Protiviti, a Menlo Park, Calif., business consulting company that also offers governance, risk and compliance (GRC) software, has launched an updated version of its Governance Portal. The portal lets companies define GRC policies and procedures and perform risk and control self-assessments, Protiviti says. A survey feature lets management reach out to employees and suppliers, while an event and loss management function helps them collect loss data, including integrating with third-party sources.
Deloitte and Oracle will work together to assist companies in dealing with the switch to international financial reporting standards (IFRS), the companies announced. Deloitte's investments in IFRS tools include an Oracle IFRS solution set that aids a company's planning process for the switch to the new standards. The two say they will focus on refining the tool set to meet the specific needs of various industries.
Longview Financial Advisors has launched Klear(k), a program that lets corporate sponsors of retirement plans access exchange-traded funds (ETFs) through an investment platform operated by Foliofn, the two companies announced. Klear(k), which can be used by both defined-contribution and defined-benefit retirement plans, also provides no-load mutual funds. The recent focus on the level of fees charged by mutual funds has increased plan sponsors' interest in ETFs, which are generally low-cost.
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The first U.S. pension plans governed by ERISA have joined Northern Trust's cross-border pooling platform, the Chicago-based bank says. It did not name the companies involved, but says the pension plans are using the pooling platform to invest in a limited partnership that includes both North American and European equities. In 2008, Northern Trust received an advisory opinion from the U.S. Department of Labor confirming that U.S. pension plans could participate in such pools. The bank argues that pooling allows for more efficient investing by companies that operate pension plans in a number of countries.
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