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  • Blog
    Check Your Blind Spot: GDPR Poses Veiled Risks for M&D Companies
    Executives that participated in Protiviti’s latest annual top risks survey, conducted with North Carolina State University ERM Initiative, ranked regulatory changes and scrutiny as a top-five risk in 2018. That’s hardly a shocker, considering that respondents typically identify regulatory issues as a top concern each year. Companies unaware that regulatory changes could affect them are at even…
  • Blog
    Analytics in Auditing Is a Game Changer – New Protiviti Survey Released
    Organizations worldwide are undertaking business and digital transformation initiatives, enabling changes that will have far-reaching effects on every enterprise function. Not surprisingly, the ability to utilize data analytics and big data to achieve competitive advantage and manage operations and strategic plans ranks among the top risk issues for board members and C-suite executives worldwide…
  • Blog
    Disruptive Innovation Front and Center for Manufacturers and Distributors in 2018, According to Survey
    Digitalization has been called the fourth industrial revolution. New business models are emerging to keep up with the rapid pace of change, and not surprisingly, they are being met with some predictable internal resistance and cultural challenges. As these more agile and automated models rely to an ever-greater extent on technology and third-party suppliers, supply chain risk is an increasing…
  • Blog
    Market Volatility: Is Your IPO Ready to Go?
    January 2018 set a record for initial public offerings (IPOs), with 17 companies raising almost $8 billion, surpassing the record of January 2014, when 12 IPOs raised $5.3 billion. That pace slowed considerably in February, however, amid substantial market volatility. It is easy to understand why companies – or their underwriters – grew shy of IPOs amidst the market swings. IPO activity…
  • Blog
    SEC on Cyber Risk Assessments: Show Us the Cost of Your Loss
    Last week, an important Securities and Exchange Commission (SEC) Interpretive Guidance, which we analyzed in a Protiviti Flash Report, set the bar for corporate cybersecurity risk assessments. One particular aspect of the new guidance relating to how companies conduct risk assessments and report on cybersecurity risks is the need to understand “the range and magnitude of the financial impacts” of…
  • Blog
    It Is Time to Bring Order to the M&D Lease Universe
    Public company accounting departments closing the books on 2017 may find it difficult to take a breath. Fresh from filing their 10-K and finalizing their preparation for the FASB’s new revenue recognition standard (ASC 606) effective in 2018, it is time to prepare for a new lease accounting standard (ASC 842). The new standard goes into effect for fiscal years beginning after December 15, 2018…
  • Blog
    2018 Audit Committee Agenda Continued: Corporate Culture
    Internal auditors often talk about the “tone at the top” — the idea that corporate culture begins with the example set by senior management. But while conduct at the top is where it all starts, it does not end there. An increasing number of companies are beginning to realize that if the tone in the middle is not aligned with the tone at the top, there could be serious risks lurking within the…
  • Blog
    Simplifying the Modeling Challenges in PPNR
    As a crucial part of capital planning, Pre-Provision Net Revenue (PPNR) modeling has been under the spotlight for careful review and scrutiny from the Federal Reserve Board (FRB) since 2012 for the annual Comprehensive Capital Assessment and Review (CCAR) submission. Although bank holding companies (BHCs) have become better equipped at utilizing PPNR models for capital planning purposes in recent…
  • Blog
    Focus on Culture: How Culture Assessments Can Support the Audit Committee’s Agenda
    In an earlier post, I discussed corporate culture as one of the items Protiviti recommends audit committees focus on as they shape their agendas for 2018. I want to follow up with some suggestions on how organizations might include a culture assessment in their plans for the year. There are several different ways to approach a culture assessment. The internal audit functions of some…
  • Blog
    Internal Audit Capabilities and Needs Survey: The Analytics Imperative
    As internal audit practitioners seek to evolve and transform their functions, to keep pace with the transformation occurring within their organizations, internal auditors are increasingly assessing and consulting on a wide variety of risks, including digitalization, cybersecurity, enterprise risk management, fraud risk, vendor risk and corporate culture. These new areas now dominate the global…
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