Articles | Compliance Week – Page 183
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BDO warns about state of ‘broken’ U.K. audit market
The head of one of the United Kingdom’s biggest accountancy firms has said the audit market is “clearly broken” and “trust needs to be restored,” though how that should be done is “not clear.”
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Report: Nissan stopped audit chief’s plan to expand misconduct probe
A high-ranking Nissan executive reportedly quashed a recommendation to establish a special committee to determine whether any additional disciplinary actions were necessary surrounding allegations of financial misconduct.
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Q&A: Shaping culture for the greater good at AstraZeneca
In this one-on-one, we caught up with Louise Vamvoukaki, director of sustainability education and engagement at AstraZeneca, who shared how the company overhauled its organizational culture through design of its Code of Ethics.
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Osano launches data privacy platform
Osano, a B-Corporation focused on data privacy transparency, announced the availability of its SaaS-based data privacy platform.
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AdvisorAssist upgrades compliance engine
AdvisorAssist, a regulatory compliance and business risk management consulting firm, announced the rollout of its updated compliance intelligence engine, AdvisorCloud 360.
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OCC eases stress-testing requirements for banks
New OCC requirements mean national banks and federal savings associations with assets under $250 billion will no longer have to self-administer stress tests annually.
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Former KPMG co-lead pleads guilty in inspections scandal
Former KPMG partner David Britt pleaded guilty to one count of conspiracy to commit wire fraud as the fallout from the cheating scandal that has plagued the firm for nearly two years appears to be nearing its conclusion.
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Upcoming regulatory events: SEC, DOJ, FASB, and more
Fall is a busy time for regulators across the compliance landscape. Take note of upcoming events, plus some early conference registration news.
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DOJ contests Eni’s statement concerning corruption case
Calling Eni’s statement “misleading,” the Department of Justice wants to make it clear its corruption inquiry into the Italian oil company was not closed for lack of evidence.
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Survey: Compliance execs like AI, but not confident they can harness it
Compliance and procurement leaders see the value in using artificial intelligence, but far too many aren’t confident they have the right skills in place to use it, according to a new report from Dun & Bradstreet.
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Bill requiring shell companies to disclose ownership introduced in Senate
Aimed at fighting money laundering, newly proposed legislation looks to mandate full transparency from shell companies on ownership and also fosters greater communication between financial institutions and law enforcement agencies.
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Blockchain company to pay $24M for unregistered ICO
Block.one has agreed to settle charges with the SEC and pay a $24 million civil penalty for conducting an unregistered initial coin offering of digital tokens that raised the equivalent of several billion dollars.
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Survey: Companies believe they've underinvested in TPRM
A new survey published by Deloitte highlights the latest trends—both opportunities and challenges—in companies’ journey toward a more mature extended enterprise risk management program, one in which third-party risk management is integrated across the firm and led from the top.
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CFPB adds new executives
The Consumer Financial Protection Bureau recently announced several new additions to its executive team, including the appointment of Bryan Schneider as associate director in the Supervision, Enforcement and Fair Lending Division.
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Oversight Systems expands audit and risk management offering
Employee spend management platform Oversight Systems announced the launch of its new General Ledger module.
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Continuity acquires TraceRisk
Continuity, a compliance management systems provider for financial services organizations, announced the acquisition of cloud-based enterprise risk management solutions firm TraceRisk.
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Whistleblower awarded $7M for ‘limited assistance’
A whistleblower who provided the Commodity Futures Trading Commission with “limited assistance” about misconduct that prompted an investigation was still awarded $7 million, the agency announced.
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Study: Small firms more likely to report ineffective ICFR
A recent study from Audit Analytics that analyzed SOX 404 disclosures in the past 15 years reveals some interesting trends surrounding large and small companies’ internal control over financial reporting.
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FRC investigates EY over Thomas Cook’s books
The U.K. Financial Reporting Council is investigating EY over the audit work it carried out at travel firm Thomas Cook, which recently declared bankruptcy.
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SEC modernizes rules on exchange-traded funds
Despite an effective date about a year out, regulated entities still need to make some decisions now about policies and procedures if they are relying on a new regulation applying to exchange-traded funds.