• Strengthening collaboration between internal audit and risk management

    To meet OCC requirements and strategically connect the dots on assurance, compliance, and risk management, internal audit functions will need to be part of the risk management ecosystem and provide validation of the execution of risk management responsibilities by frontline units and management. This article outlines what internal audits bring to the table as well as opportunities for driving value through collaboration between risk management and internal audit, using the case example of concern about loan loss reserves.
  • Cybersecurity: It’s not just for businesses

    Our society depends on critical civic and social services provided by state and local governments. These services require effective cybersecurity to support the confidentiality, integrity, and availability of this data.
  • Insurers required to provide cybersecurity information by April 27, 2015 to the New York Department of Financial Services

    On March 26, Superintendent Benjamin Lawsky of the New York Department of Financial Services (NY DFS) issued a letter spelling out a requirement for insurers to provide information related to their cybersecurity programs by April 27. The letter states that the information requested will be used to perform a risk assessment for future inspection activities. The short response time may indicate the great sense of urgency and importance that the State of New York is placing on this initiative.
  • The pulse of healthcare: Baker Tilly healthcare update March 30, 2015

    The Centers for Medicare and Medicaid Services announced a new model for accountable care organizations (ACOs). This “next generation” of ACOs will take on increased risk compared to the current ACO models but with the intent of offering providers and beneficiaries more opportunities to coordinate care. Read more to stay on pulse.