If your internal auditors are spending too much of their time collecting, sorting and storing evidence, you’re not alone. The Public Company Accounting Oversight Board (PCAOB) recently found that up to 40% of resources are spent on manual processes instead of high-value tasks like improving the quality of findings.
If your company has a December 31 fiscal year-end, you’re likely in the throes of completing SOX year-end testing and documentation. But before you call it done, and the team moves on to other things, take time to conduct a post-mortem: What went well? What didn’t? And how can you make it better?
When COVID-19 swept across the globe in 2020, it also exposed businesses to an epidemic of cybersecurity and data privacy threats, with criminals taking advantage of the chaos to attack vulnerable targets. These once-in-a-generation developments have major implications for audit executives charged with protecting corporate assets.
If there was ever a year to be “agile” it was 2020. Fortunately, Agile and developing an agile mindset is not a new concept—it’s been around for decades. However, the importance of taking the concepts of business agility and applying them in a pragmatic way has never been more relevant.
In a perfect world, you’re ready for business disruption when it happens because you’ve prepared through structured testing and table-top exercises. Well, were you ready for COVID-19? If not, there’s no better time to revisit your business continuity plan before the next disaster strikes.
They impact everything from bonds to loans to mortgages.
At the center of the COVID-19 storm, most healthcare providers generally did an exemplary job transitioning operations from on-premises to work-from-home. But that may have been the easy part.
From repurposing robots to help hospitals care for patients to mobilizing support for a virtual workforce, businesses have quickly transformed their operations to contain the spread of COVID-19. But many worry these actions could have the unintended side effect of sidelining privacy and data protection.