Regulatory Update
On May 3, the SEC issued more guidance on a variety of topics related emerging growth companies. While this additional guidance does not represent rules, regulations or statements of the Commission, it reflects the SEC staff’s thinking on matters germane to the rules related to an emerging growth company (EGC). This Flash Reports summarizes some of the points included in the SEC staff’s latest guidance.
Participation Request
Assistance with Design Testing!
We are looking for some KnowledgeLeader users to review a new site design and give us feedback via a short survey. If you are interested in participating, please send an email to Katrina.sherman@protiviti.com.
Newsletter and Related Poll
There are three fundamental building blocks of effective cash management: working capital optimization, cash flow forecasting and liquidity management. All three must be tightly linked to maximize cash flow benefits.This issue of The Bulletin focuses on aspects of working capital optimization, the first building block. The related poll question asks: When managing its cash, does your organization focus on three fundamental building blocks: working capital optimization, cash flow forecasting and liquidity management?
Compliance Week Article
Travel and entertainment expenses have long been a haven for abuse, but since the dollar amounts are often insubstantial, companies don't always pay close attention to them. Companies are now finding, though, that they can be a conduit for bribes. "If T&E goes unchecked, it can make a company susceptible to allegations of corruption," says Andrew Levi, , a former assistant U.S. attorney. How to root out fraud? More inside.
Auerbach Article
This article talks about the significance of an enterprise social network environment which aims at improving interaction among employees to foster better relationship and achieve a common goal.
Checklists and Questionnaires
This questionnaire allows the audit committee to document the risks that could significantly influence the organization, and the related financial and operational impact.
Updated Policies
This policy establishes information security policies setting baseline criteria for access to, through, or from an organization’s communication networks. It is intended to set the information security criteria, means, methods and measures to protect the confidentiality, integrity and availability of information assets and communication networks.
The purpose of this policy is to establish procedures and requirements to ensure the appropriate protection and continuous operation of a company’s firewall infrastructure.
Announcement
How does your organization rate? You are invited to take our second annual survey, which analyzes the underlying IT audit trends facing the internal audit profession today. This study will help the profession gain valuable and important insight into the status and stature of IT audit processes across multiple industries and company sizes. The survey will take approximately 15 minutes to complete. No login ID or password is required to access the survey. We plan to compile the results of this survey and distribute a publication in the fall of 2012.
Featured Link
The IIA encourages chapters and Institutes around the world to participate in this important celebration to promote the profession internally to audit customers, executive management and the board, as well as to various outside target markets within their local business communities. In the month of May, chapters and Institutes are encouraged to showcase the value of the internal audit activity in a wide variety of ways. Source: www.theiia.org
Featured Events
Tuesday, 5/22 at 8:30am PT (60 mins.)
Corruption may not be an issue for your organization but the heightened government focus on fighting corruption and bribery could impact your business. Join this webinar to discuss leading practices to evaluate, mitigate and monitor potentially costly financial and harmful reputation risks. Topics include trends in Corruption/Bribery risks and regulatory landscape (including FCPA fines and implementation of the U.K. Bribery Act.)
Tuesday, 5/22 at 10:00am PT (60 mins.)
Banks of all sizes are undertaking significant efforts to fulfill risk-based capital requirements. In this webinar, we will provide an overview of the most important regulatory developments related to capital and provide practical insights into what financial institutions should do and know when they prepare for Capital Plans and Stress Testing. Also to be discussed: what should be done to avoid a repeat of the financial crisis.
Thursday, 5/31 at 10:00am PT (90 mins.)
According to the latest findings from Protiviti/AHIA's 2012 Internal Audit Capabilities and Needs Survey, the role of internal auditors is increasingly becoming more strategic in healthcare organizations. This webinar will reveal top healthcare priorities and the expanding importance of internal auditors' role in overall performance and management.
From the Archive
This checklist should be used when planning the nature, timing and extent of work on an individual audit assignment. The audit team can use it in connection with a planning and scoping memorandum template to prepare detailed instructions for the work. We hope you like this tool as much as your fellow subscribers!
CCH Tax and Accounting – Accounting Research Manager
- JOBS Act -- SEC Staff Updates Guidance for Confidential Review Under the JOBS Act
- Crowdfunding -- SEC Staff Provides Guidance on Crowdfunding Under the JOBS Act
- Hedge Accounting -- SEC Staff Issues Letter to Industry on Hedge Accounting
- Nontraditional Engagements -- New Edition of Knowledge-Based Nontraditional Engagements Published
- Public Entities -- New Edition of Knowledge-Based Audits of Public Entities Published
- GASB Report Issued -- GASB Hierarchy Project Discussed