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  • Blog
    The OCC’s 2020 Supervision Plan Targets Emerging Risks Facing Financial Institutions
    In its 2020 fiscal year bank supervision operating plan, the Office of the Comptroller of the Currency (OCC) identifies cybersecurity and operational resiliency, Bank Secrecy Act/anti-money laundering compliance management, commercial and retail credit underwriting practices, and commercial and retail credit oversight and control functions  among its top supervisory priorities. In…
  • Blog
    With a Change in the Credit Cycle, a Rise in Special Assets Is Likely – Is Your Institution Prepared?
    In early 2016, the then-Comptroller of the Currency, Thomas Curry, issued a strongly worded report. “In the area of credit risk, the warning lights are flashing yellow,” he wrote in the OCC’s Semi-Annual Risk Perspective. “We can’t wait until the warning lights turn red.” According to the OCC, 2016 marked the fourth straight year that underwriting practices had loosened. Curry noted that banks…
  • Blog
    Internal Audit Leaders Adopt Agile Methods to Meet Next-Gen Audit Expectations
    The Protiviti View has been examining some of the ways internal audit departments around the world are reinventing themselves, drawing on the experience of 16 innovators profiled in Internal Auditing Around the World, Volume 15. This post looks at ways internal audit teams are adopting fast and flexible “agile” development methodologies to better align audit activities with business processes…
  • Blog
    Learning From Clients: “Fix What We Have”
    Protiviti and Robert Half frequently host summits with our clients to understand their views on various topics. We very much value our clients’ time, and these forums provide us an opportunity to listen to and learn from those we serve. This post is our second in a three-part series to share lessons from a recent CFO panel. Our first post discussed the value of resources who went…
  • Blog
    New IT Audit Survey From Protiviti and ISACA Ranks Privacy, Data, Resources as Top Challenges
    This week, Protiviti released its 2019 Global IT Audit Benchmarking Study, the eighth annual audit research project conducted in partnership with ISACA. More than 2,200 chief audit executives (CAEs), internal audit professionals and IT audit vice presidents and directors across the globe participated in the study. These professionals revealed the key technology challenges they face, including a…
  • Blog
    Internal Audit Innovation for the Next Generation
    The Protiviti View is examining some of the ways internal audit (IA) departments around the world are reinventing themselves, drawing on the experience of 16 innovators profiled in Internal Auditing Around the World, Volume 15. We examined various specific technologies and approaches (RPA, analytics, and agile auditing techniques) and the way they are being applied by leading audit departments.…
  • Blog
    Lease Accounting Changes: The Journey So Far
    Many public companies have spent the better part of the last two years reworking lease accounting practices to comply with a new accounting standard that went into effect for calendar-year reporting entities on January 1,, 2019. Private companies have been given an extra year to manage the transition and are expected to be compliant beginning January 1, 2021. This is a complex and resource-…
  • Blog
    With FASB Deadlines Finalized, a Final Checklist for CECL Readiness
    On October 6, the Financial Accounting Standards Board (FASB) approved the final deadlines for the implementation of four major accounting standards, including CECL (Accounting Standard Update 326-13). For large public filers, the switch flips on December 15, 2019, impacting calendar reporting entities on January 1, 2020, as anticipated. With the deadline just around the corner, those…
  • Blog
    Report: UK Regulators Urged to Hold Firms and Individuals Accountable for “Unacceptable” Number of IT Failures
    The UK government’s Treasury Select Committee is raising the stakes on accountability for IT failures within the financial services industry, describing the current level and frequency of operational disruption and consumer harm as “unacceptable” in a report published on 28 October, 2019. “With bank branches and cash machines disappearing, customers are increasingly expected to rely on online…
  • Blog
    Client Lesson #3: “Don’t Send Me Resumes, I Need a Partner.”
    Protiviti and Robert Half frequently host summits with our clients. These forums provide us an opportunity to listen to and learn from those we serve. We value our clients’ time and the opportunity to understand their views on various topics. This is the final post in a three-part series to share lessons we learned at a recent summit. Our first post discussed the value of resources who went into…
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