Appointment Blogs | Compliance Week – Page 297
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IT Experts Offer Updated Guidance on IT Controls
Image: Companies struggling with information technology controls may gain tips from ISACA’s new guidance on scoping and assessment ideas for IT-related aspects of the COSO framework. “This latest guide will help professionals align with these changes in the industry,” said Ken Vander Wal, former ISACA president.
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DoJ Creating Dedicated Cybersecurity Unit Within Criminal Division
Image: Assistant Attorney General Leslie Caldwell has announced that the Justice Department is creating a cyber-security unit within the Criminal Division. Prosecutors will serve as a “central hub for expert advice and legal guidance regarding the criminal electronic surveillance statutes for both U.S. and international law enforcement conducting complex cyber-investigations,” ...
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CAQ Reminds Auditors of Hot-Button Audit Issues
Image: A new Center for Audit Quality alert highlights issues that auditors will need to pay special attention to in the year-end review, such as revenue recognition, related-party transactions, and more. “This alert summarizes potential areas of risk and can be a useful resource for our auditing firm members as ...
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SEC Sides With Whole Foods in Proxy Access Battle
Image: The SEC has sided with Whole Foods in a closely watched effort to submit its own proxy access proposal at the annual meeting. The move supersedes a proposal sought by activist shareholder Jim McRitchie, who wanted to give proxy access to any group of shareholders that collectively owns at ...
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SEC Disclosure Simplification Bill Approved in House
Image: A bill intended to help public companies streamline their disclosures has been unanimously approved by the House of Representatives. The Disclosure Modernization and Simplification Act, sponsored by Rep. Scott Garrett (R-N.J.), allows issuers to submit a summary page on annual Form 10-K filings. It also gives the SEC a ...
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Denmark Comes Out on Top in TI’s Anti-Corruption Rankings
Image: Title: UgazDec. 3—Denmark took the top honor in the watchdog group Transparency International’s annual corruption perceptions index, ranking the cleanest of the 176 global economies reviewed. Denmark also tied for first place in last year’s index. Overall, more than two-thirds of the countries fell below a score of 50, ...
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2014 Corruption Perceptions Index Lists Most Corrupt Countries
Turkey, Angola, and China are just a few countries that fared worst than last year in Transparency International’s 2014 Corruption Perceptions Index released today. The United States placed 17th, up two spots from its 2013 ranking. The last three years mark an improvement from the 2011 TI index, when the ...
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BDO USA, Crowe Horwath Get Varied PCAOB Inspection Results
The Public Company Accounting Oversight Board published inspection findings for two major firms, giving them much different marks for their 2013 audit work. At BDO USA, inspectors found deficiencies in 15 of 23 audit files, a 55 percent increase in problems from 2012. At Crowe Horwath inspectors checked only 13 ...
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Evariant Appoints Chief Compliance Officer
Evariant, a digital marketing solutions provider for healthcare companies, has named Tammy Preisner as chief compliance officer. Details inside.
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Former Federal Reserve Deputy Director Joins KPMG
Deborah Parker Bailey, former Federal Reserve deputy director, has joined KPMG’s New York office as a managing director in its regulatory risk service network. Bailey’s arrival adds to the firm’s regulatory risk team that provides strategic insight to KPMG’s financial services clients on regulations affecting their business and helps to ...
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Baylor University Names Chief Compliance Officer
Baylor University has appointed Juan Alejandro as vice president of governance and risk and chief compliance officer, effective immediately. He had been serving in an interim capacity since July. Details inside.
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U.K. Fraud Office Gets Mixed Review Following Inspection
Image: Title: FullerDec. 4—The U.K.’s Serious Fraud Office has made some progress in fixing issues with staffing training, resource levels, and how it investigates complex cases, but more work needs to be done, according to a report from Her Majesty’s Crown Prosecution Service Inspectorate. “There has been genuine commitment from ...
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OCC’s Curry Details Regulatory Relief for Small Banks
Image: In a recent speech, Comptroller of the Currency Thomas Curry floated some regulatory reforms that could make compliance easier for small- and medium-sized banks, including a new examination cycle for healthy banks. “It’s important that they, like other businesses, have the flexibility to adapt to changing economic and ...
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Audit Committees Offer Details on Auditor Independence
Image: A Center for Audit Quality study shows a significant majority of all S&P Composite 1,500 companies are talking to investors about auditor independence, but fewer address how the auditor is appointed. “We think it is important to provide a baseline for audit committee disclosures, with the intent of tracking ...
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BNY Mellon Elects Investor Activist Ed Garden to Board of Directors
BNY Mellon, an investment management and investment services company, has elected Ed Garden, Chief Investment Officer and a founding partner of Trian Fund Management, to its board of directors, effective immediately. He also will join the human resources and compensation committee, and the risk committee of the board. Details inside.
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United Rentals Appoints Principal Accounting Officer
United Rentals has appointed Jessica Graziano as controller and principal accounting officer. She joins the equipment rental company from Revlon, where she most recently served as chief accounting officer and corporate controller. Details inside.
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Toyota Motor Credit Probed for Lending Discrimination
The Department of Justice and the Consumer Financial Protection Bureau last month launched an investigation against Toyota Motor Credit over allegations of auto-lending discrimination practices, Toyota announced in a recent Form 8-K with the Securities and Exchange Commission. According to the agencies, “such practices resulted in discriminatory pricing of loans ...
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Some Predictions for the Coming Year in Corporate Governance
As 2014 enters its final month and the coming year looms just around the corner, it’s time for those lists of predictions of what 2015 will bring. Inside, columnist Richard Steinberg takes a look into his crystal ball for what developments will be shaping corporate governance in the coming year. ...
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CFTC Dives Back into Position Limits, Reopens Comment Period
Image: Dec. 2—The Commodity Futures Trading Commission is once again girding for battle over a controversial plan to impose position limits on futures contracts. On Dec. 3, notice was published in the Federal Register to announce the reopening of a public comment period on rulemaking that was put on hold ...
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OECD Report: Foreign Bribery Enforcement on the Decline
A report from the Organization for Economic Co-operation and Development reveals that the number of sanctions against companies and individuals for the bribery of foreign government officials appears to be declining. According to the report, 42 foreign bribery cases concluded last year, significantly lower than the 78 foreign bribery cases ...