All Internal Controls articles – Page 22
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ArticleCompliance Week presents: ‘A Tale of Two Storms’
Our first-ever case study is the story of Carnival’s quest for compliance redemption, set in the context of not only new leadership and a court-appointed monitorship, but in the midst of a global pandemic.
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PremiumChapter 2: Carnival put to the test as early COVID-19 hotspot
As more and more Carnival ships become hotbeds of infection and the company faces harsh criticism, CEO Arnold Donald trumpets the company’s unwavering focus on compliance.
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PremiumChapter 1: Amid compliance overhaul, COVID-19 hits hard
It’s early 2020, and the world’s largest cruise line operator is about to confront an immutable collision of two storms: its court-mandated environmental compliance plan, more than 2 years in progress, and the imminent coronavirus pandemic.
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ArticleCredit to JPMorgan Chase in this week’s banking-themed naughty/nice list
JPMorgan Chase, Danske Bank, Deutsche Bank, and Bank of America all either “Nailed It” or “Failed It” this week.
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Article10 reasons why you should be a compliance officer
Jonathan Bowdler of the International Compliance Association shares his list of factors that make compliance an appealing profession today.
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ArticleFINRA sanctions Wells Fargo $2M over variable annuity switches
Two Wells Fargo subsidiaries were ordered to pay more than $2 million due to supervisory failures regarding the switching of customers’ variable annuities, the Financial Industry Regulatory Authority announced.
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Article‘Tale of Two Storms’: Carnival compliance case study to launch Sept. 14
CW is excited to announce the upcoming publication of its first-ever case study, a deep dive into the history of environmental transgressions at Carnival, its path back to compliance under new leadership, and its shift to crisis management mode when COVID-19 hit.
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ArticleCredit social media giants for prepping for election chaos
Silicon Valley’s social media heavyweights deserve a nod for “war-gaming” potential misinformation scenarios in advance of November’s elections, while McDonald’s again finds itself on our “Not Lovin’ It” list.
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FBI reforms compliance procedures, to establish new audit office
Compliance reforms set to take place at the FBI include enhanced training and oversight mechanisms and a newly created office to carry out “rigorous and robust auditing.”
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ArticleQ&A with Kara Brockmeyer: How pandemic has impacted third-party risk
In advance of her keynote at Compliance Week’s upcoming TPRM virtual event (Sept. 17-18), former SEC official Kara Brockmeyer discussed with CW the heightened risk third parties have during a pandemic and what companies can do about it.
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ArticleCredit to KPMG for shining a light on fraud at Wirecard
A scathing report on the extensive fraud at German payment giant Wirecard had a compliance silver lining: KPMG’s by-the-books, transparent approach to a special audit helped bring that fraud to light.
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ArticleSurvey: Weak leadership contributes to employee pressure to bend rules
A new global business ethics survey released by the Ethics & Compliance Initiative seeks to explain what factors contribute to employee pressure to compromise ethical policies or regulations and how to reduce that pressure.
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ArticleJury’s out on Wells Fargo compliance moves; Twitter #fail for Irish DPC
While it’s not yet clear whether Wells Fargo’s compliance moves (including the loss of its CCO) will pay off, we’re much more certain about the Irish Data Protection Commission’s stance on a potential Twitter fine.
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ArticleScotiabank to pay $127.4M for commodities scheme, compliance failures
The Bank of Nova Scotia will pay $127.4 million in total penalties in resolutions with the Justice Department and the CFTC for its role in a massive price-manipulation scheme in the precious metals futures contracts markets.
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ArticleWells Fargo CCO Roemer to depart amid new risk hirings
Wells Fargo announced Chief Compliance Officer Mike Roemer will depart two years after taking on the daunting task of transforming the troubled bank’s compliance and risk management efforts. Paula Dominick will succeed him as CCO.
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ArticleNew survey highlights internal audit’s vital role in fraud risk management
The more internal audit plays a key role in the strategic management of fraud, the more effective and robust organizations’ fraud risk management processes seem to be, according to the results of a recent Kroll/IIA survey.
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ArticleNRA shot itself in foot with poor compliance commitment
The New York Attorney General’s lawsuit to dissolve the National Rifle Association might not play out as intended, but it nevertheless exposes a number of systemic compliance flaws at the organization that appear to still need to be addressed.
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ArticleHaving difficult conversations is key to modern compliance
Now more than ever, difficult conversations are necessary and increasingly expected of compliance professionals. Financial crime expert Martin Woods has some ideas on how to make them less painful.
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ArticleQ&A: IIA president Chambers on Three Lines update, COVID-19, more
In the wake of drastic updates to the “Three Lines Model” for managing risk, IIA President and CEO Richard Chambers catches up with Compliance Week to discuss the changes, how COVID-19 has impacted the internal audit profession, and more.
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ArticleMcDonald’s whistleblower leads to lawsuit against fired CEO
An anonymous whistleblower’s complaint alleging sexual misconduct by fired McDonald’s CEO Steve Easterbrook prompted the company to file a lawsuit attempting to claw back some of the $41 million severance package it paid upon his ouster.