All Internal Controls articles – Page 25
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ArticleAnalysis: Let Westpac’s missteps be a cautionary tale
By balking at original allegations, Westpac opened itself to infinitely more harm, writes financial crime expert Martin Woods.
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ArticleKPMG cites internal control weaknesses in BT Group review
KPMG, in conducting an independent review of BT Group, has expressed the telecommunications company “did not maintain effective internal control over financial reporting” following its accounting fraud scandal.
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ArticleWestpac outlines compliance failures that led to AML breaches
An internal report outlining compliance failures by Australia-based financial institution Westpac that led to 23 million breaches of the country’s AML/CTF laws concluded “a mix of technology and human error” were to blame.
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ArticleCompliance has a role in eliminating corporate bullies
Anti-bullying should be at the top of your compliance agenda and should be supported by increased gender balance, writes financial crime expert Martin Woods.
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Article
Argo Group to pay $900K for failing to fully disclose CEO perks
Argo Group International Holdings must pay a $900,000 civil penalty in a settlement reached with the SEC to resolve charges that it failed to fully disclose perquisites and benefits provided to its former chief executive officer.
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ArticleEricsson appoints DOJ-mandated compliance monitor
Ericsson announced the appointment of Andreas Pohlmann as its independent compliance monitor for the next three years in accordance with a deferred prosecution agreement reached with the Department of Justice over FCPA violations.
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ArticleRevised DOJ compliance guidance highlights risk, training, more
The Department of Justice posted new revisions to its “Evaluation of Corporate Compliance Programs” guidance, directing prosecutors to ask whether compliance is “adequately resourced and empowered to function” effectively, among other changes.
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Analysis: VW ‘deliberately immoral’ ruling pushes governance lessons
A look at a recent court case against car manufacturer Volkswagen once again places the company in the spotlight but, perhaps more importantly, offers some lessons in how to live up to shareholder expectations of good governance that protects their investment.
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ArticleFinCEN advisory details coronavirus risks for financial industry
The Financial Crimes Enforcement Network has issued what it says is the first of several advisories concerning financial crimes related to the COVID-19 pandemic.
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ArticleAres Management to pay $1M for compliance failures
Ares Management will pay a $1 million civil penalty to resolve charges by the SEC that it failed to implement and enforce policies and procedures reasonably designed to prevent the misuse of material nonpublic information.
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ArticleSpecial report: Leadership in a time of unpredictable change
Executive coach Amii Barnard-Bahn reveals five tips for instilling compliance and ethics throughout the organization in times of uncertainty.
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ArticleBoeing appoints chief compliance officer
Aerospace giant Boeing recently appointed Uma Amuluru as vice president and chief compliance officer following the combining of its compliance and legal functions.
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ArticleCW2020 wrap-up: Tips for CCOs on leading in a crisis
The themes of honesty and integrity defined the leadership best practices shared by more than 40 speakers across 15 sessions at Compliance Week’s first-ever Virtual Conference.
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ArticleCarnival CECO trying to right the ship amid ‘two storms’
The entire cruise industry was hit hard by coronavirus, but for Carnival CECO Peter Anderson the challenges were twofold: How to steer his company through both a compliance monitorship and a global pandemic.
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ArticleAnalysis: Fraud in Germany propels new European AML plan
Financial crime expert Martin Woods reviews the “cum-ex” scandal and how a recent action plan from the European Banking Authority aims to help stop such schemes from burgeoning.
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ArticleHolloway’s bold strategy lands him CW’s CCO of the Year
U.S. Steel Chief Compliance Officer Duane Holloway’s successful efforts to overhaul the ethical principles of a 119-year-old company earn him the distinction of becoming CW’s first-ever CCO of the Year.
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ArticleJosh Drew led by example in getting VEON through DPA
CW’s Compliance Comeback of the Year Josh Drew, group chief ethics & compliance officer at VEON, discusses the challenges he faced when rebuilding the company’s ethics and compliance program under a monitor’s watchful eye.
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ArticlePenman an E&C pioneer with an uncanny ability to connect
Lifetime Achievement in Compliance award winner Carrie Penman walks us through her compliance journey—from creating the first corporate-wide ethics program at Westinghouse Electric to her influential ethics and compliance work at NAVEX Global.
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ArticleFlexible approach needed in return from coronavirus
Can an employee, fearful of contracting coronavirus, refuse to return to work? Though the law may be on the employer’s side, there should be room for negotiation.
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ArticleAdvaMed issues pandemic compliance guidance for med-tech
The Advanced Medical Technology Association has released new compliance guidance for medical-technology companies to guide them in mitigating compliance and corruption risks as they help healthcare providers fight coronavirus.