Appointment Blogs | Compliance Week – Page 236
-
Blog
New U.S.-China Corruption Cooperation Initiative
Image: An interesting development reported this week: The United States and China have agreed to cooperate on the seizure of assets obtained through corruption and on the deportations of Chinese nationals from the United States who engaged in bribery and corruption in China and later fled to America for sanctuary. ...
-
Blog
PCAOB Lays Bare Its 2015 Inspection Strategy
Image: The PCAOB has published a staff inspection brief mandating that inspectors scrutinize the audit of internal control over financial reporting, the auditor assessment of (and response to) risks of material misstatements, and the audit of accounting estimates. “We hope that audit firms and other stakeholders find this information about ...
-
Blog
How Do Small Groups Produce So Much 'Anti-Mary Jo White' Noise?
In the past, it took a lot of dissatisfied people to make a lot of noise. We continue to learn that in the social media era, a very small number of dissatisfied people with the right tools and tactics can generate just as much noise!
-
Blog
FASB Proposes More Changes to Revenue Standard
FASB is asking for feedback by Nov. 16 on its planned fixes to the revenue recognition standard to address implementation challenges around collectibility, taxes, non-cash consideration, contract modifications, and other technical issues. The board says its proposed amendments should reduce the degree of judgment necessary to apply the new revenue ...
-
Blog
Researchers Defend Big Money CEO Severance Pay
A surefire way for a company to garner bad press and anger investors is to reward an outgoing, terminated CEO with a hefty payout despite poor firm performance. A recent study published in The Accounting Review, a publication of the American Accounting Association, puts a contrarian spin on those controversies ...
-
Blog
The Curious Incident of the 'Life Coach' and the Press Release
The SEC loves to craft press release headlines that feature defendants' interesting or high-profile jobs, but it missed a golden opportunity to do just that in its announcement of an insider trading case last week.
-
Blog
EIOPA Requires ‘Robust’ Risk Management Framework
Image: The European Insurance and Occupational Pensions Authority (EIOPA) is backing the creation of a separate asset class for high-quality infrastructure investments under Solvency II. The EIOPA also stressed that insurers should have the proper due diligence and risk management procedures in place to tackle the complexities associated with this ...
-
Blog
Third Parties Face Penalties Over ‘Deliberate Tax Evasion’ Scheme
An investigation into third parties by the Revenue Commissioners of Ireland revealed that some companies were deliberately dodging tax laws by submitting incomplete and doctored disclosures to avoid penalties. According to a report by the comptroller and auditor general, tighter regulations are necessary to help crack down on tax evasion ...
-
Blog
More Volcker Rule Questions Answered
The Securities and Exchange Commission has added another round of supplemental guidance to its growing list of “frequently asked questions” regarding Volcker Rule compliance. The latest updates, released on Sept. 25, address CEO attestation and compliance program requirements for market-making activities. More inside.
-
Blog
FASB Simplifies Business Combinations Accounting
FASB has approved a change that simplifies accounting for business combinations, so companies will no longer be required to make retrospective adjustments to historical data as if the facts of the acquired unit had been known from the date of the acquisition. Instead, the acquiring company will recognize adjustments to ...
-
Blog
Credit Suisse Securities to Pay $4.25M for ‘Blue Sheet’ Compliance Lapses
Credit Suisse Securities yesterday reached a $4.25 million settlement with the Securities and Exchange Commission for submitting deficient information to the agency over a two-year period about trades done by its customers, commonly referred to as “blue sheet data.” “We will continue to hold broker-dealers who fail to comply with ...
-
Blog
Moves Against FIFA, VW: Sweating in the C-Suite?
Image: Talk in corporate compliance circles lately has been dominated by the United States and publication of the Yates Memo, where the Justice Department will be pushing for more prosecution of individuals. The real bite for compliance, however, might be happening in Europe, where regulators are moving against the chiefs ...
-
Blog
Titanium Transportation Group Appoints General Counsel
Titanium Transportation Group, an asset-based transportation and logistics company servicing Canada and the United States, has appointed Nia Karabatsos as general counsel. She joins Titanium from the business law group at Cassels Brock & Blackwell. More inside.
-
Blog
Ventas Names Chief Accounting Officer and Controller
Ventas, a real estate investement trust, has promoted Gregory Liebbe to senior vice president, chief accounting officer and controller, effective immediately. In his new position, Liebbe will lead all aspects of Ventas’s accounting functions, including internal and external financial reporting. More inside.
-
Blog
eOriginal Launches Real-Time Auditing and Compliance Solution for Financial Services Firms
eOriginal, a digital transaction management solutions provider, announced the launch of Datalytics, a new real-time asset-level auditing and compliance solution for the financial services industry. Datalytics provides analysis, monitoring, and reporting of origination data for faster audit request response and to prevent errors and re-submissions. More inside.
-
Blog
Equinix Selects ACL to Drive Operational Risk Management
ACL, an audit, compliance and risk management solutions provider, recently announced that Equinix has implemented ACL GRC and ACL Analytics across the organization to streamline communication and reporting between different departments. Several teams, including business assurance services, enterprise risk management, and compliance, will use the ACL platform to support a ...
-
Blog
SEC Launches Regulation S-X Review
The Securities and Exchange Commission is seeking public comment on the effectiveness of financial disclosure requirements in Regulation S-X. The request for comment, part of the Commission’s Disclosure Effectiveness Initiative, focuses on financial disclosures companies must file regarding acquired businesses and affiliated entities
-
Blog
Hitachi Settles FCPA Charges With SEC for $19 Million
Tokyo-based Hitachi reached a $19 million settlement with the Securities and Exchange Commission to resolve charges that it violated the Foreign Corrupt Practices Act by inaccurately recording improper payments to South Africa’s ruling political party in connection with contracts to build two multi-billion dollar power plants. More inside.
-
Blog
SEC Details How Government Shutdown May Affect Services
Anticipating a potential government shutdown, the Securities and Exchange Commission has published an “operational plan.” The EDGAR filing system would remain functional, but staff will be unable to process filings, provide interpretive advice, or issue no-action letters. New or pending registration statements and applications for exemptive relief will not be ...
-
Blog
Reminder: New FAR Thresholds for 2015
Reminder: revised acquisition-related dollar thresholds amending the Federal Acquisition Regulation for government contractors take effect Oct. 1. Government contractors should be aware of these adjustments since they affect a number of areas, including when contractors must report the executive compensation of their first-tier subcontracts, when they must report certified cost ...