Articles | Compliance Week – Page 219
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Borden Dairy appoints chief accounting officer
Borden, a U.S. dairy processor and distributor, has named Candace Palmarozzi as vice president corporate controller and chief accounting officer, effective immediately.
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Welbilt appoints chief accounting officer
Welbilt, a global supplier of commercial food-service equipment, has promoted Jamie Palm to chief accounting officer, in addition to her current role as vice president corporate controller.
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New Duff & Phelps director to aid expansion
Finance services firm Duff & Phelps announced the hiring of Adam August as a director in the Compliance and Regulatory Consulting practice. August will lead the expansion of the CRC offering to the Texas area.
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SEC considers reporting changes for BDCs, closed-end funds
The SEC is pitching rule amendments to improve access to capital and investor communications by business development companies that typically invest in small and developing companies and registered closed-end funds.
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SEC adopts amendments, MD&A changes to simplify disclosures
The SEC has adopted amendments to Regulation S-K disclosure requirements and MD&A filings that are intended to improve the readability of company disclosures and to discourage repetition and immaterial information.
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Clarity, comparability still to come under new revenue rules
As companies wrap up their first year under the new revenue recognition standard, evidence of the learning curve and challenges with comparability are abundant.
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FTC clarifies expectations for post-settlement compliance reports
The Federal Trade Commission, increasingly faced with incomplete information and blown deadlines, is laying down the law when it comes to post-settlement compliance reports.
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Brextension, but only if deal approved
After two rejections, U.K. Prime Minister Theresa May has sent a letter to European Council President Donald Tusk to ask for an extension on Brexit.
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Regulators’ top risk cop assailed by reform-bent critics
The Financial Stability Oversight Council was created to expose and mitigate systemic risks to the U.S. financial system. Its critics are winning the long-simmering battle to redefine its efforts.
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PwC reduces damages in Colonial Bank failure
Appealing a court ruling, PwC reached a $335 million settlement with the FDIC over professional negligence claims in the failure of Colonial Bank.
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Facebook settles housing discrimination suit, ends ad ‘exclusions’
Facebook will pay $5 million and implement a series of anti-discrimination policies to settle a lawsuit brought against it by national fair-housing advocates.
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Charts: Exclusive analysis of audit inspection reports
See how the big accounting firms compare in terms of audit deficiency rates for 2009 through 2016 and internal control deficiencies for 2016 based on PCAOB inspection report results.
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Despite decades of scrutiny, auditor independence remains a challenge
Even with clear-cut expectations, audit firms still find new and unique ways to run afoul of the SEC’s independence rules. Among the culprits: the money-making potential of non-audit services.
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Q&A: Audit committee outlook from a committee chair and former EY auditor
Jan Babiak, a current audit committee chairman formerly of EY, offers her perspective on the roles ans responsibilities of the audit committee.
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U.K. narrow-minded to think breaking up Big Four a good idea
Big Four accounting expert James Peterson discusses ways in which the United Kingdom may dismantle the Big Four, the possible consequences of each of the proposals, and which he thinks is the better solution.
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The benefits and struggles of marrying audit with new tech
The never-ending quest to improve audit quality has firms and the audit committees of their corporate clients eyeing how to best deploy new technologies.
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How audit firms are polishing their images
Audit deficiencies are just part of the picture when it comes to the reputational damage suffered by nearly every big firm. Jaclyn Jaeger looks at how the big audit firms are tackling bad marks from the PCAOB.
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Quality reports from major audit firms
In recent years, major audit firms have begun producing voluntary quality reports. We offer a sampling of findings from six of the biggest firms to accompany our auditing special report.
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Survey: Companies lag behind with CCPA compliance
With a January 2020 deadline just 10 months away, only 14 percent of companies report they are compliant with the California Consumer Privacy Act. Nearly half have not yet started implementation, says a new survey from TrustArc.
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EC fines Google €1.49B over online advertising abuses
The European Commission slapped Google with a €1.49 billion (U.S. $1.69 billion) fine for breaching competition rules—the third penalty in three successive years for the internet giant.