Appointment Blogs | Compliance Week – Page 110
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What is high risk for your brand?
The fraudulent certification scandal that rocked Japanese steel manufacturer Kobe Steel serves as a warning to other companies: Make sure your front-line employees feel like they can speak up in the face of fraudulent behavior.
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Germans arrest VW executive
Will the recent arrest of VW former Chief Engineer Wolfgang Harz mean more prosecutions of those involved in the worldwide cover-up of the emissions testing scandal? Tom Fox has more.
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Is a country sweep coming to South Africa?
The recent corruption scandal to focus on McKinsey & Co., SAP, and KMPG in South Africa has driven home a truism that many in the compliance space have known for some time: South Africa is one of the most corrupt countries on earth. For U.S. and U.K. companies doing business ...
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AICPA delivers more revenue recognition working drafts
In the ongoing movement to new methods for recognizing revenue in financial statements, the AICPA has issued yet more new guidance for companies to consider.
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House bills target fiduciary rule, CFPB oversight, privacy notices, more
The Financial Services Committee has advanced a slate of 22 bills. Among the topics: data protections for the SEC's Consolidated Audit Trail, the thresholds for SIFI designations, supporting emerging growth companies, and killing the Department of Labor’s fiduciary duty rule.
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Former Keppel Shipyard officer faces 395 counts of corruption
Singapore’s Corrupt Practices Investigation Bureau charged a former senior procurement officer of Keppel Shipyard, a wholly-owned subsidiary of Keppel Offshore & Marine, with 395 counts of corruption.
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Acting comptroller thwarts CFPB, even as Dems question his authority
As the Office of the Comptroller of the Currency increasingly injects itself as a regulatory buffer between banks, financial services firms and the CFPB, Senate Democrats are questioning the legality and authority of Acting Comptroller Keith Noreika.
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EPA head demands an end to ‘regulation through litigation’
EPA Administrator Scott Pruitt has issued an agency-wide directive and memorandum intended to end “sue and settle” practices at the agency for consent decrees and settlement agreements.
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Legislation would let companies cyber-attack their hackers
The Active Cyber Defense Certainty Act is bipartisan legislation that would allow companies to deploy “defensive measures that exceed the boundaries of one’s network in order to monitor, identify, and stop attackers.”
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Senate committee schedules hearing for SEC nominees
On Oct. 24, the Senate Banking Committee will hold a hearing on President Trump’s nominations of Hester Peirce, a Republican, and Robert Jackson, a Democrat, to be SEC Commissioners.
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SEC charges Rio Tinto with fraud
The Securities and Exchange Commission this week charged mining company Rio Tinto and two former top executives with fraud for inflating the value of coal assets acquired for $3.7 billion and sold a few years later for $50 million.
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Car bomb kills ‘Panama Papers’ journalist
Daphne Caruana Galizia, a relentless advocate for exposing the truth about corruption on the island of Malta and who helped expose its ties to offshore tax havens linked to the Panama Papers, has been killed in a car bombing.
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Opening the lid on the hidden world of beneficial ownership
The world of beneficial ownership is seeing a push toward greater transparency that comes on the heels of high-profile corruption scandals at FIFA and Petrobras.
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Transparency International U.K. launches anti-bribery portal
Transparency International U.K. has launched a new online tool that provides up-to-date and in-depth guidance for businesses in understanding and tackling bribery.
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Shell executives charged in bribery scheme
The Milan Public Prosecutor’s Office has charged several senior Royal Dutch Shell executives in Italy for their role in a widespread bribery scheme to acquire oil exploration rights in Nigeria.
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Guilty plea in PDVSA FCPA case
A partial owner of several energy companies pleaded guilty this week to foreign bribery charges for his role in a scheme to corruptly secure contracts from Venezuela’s state-owned and state-controlled energy company, Petroleos de Venezuela S.A. (PDVSA).
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NCAA to form special commission
Following a federal investigation into fraud in college basketball, the NCAA announced that it is making ‘substantive changes’ to the way it operates, forming a Commission on College Basketball.
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Samsung executive resigns amid ‘unprecedented crisis’
Samsung Electronics Vice Chairman Oh-Hyun Kwon will not seek re-election as a member and chairman of the board when his term ends in March 2018. Kwon will also resign as the chief executive officer of Samsung Display.
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‘Several countries’ probed in World Cup bribery scheme
The Office of the Attorney General of Switzerland has opened a criminal proceeding against Jérôme Valcke, the former Secretary General of FIFA, and beIN Media Group Chief Executive Officer Nasser Al-Khelaifi for bribery allegations surrounding the award of World Cup media rights.
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Ideagen releases new version of Pentana Disclose
Ideagen—developers of quality, safety, audit, risk, and performance management software—has released the latest version of its financial disclosure checklist software, Pentana Disclose.