A Firm Shall Not Live On Compliance Alone
Having dined on compliance consulting work for the last three years, Protivity, a wholly-owned subsidiary of staffing firm Robert Half International, is ready for its next course.
Established in May 2002, Protiviti enjoyed a running start when it went to work helping U.S. public companies navigate the complex Sarbanes-Oxley Act, the backbone of which (Section 404) is based on the internal controls framework developed by the Committee of Sponsoring Organizations (COSO). A few months ago, COSO unveiled its new "enterprise risk management" ERM framework, which in many ways supports Protiviti's core offerings. Or so Protiviti consultants tell us.
The firm, a wholly owned subsidiary of staffing service Robert Half International Inc., opened its doors with about 700 employees, led by former Andersen partners.
Like other internal audit and independent accounting consultancies, Protiviti built its brand and reputation during the recent Sarbanes compliance scramble. Now, as most U.S. public companies have finally passed their initial Section 404 deadlines, many of those firms face a troubling question: What's next?
Making ongoing compliance processes more efficient will provide some work, but not nearly as much as was available leading up to Section 404 deadlines. Protiviti, which was designed to deliver "independent risk consulting," is now well positioned for opportunities that reside beyond-compliance. The firm,
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