policies of the New President.

For internal auditors who spent 2020 helping their organizations weather the COVID-19 storm, it's time to shift to assessing the impact of the changes coming from the Biden administration and advising their organizations on what to expect. There's going to be a lot to cover, so auditors need to get up to speed.


Read Article


Top-of-Mind Compliance Issues for 2021

No 2020 “year in review” for us. While we admit, as you will note in the commentary below, that we can’t completely forget about 2020, it’s time to move on and prepare for the challenges ahead.
We’ve identified 12 issues, in no particular order, that we think should be top of mind for management and compliance professionals this year. In this article, we offer brief commentary on each of these topics, which we will address in more detail each month.

The Biden Administration: The First 100 Days and Winners and Losers

The news of the cyber attacks being experienced by government agencies and an expanding list of organizations continues to grow and change on almost an hourly basis. This is proving to be potentially one of the most significant cyber breaches in recent times. Following up on our December 14, 2020, Flash Report on the CISA advisory, and in response to numerous questions and inquiries we continue to receive, we are providing further detail and insights in this follow-up Flash Report regarding indicators that an organization’s IT environment has been compromised, along with recommended courses of action.


What Tech Leaders Can Expect in 2021 – A 30,000 Foot View

2020 was a year for the ages, full of unanticipated twists and turns that kept many a technology leader awake at night. That makes the start of 2021 a perfect time to look confidently ahead at what the next 12 months might bring to the already-full dockets of most CIOs and CISOs. Each Protiviti expert we talked to agreed there are several key priorities on which tech leaders should focus their efforts in 2021.

Lessons for Business Resilience Planning

Protiviti’s Damin Owen lays out 10 key concepts organizations should consider in 2021 when implementing continuity risk management, crisis management, and business resumption plans.

Read Article

CFO Insights: Change the Way Finance Works

Protiviti’s latest newsletter, CFO Insights, summarizes the latest news, blogs, articles and webinars curated specially for the finance audience.

Read January Edition



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