All Internal Controls articles – Page 43
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Article
Valeant’s financial restatement begs compliance questions
Valeant Pharmaceuticals’ announced financial restatement raises questions about the drug company’s compliance program and its business model. But it might also serve as an early warning to all publicly listed U.S. companies about the increased room for misjudging the booking of sales once FASB rolls out its new revenue recognition ...
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Blog
Global risks driving transformational change
As risk management in general improves, we are seeing more CEOs embracing risk management as a concept and as a practice. But we also see misdirected focus and lack of attention to some of the greatest risks and opportunities facing their companies. Where companies are getting it right, they’re driving ...
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Blog
SEC Charges Magnum Hunter with faulty evaluations of internal controls
Oil and gas producer Magnum Hunter Resources and several individuals settled charges this week with the Securities and Exchange Commission for deficient evaluation of the company’s internal controls over financial reporting, and failures to maintain internal control over financial reporting.
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Article
Evolving your identity management program: Six cautionary considerations
For compliance professionals in regulated industries, there’s perhaps no greater challenge than identity management. Call it a program, a best practice or simply a daily struggle to account for all users and all the systems to which they have access—identity management is a beast that is tough to tame.
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Blog
Chariots of Fire
Hoverboards were this holiday season’s must-have present, but ongoing product safety concerns, patent infringement lawsuits, and even a regulator raid at a prominent electronics industry tradeshow all point to a product category that has been rushed to market in more ways than one, constituting a compliance failure that is as ...
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Resource
GRC Capabilities Illustrated Series: Review Design and Operation of GRC Capabilities for Principled Performance
We’ve all heard the old adage “what gets measured, gets done,” and this applies equally to GRC management actions and controls, which must be reviewed for operational effectiveness. Beyond that, we must consider that changes to the external and internal context may render our current actions and controls ineffective, so ...
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Blog
New ADP Solution Helps With Wage and Hour Compliance
ADP recently announced the launch of ADP Time & Attendance, a new time and attendance management solution designed to help small businesses simplify wage and hour law compliance, help control overtime, help reduce labor costs, and increase payroll accuracy and efficiency.
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Blog
Poll: Lack of Quality Data Poses Due Diligence Challenges
Regulators are increasingly demanding greater evidence of well-developed anti-money laundering compliance programs, processes, and systems and controls, and yet global companies are struggling to keep pace with it all. According to a new webinar poll conducted by Arachnys and Charter, 50 percent of compliance teams said the greatest challenge posed ...
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Blog
Haskell & White Adds Director of Finance and Administration
Haskell & White, an independently owned accounting, auditing, and tax consulting firm, has hired Eleanor Schultz as the firm’s director of finance and administration. Schultz will oversee the firm’s internal accounting and finance functions, human resources, and facilities and will play a key role in assisting with the firm’s overall ...
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Blog
AvePoint Enhances Privacy Impact Assessment Solution
AvePoint, a provider of enterprise-class governance, compliance, and management solutions, recently announced the general availability of the latest release of the AvePoint Privacy Impact Assessment (APIA) solution, exclusively distributed by the International Association of Privacy Professionals. APIA mitigates the risk inherent with manual privacy impact assessments, helping organizations understand and ...
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Article
SEC’s Concerns Prod a Rethinking of Outsourced Compliance
Image: Faced with budget constraints, firms frequently turn to external professionals to supplement compliance programs—but the SEC has provided a laundry list of problems with that approach. “The SEC has not banned outsourced compliance in any way or said it is presumptively disfavored, but reading between the lines you get ...
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Article
Achieving a Unified View of Financial Crime Risk
Increased regulatory scrutiny and the sting of billions in fines and penalties resulting from misconduct have prompted many financial firms to pour money into their compliance programs—investments that may be in vain without a unified view of risk. The tech challenges to build that view are considerable, but not impossible ...
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Article
Global Investigations in the Modern Era
“Europe” may be a nice short-hand for discussions about global business, but in reality is still 28 individual nations, each with their own laws and customs. Little surprise, then, that in several discussions about internal investigations at the Compliance Week Europe conference, the subject got complicated quickly. We have the ...
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Resource
Selecting Foundational Controls Makes PCI DSS Compliance Easier
Key components of regulatory compliance include being able to demonstrate the use of appropriate IT-related internal controls that mitigate fraud risk, and the implementation of necessary safeguards for legally protected information that’s electronically stored and transmitted. Read this Dell white paper for a look at PCI DSS security compliance from ...
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Resource
GRC Capabilities Illustrated Series: Perform GRC Actions and Controls for Principled Performance
Principled performance is all about being able to reliably achieve objectives while addressing uncertainty and acting with integrity. You need to address threats, opportunities, and requirements by encouraging desired conduct and conditions and preventing what is undesired. Performing the right management actions and controls over business operations, risk, and compliance ...
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Article
As Companies Reorganize Themselves, Compliance Concerns Demand Consideration
Some of the nation’s best-known companies are redefining themselves. Google created a new holding company to spin off its more exotic interests into separate companies; Alcoa is planning to divide into two public companies; Dell and data storage giant EMC are planning to merge. When companies restructure, no matter the ...
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Article
ISO 20022: Tepid U.S. Embrace for New Financial Standard
Image: The push to adopt a new ISO standard for financial transactions is gaining momentum on a global scale—even as the United States continues to weigh the business case for it. “It’s important because it is seen as the standard that all new financial transactions will move to over time,” ...
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Resource
e-Book: Conducting Effective Investigations
Corporate investigations are a critical component of a robust compliance program; without the right resources to investigate allegations of wrongdoing, a company can suffer serious financial damages, and its credibility with regulators can also be called into question.To help compliance officers and legal teams navigate those challenges, this e-Book produced ...
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Blog
Benchmark Report Shows Latest Trends in Training Programs
A new report conducted by NAVEX Global offers fresh benchmarking data for ethics and compliance officers looking to see how their training program, objectives, and challenges compare to their peers. Among the findings: employee cynicism and fear of retaliation for speaking up about misconduct are the top two challenges to ...
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Blog
Former Wells Fargo Compliance Officer Wins SEC Case
A former compliance officer of Wells Fargo Advisors who faced an enforcement action by the Securities and Exchange Commission last year for allegedly altering a document before it was provided to the SEC during an investigation has won dismissal of her case. “Wells Fargo clearly had much deeper and more ...