Appointment Blogs | Compliance Week – Page 171
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'You don't want to mess with Mary Jo,' baseball edition
When President Obama introduced Mary Jo White to be his pick to be the new SEC Chair, he famously warned that "You don't want to mess with Mary Jo!" Everyone logically assumed that he was referring to would-be securities fraudsters not wanting to mess with Mary Jo, but perhaps he ...
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SFO brings charges in Tesco accounting scandal
Tom Fox examines the Serious Fraud Office’s recent indictments against three individuals from the October 2014 Tesco scandal in which the British grocery chain overstated earnings by fraudulently accounting certain revenues received back from suppliers.
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Former CFO of American Realty Capital Partners charged with accounting fraud
The Department of Justice and the Federal Bureau of Investigation recently announced the unsealing of an indictment in federal court charging Brian Block, former chief financial officer of American Realty Capital Partners (ARCP), with fraudulently inflating a key metric used to evaluate ARCP’s financial performance. Jaclyn Jaeger reports.
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Stuart Delery joins Gibson Dunn
Stuart Delery, former Acting Associate Attorney General of the U.S. Department of Justice—the third highest ranking position—will join international law firm Gibson, Dunn & Crutcher as a partner.
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Timken appoints chief accounting officer
The Timken Company, a global manufacturer of bearings, has appointed Shelly Chadwick as chief accounting officer, effective Nov. 1. Her appointment follows the planned retirement of J. Ted Mihaila, senior vice president and corporate controller, on Dec. 1 after more than 41 years of service with the company.
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Visibility into T&E fraud with Insights On Demand
Oversight Systems, an operational expense analysis company, has released the newest version of Insights On Demand with scalable capability to reduce fraud, waste, and abuse related to corporate travel and expense transactions.
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SAP enhances tools for IFRS compliance
SAP has released the latest enhancements to its revenue accounting platform designed to help CFOs and chief accounting officers master the new IFRS 15/ASC 606 standards. These new accounting standards apply to all entities — public, private, and not-for-profit — that have contracts with customers and will supersede virtually all ...
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Senators will grill Wells Fargo CEO about illegal accounts
Wells Fargo executives will testify before Congress this week amid revelations that employees opened unauthorized deposit and credit card accounts in their pursuit of sales targets and bonuses. Joe Mont reports.
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CFA Institute: Use data structuring, like XBRL, end to end
Analysts are calling on public companies and regulators to reduce error and improve utility by using structured data like XBRL throughout financial reporting. Tammy Whitehouse reports.
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A culture of sexual harassment
Columnist Richard Steinberg looks at the sexual harassment suit against Fox News CEO Roger Ailes and its impact on corporate culture, asking, “What to do when the CEO is also chairman?” That’s why board independence is so important, says Steinberg.
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Internal controls: trust but verify
Tom Fox looks at the recent scandal at Wells Fargo leading to the Consumer Finance Protection Board’s $185 fine and the firing of more than 5,000 employees after basically telling them: “It’s OK to break the law, as long as we make money.”
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FIFA opens formal proceeding against Sepp Blatter
The ethics committee of the Fédération Internationale de Football Association, the international governing body of professional soccer, has opened formal proceedings against Sepp Blatter, the disgraced former head of FIFA, for engaging in bribery and corruption. Jaclyn Jaeger reports.
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SEC charges two firms with compliance failures in wrap fee programs
Two investment advisory firm—Raymond James & Associates and Robert W. Baird & Co.—settled charges with the SEC related to compliance failures within their wrap fee programs. Jaclyn Jaeger has more.
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Innophos Holdings appoints corporate secretary
Innophos Holdings, an international producer of performance-critical and nutritional specialty ingredients, has appointed Joshua Horenstein as chief legal officer and corporate secretary. In this position, he will serve as the company's general counsel and lead legal expert to advise and provide strategic legal direction and execution for the global organization.
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Tipalti adds accounts payable tax compliance support for Argentina and Brazil suppliers
Tipalti, a global supplier of payments automation, has extended its accounts payable tax compliance capabilities to help companies collect and validate tax IDs from their suppliers in Argentina and Brazil. Businesses engaging with suppliers and partners in those countries can now ensure tax compliance by recording tax information for those ...
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FTI Technology launches new investigation features within Radiance
FTI Consulting, a global business advisory firm, announced the latest version of its Radiance vsual analytics software platform. With enhanced visualization and similarity search features, Radiance enables organizations to quickly analyze Big Data in support of investigations or pre-discovery fact-finding.
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Alpine Consulting forges alliance with Pitney Bowes
Pitney Bowes, a global technology company, recently forged a new alliance with Alpine Consulting, a firm that provides risk, threat, fraud, and compliance technology solutions.
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FASB proposes new approach to hedge accounting
After finishing rules on the recognition and measurement of financial instruments and on loan losses, FASB is turning its attention back to hedge accounting with a new proposal. Tammy Whitehouse reports.
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Podcast: The new era of regulatory enforcement
Globalization, terrorist attacks, the digital world, and aftermath of the great recession are all shaping a complex business landscape with unprecedented risks. In our latest podcast, we talk to KPMG’s Timothy Hedley and Richard Girgenti about these challenges. Joe Mont has more.
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CFTC wants to beef up whistleblower incentives
The Commodity Futures Trading Commission is looking to beef up its enforcement efforts with proposed amendments to its whistleblower rules. The move comes, says Joe Mont, as the SEC’s whistleblower bounty program recently surpassed the $100 million mark.