Results for Search Submit Filter by: Advanced Filter All results Solutions Industry People Client Story Insights/Blogs Filter Blog August 11, 2020 Know Your Customer: It’s All About Risk In early 2017, Protiviti published a white paper titled Remediate Risk, Not Files: Breaking the KYC Remediation Cycle. Primarily authored by my colleague Matt Taylor, the paper proffered that one of the main reasons financial institutions have found themselves caught in an endless cycle of Know Your Customer (KYC) remediation is that their remediation efforts are focused on papering the file and… Blog August 13, 2020 Internal Audit Leaders Need to Step Up Next-Gen Innovation and Transformation Initiatives, Protiviti Survey Finds According to the findings from Protiviti’s 2020 Next Generation Internal Audit Survey, chief audit executives (CAEs) and internal audit leaders report their next-generation competency levels in three vital areas – governance, methodology and enabling technology – to be remarkably low. There is a danger that, if increasing these competencies and transforming the audit process is not viewed as a… Blog August 14, 2020 A Tale of Two Crises — Hurricane Preparedness in the Midst of COVID-19 Oil and gas (O&G) organizations have been drastically affected by COVID-19 amid the impacts to the economy, including constrained demand for all O&G products and the necessity of changing business structures and having employees work remotely. However, these lessons learned, if applied mindfully, may help organizations effectively respond to future business interruptions. Case in point… Blog August 18, 2020 Understanding Spend Is Key to Building Business Resilience in the New Normal Spend analysis is frequently identified as a critical procurement capability. Yet surprisingly, few organizations actually conduct this activity on a thorough or regular basis. Many organizations think of spend analysis as necessary only when they are about to embark upon strategic sourcing events, or when they need spend data totals to use in preparing RFPs in the marketplace. Even then… Blog August 20, 2020 Ongoing Risks of Government Lending Programs I had the opportunity last week to participate in a webinar hosted by the Los Angeles Chapter of The Risk Management Association (RMA), titled “Ongoing Risk Implications of Government Lending Programs.” Joined by my Protiviti colleagues Ariste Reno and Rhonda Gallion, we discussed the current bank regulatory environment, credit risk issues, and fraud and compliance issues related to government… Blog August 25, 2020 To Meet Today’s Challenges, CAEs Must Stay Focused on Next-Gen Internal Audit Practices Progress often moves in fits and starts, and that, apparently, is the case with next-generation internal auditing (IA), according to Protiviti’s 2020 Internal Audit Capabilities and Needs Survey, published earlier this month. The survey was conducted in the last quarter of 2019, before the COVID-19 pandemic disrupted businesses and their well-laid audit plans. There is no doubt that the… Blog April 23, 2020 An Intelligent Workplace Can Help Finance Leaders Navigate the COVID-19 Turbulence and Future Disruptions When Protiviti conducted a top risks survey among more than 1,000 executives and board members in the third quarter of 2019, few had imagined the risks they’d be facing today brought by the COVID-19 pandemic. More than half of the finance professionals who attended a recent webinar on creating an intelligent workplace said they never saw this type of disruption coming. Less then a quarter had a… Blog April 23, 2020 U.S. Congress Agrees to Additional $310 Billion for Paycheck Protection Program On April 21, the U.S. Senate approved legislation authorizing additional COVID-19-related funding, including $310 billion in supplemental funding for the Paycheck Protection Program (PPP). The U.S. House approved the legislation on April 23, and President Trump is expected to sign it tomorrow. The PPP funding program went live on April 3 and the initial tranche of $349 billion in available… Blog April 24, 2020 The CARES Act: Understanding Expectations for Healthcare Providers When I was a teenager, my grandmother sent me a check for $50. It was a complete — but welcome — surprise. My grandmother told me she wanted to help me out while I was looking for a part-time job. What I learned, however, was that there were indeed some strings attached to her gift. I spent many hours at her home over the following months doing numerous chores and tasks. I realized the gift was… Blog April 24, 2020 After the Virus: Reassessing and Future-Proofing Your Business From a Customer Experience Perspective When the coronavirus pandemic eventually subsides and the economy begins to recover, many businesses can expect significant challenges rebuilding relationships with customers whose mindsets, priorities, buying habits and spending powers have been significantly altered during this period of social isolation. Nothing is going back to the way it was. Even when many of the current social… Load More
