Appointment Blogs | Compliance Week – Page 117
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PCAOB flags increased number of audits at Crowe
After several years of steadily improving results, Crowe Horwath saw an increase in adverse findings in its latest PCAOB inspection report.
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Board members wary of CAM disclosures in audit reports
Half of public company board members say critical audit matters will not make audit reports more useful to investors, but instead will make their jobs more difficult.
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Treasury in ‘hand-to-hand financial combat’ with North Korea
Current and future sanctions efforts by the Treasury Department to financially strike back against North Korean aggression were dissected by Assistant Treasury Secretary Marshall Billingslea during a recent House committee hearing.
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New York AG launches formal investigation into Equifax breach
As part of a formal investigation into the massive breach involving credit-reporting agency Equifax, which has effected about 143 million U.S. consumers, New York Attorney General Eric Schneiderman sent a letter to Equifax seeking additional information about the breach.
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Aeterna Zentaris chief accounting officer departs
Aeterna Zentaris, a Canada-based specialty biopharmaceutical company, announced the departure of the Geneviéve Lemaire as vice president, finance and chief accounting officer, effective on or before Sept. 30, 2017.
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Target chief risk and compliance officer to depart
Retail giant Target said that Jacqueline Rice, chief risk and compliance officer, will be leaving the company in September. Rather than replace her role, Target said that Chief Legal Officer Don Liu will inherit her team.
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Zurich appoints new group chief risk officer
Zurich Insurance Group this month announced that Alison Martin will join the company on Oct. 1 and assume the role of group chief risk officer in January 2018. The appointment is subject to regulatory approval. She will succeed Cecilia Reyes, Zurich’s current group chief risk officer, who will retire from ...
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What new headaches may befall FIFA?
A new and potentially very damaging turn has taken place in the ongoing FIFA corruption scandal. Miguel Maduro, former chairman of FIFA’s governance committee, said that if asked, he would provide specific accusations of top FIFA officials pressuring him to ignore regulations.
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Uber and “Hell”
The hits keep coming to beleaguered transportation firm Uber; reports have surfaced that an internal company program called “Hell” utilized software that allowed it to illegally interfere with Lyft, an Uber competitor.
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Remediation and the Equifax data breach
Equifax has a long road to travel to get past the recent data breach that saw 143 million people’s personal information exposed to theft.The company will need to engage in significant remedial action, notes The Man From FCPA, if they hope to survive the upcoming fallout.
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FASB proposes updated, new taxonomies for 2018
FASB has completed its annual update to the GAAP taxonomy and has added a new taxonomy for companies to consider addressing international standards.
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ICOs, Santa, and the DEA
Title: ICOs, Santa, and the DEAIn case you missed it this week, cryptocurrencies have a historic week, the military continues to ignore sexual misconduct allegations, and physically dragging passengers off of an airline isn’t considered a civil rights violation, after all.
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Cyber-attack exposes consumer data at Equifax
The consumer credit reporting agency Equifax has announced a cyber-security incident that may have exposed the data of 143 million U.S. consumers. Credit card numbers for approximately 209,000 U.S. consumers were accessed.
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State Street to pay $35M for disclosure failures
State Street today agreed to pay more than $35 million to settle charges that it fraudulently charged secret markups for transition management services and separately omitted material information about the operation of its platform for trading U.S. Treasury securities.
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New scandals; new lexicon for unethical conduct
In the FCPA world, the most dreaded question during an enforcement action is “where else?”—as in, where else are you engaging in bribery and corruption? After Wells Fargo, the lexicon may well expand to “what else?”—as in what other conduct is your company engaging in that is unethical?
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Going weird in international bribery and corruption
As Hunter S. Thompson once said, “When the going gets weird, the weird turn pro.” Such is the case of BSG Resources after accusations surfaced that the company had paid bribes to obtain a huge mining concession in Guinea—charges it vehemently denies.
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SEC’s Piwowar cleared of overstepping bounds with rule re-proposals
SEC Commissioner Michael Piwowar, while serving as acting chairman, acted appropriately when moving forward with rule re-proposals, says Inspector General Carl Hoecker in a response to complaints by Senate Democrats.
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Business leaders fight to preserve DACA, protect ‘Dreamers’
Business leaders, including prominent CEOs, are demanding fast action by Congress to protect immigrant employees covered by an Obama era executive order that was rescinded by the Trump Administration this week.
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Department of Education, CFPB in turf war over student loans
The Department of Education has killed an information-sharing agreement with the CFPB that was intended to protect student loan borrowers. It called the Bureau “an overreaching and unaccountable agency.”
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IAA: Preserve advisers’ fiduciary standard, impose same on broker-dealers
Bucking the trend established by vocal critics of the rule, the Investment Adviser Association wants the SEC to preserve the fiduciary duty for investment advisers and adopt an equally stringent standard for broker-dealers.