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More on Risk... Privacy is on the CFO Agenda

Welcome to 2023! Now on to the new and challenging topic - Privacy. Regulators are off to the tracks on privacy laws beyond California. Most of us are familiar with the issues in Europe relative to privacy and the protection of data. The level of scrutiny is increasing here in the U.S. and showing up in the CFO's inbox. Naturally more discussion is happening in the board rooms and on overall enterprise risk management. Finance is at the center of reporting on many topics as well as reviewing and creating controls with their GC organization. Together they create the firewall on many risk and compliance issues. Watch for more on this evolving topic across the U.S. in the coming months and quarters. Audit and Compliance committees will have a full plate in '23 and beyond.

© Copyright 2023. The views expressed herein are those of the author(s) and not necessarily the views of Ankura Consulting Group, LLC., its management, its subsidiaries, its affiliates, or its other professionals. Ankura is not a law firm and cannot provide legal advice.

In the U.S. in particular, companies this year will have to comply with a flurry of new privacy laws at the state level. As of Jan. 1, two such laws became effective: the California Privacy Rights Act, which expanded the California Consumer Privacy Act, and the Virginia Consumer Data Protection Act. Later this year, three additional new privacy laws will become effective in Colorado, Connecticut and Utah.


perspective, office of the cfo, finance, financial services

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