Kuwait, 18th April, 2013:

Regulatory changes and increased regulatory scrutiny, economic conditions and global political and economic volatility are three of the biggest challenges facing businesses in 2013 according to Bob Hirth, Senior Managing Director and Global Internal Audit Leader of Protiviti (www.protiviti.com), a global consulting firm. This was highlighted by Hirth during the corporate seminar "2013 Business Challenges and How to Respond Effectively" held in Kuwait on Thursday April 18th, 2013 at the Sheraton Kuwait Hotels & Towers.

The seminar, organized by Protiviti's member firm in Kuwait, was attended by representatives from Kuwait's leading business community including a number of board and audit committee members, Chief Executive Officers, Chief Internal Auditors, Chief Risk officers, Chief Financial Officers and key technology managers and business leaders.

Sharing Protiviti's insight on business challenges, Hirth noted that succession challenges and the ability to attract and retain top talent, maximizing opportunities through organic growth, ensuring privacy and information security protection as some of the other challenges businesses may face.

Top 10 - Major Challenges facing Businesses in 2013

Regulatory changes and increased regulatory scrutiny

Economic conditions

Global political and economic volatility

Succession challenges and retaining top talent

Maximizing opportunities through organic growth

Cyber risks - ensuring privacy and information security protection

Adaptation of business structure

Keeping up with competitors

Unforeseen crisis management event

Utilizing 'Big Data'

Hirth provided interesting observations and ideas for consideration by board/audit committee members and management. He mentioned that while 2012 saw some slow improvement in the overall economy and business conditions, significant uncertainty still exists ahead.

However, amidst all the uncertainty lie opportunities for organizations to focus and exploit these conditions and use Governance, Risk and Compliance as weapons to combat against uncertain business situations.

Summarizing Protiviti recommendations and guidelines Hirth said that the Audit Committee Agenda for the year ahead should include at a minimum compliance infrastructure, mandatory auditor rotation and ensuring that the company's risk profile is up-to-date. He further mentioned that companies should closely monitor changes in regulations and implement changes in their business systems accordingly and board/committee agendas should be responsive and regularly upgraded to meet the unique needs of the organization.

-Ends-

About Protiviti
Protiviti (www.protiviti.com) is a global consulting firm that helps companies solve problems in finance, operations, technology, litigation, governance, risk, compliance and internal controls. Through its network of more than 70 offices in over 23 countries, Protiviti has served more than 35 percent of FORTUNE® 1000 and Global 500 companies. The firm also works with smaller, growing companies, including those looking to go public, as well as with government agencies.

Protiviti is a wholly owned subsidiary of Robert Half International (NYSE: RHI). Founded in 1948, Robert Half International is a member of the S&P 500 index.

For further information please contact:
Varuna Khullar /Amna Al Jarery
Corporate Communications /Country Manager
Protiviti Member Firm (Middle East Region) /Action Global Communications                                                      
Tel: +965 90976064/Tel: +965 9782496
varuna.khullar@protivitiglobal.com.kw /amna.j@actionprgroup.com

© Press Release 2013