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Use CECL user testing to move from compliance to value.

Technology companies must adopt a new approach to digital risk: those that successfully develop a reputation for digital trust by demonstrating an unwavering commitment to cyber security and data privacy will be able to carve out a competitive advantage.

Move beyond compliance to performance driven risk management. Compliance and risk operations at financial services companies suffer a range of problems stemming from organizations’ efforts to achieve regulatory compliance while adjusting strategies, business models and approaches to risk. The current moment presents a real, and perhaps time-limited, opportunity to transform compliance and risk operations.

The accounting changes required to comply with Accounting Standards Codification 842 are not the most difficult part of compliance. Gathering all the data necessary to accurately reflect those changes is the biggest challenge.

Improving a company’s odds of a successful acquisition takes clear goals and a detailed, defined strategy that allows for the inevitable surprises. It should involve the early-on input and support of the company’s board of directors.

Travel and entertainment expenses are sometimes small amounts that taken individually are generally insignificant, and because the items involved are so numerous and so small, auditing them individually would be prohibitively expensive. However, these expenses taken collectively are significant.

Traditionally, the budgeting function within the public and private sector has relied on the incremental approach. This means that the previous period’s budget is carried forward to the next budget round in order to forecast current’s period budget allocation. The next budget is adjusted for known factors, including new legislative requirements, performance indicators, such as response times, and the anticipated levels of cost and salary inflation.

ASC 606 revenue recognition standard will affect the revenue recognition of most companies. While this implementation takes place, companies should also focus on the opportunity for an enhanced revenue stream.

Companies have been employing digital technology for years, but they are only now committing themselves to pursuing durable digital transformations.

How boards and executive teams communicate about risk, among themselves and through the ranks, determines much of the organization’s approach to risk. Leaders who have been focused on risk management primarily as compliance typically need to examine and discuss the broader risk picture.

In recent years, the world has seen exponential growth in the amount of data being captured, processed and stored by organizations, mirrored by a relative reduction in the cost of data storage itself. As a result, the timely, accurate analysis and appropriate management of these vast amounts of data (‘big data’) is where organizations can recognize real business value.

This new update helps organizations manage risk differently - it paves a new path towards the evaluation of how risk is used in the strategic decision making process, which ultimately affects an organization’s performance.

Achieving high performance in the current business environment demands an understanding of not only risk and risk management, but also truly integrated risk management and how to realize it.

Half of middle market companies have bought or sold all or part of a business, or have merged with one. Read the takeaways from the National Center for the Middle Market (NCMM) survey.

It takes an upfront analysis of your own company as well as a comprehensive look at a target to be sure your growth strategy is aligned with what you’d gain from an acquisition.

Most commercial property insurance policies provide coverage for business income loss (business interruption) by including an endorsement to the insured property policy. This endorsement is designed to protect the insured for losses of business income sustained as a result of direct physical loss or damage to property at the premises, by a covered peril.