Regulatory reform for the financial services industry has become a topic of national and international debate. Once these regulatory changes go into effect, it will be a whole new ballgame for the industry.

To assist companies with understanding the new landscape and managing successfully through these uncertain times, Protiviti has formed the Protiviti Financial Crisis Team.

Nearly one in three large companies indicate that limited short-term credit availability has forced capital spending cuts, frozen or reduced hiring, and led to staff layoffs, cutbacks in inventory, and store and factory closings.

Smaller public companies have been required to comply with the management assertion requirement of Section 404 of the Sarbanes-Oxley Act for their annual report filings for fiscal years ended on or after December 15, 2007. Are you in compliance?

Internal audit plays a critical role in helping companies successfully “manage the change”. Internal auditors must continue to enhance their skills and educate themselves on new technologies and competencies.

Board members need to establish effective risk oversight. The risk oversight process ensures that the company has in place a robust process for identifying, prioritizing, sourcing, managing, & monitoring its critical risks.