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  • Blog
    Utilizing Technology to Streamline Documentation, Coding and Billing Requirements of COVID-19 Cases
    On April 1, 2020, the Centers for Disease Control and Prevention (CDC) announced a new ICD-10-CM code to document the diagnosis of COVID-19. The CDC originally planned to implement this code on October 1, 2020, but expedited the implementation due to the rapid spread of the novel coronavirus. The American Medical Association (AMA) and the Centers for Medicare and Medicaid Services (CMS) also…
  • Blog
    LIBOR Transition During the Pandemic: Is Your Program Management Office Ready to Take on the Challenge?
    Across the globe, governments and financial institutions continue to prepare for the shift targeted for the end of 2021, from the London Interbank Offered Rate, or LIBOR, to alternative risk-free rates (RFR). The deadline for retiring the LIBOR remains unchanged, according to various government and regulatory bodies, including the Bank of England and the Federal Reserve, despite significant…
  • Blog
    CECL and the AICPA Practice Aid (Part 4): Modeling Considerations and COVID-19
    As we continue our series of blog posts examining the AICPA Practice Aid on preparing for the new current expected credit losses (CECL) standard, this post on modeling considerations is especially timely given the economic upheaval of the ongoing COVID-19 pandemic and the dramatic effect that it is having on loss models. Many of the assumptions built into January models were no longer valid by…
  • Blog
    Data Privacy Isn’t Just One and Done: How to Stay on Top of Changes and Ensure Ongoing Compliance
    Two years ago, organizations were rushing to comply with the European Union’s (EU’s) General Data Protection Regulation (GDPR). After a flurry of activity and changes to privacy settings and disclosure, many felt they could move on once they’d checked that compliance box. But things have not remained static from a regulatory standpoint. In May, the European Data Protection Board published yet…
  • Blog
    SOX Compliance Under COVID-19: The Show Must Go On (Part 2)
    Although the Securities and Exchange Commission (SEC) granted one 45-day extension for public companies subject to Sarbanes-Oxley (SOX) reporting requirements, the regulator still expects companies to appropriately protect investors and public interest by maintaining the full rigor of internal control requirements. As a result, there are a number of challenges that need to be addressed.…
  • Blog
    Harnessing Intelligent Automation to Increase Resilience
    The COVID-19 pandemic has painted a sharp performance contrast between companies that are digitally mature and those that are not. These distinctions are likely to grow even sharper in the period following the global health crisis, with some companies permanently crossing into the world of intelligent process automation – necessitated during the lockdown by furloughs, remote work, a rise in cyber…
  • Blog
    Cloud Oversight in Financial Services: Understanding Responsibility and Control
    As financial service and financial technology companies move critical infrastructure to the cloud, they have a shared responsibility with cloud service providers (CSPs) to safeguard sensitive information. Regulators are becoming more prescriptive in their oversight of cloud operations, revealing a gap between regulatory expectations and a frequent lack of clarity among CSPs and institutions about…
  • Blog
    Persevering and Prospering in the Time of COVID-19: Keep Accounts Receivable Turning
    One of the many reasons businesses are suffering during the COVID-19 pandemic is that their customers are challenged in managing their cashflow, resulting in reducing or delaying payments. In addition, the accounts receivable function is not an easy one to operate remotely; billing operations and collections/cash application teams may be slower than usual as employees work from home. For some…
  • Blog
    Getting to Resilient: Reimagining Crisis Management and Business Continuity Planning in a New Reality
    COVID-19 has exposed glaring deficiencies in business continuity and crisis management plans at organizations across all industries. And while executives and management today are focusing the lion’s share of their efforts on responding to the day-to-day upheaval caused by the virus, they should be preparing now for the possibility of a second wave that further disrupts business. In a recent…
  • Blog
    Beyond Business Continuity Management: Building Resilience for Extreme but Plausible Events in a Post-COVID-19 World
    The concept of an extreme but plausible event is a moving and expanding target. Over time, our thinking on what can be deemed implausible or improbable will continue to evolve. The magnitude of impact from real events will reshape our view of what today is considered extreme. It is true that organizations and their business continuity management (BCM) teams often contemplate scenarios that are…
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