All Internal Controls articles – Page 46
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Blog
Managing FCPA Audits on a Global Scale
Enforcing anti-corruption policies among employees and third parties is one of the foremost concerns for compliance departments, but developing a robust process to assess and uncover bribery risks is not easy. At Compliance Week 2015, legal and audit executives with oil services giant Baker Hughes shared how they audit parties ...
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Article
Compliance Trends in 2015: More Authority, More IT Uncertainty
Good news for compliance officers in existential crisis: A majority of CCOs are now part of the senior management teams at their businesses, and they have more authority than ever before. Those are two among many findings of the 2015 Compliance Trends Report, the annual survey of compliance leaders conducted ...
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Blog
The Consequences of Baltimore and Body Cameras
Image: The protests and riots in Baltimore last week over police brutality make the question of body cameras for law enforcement ever more pressing. Are they effective controls against misconduct? Yes, Compliance Week editor Matt Kelly says. But when you consider what they say about the state of our ethical ...
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SEC Issues Whistleblower Award to Compliance Officer
Image: The SEC awarded more than $1 million to a compliance officer who provided information that helped in an enforcement action against the whistleblower’s company. “This compliance officer reported misconduct after responsible management at the entity became aware of potentially impending harm to investors and failed to take steps to ...
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Blog
New Guidance for Healthcare Compliance Oversight
An unusual coalition of compliance and audit professional associations has joined forces with federal healthcare regulators to publish new guidance on how healthcare organizations can carry out their oversight responsibilities. The guidance is intended for internal auditors, compliance, and legal executives that report to those boards, and carries the blessing ...
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Blog
Study: Supplier Payment Processes Need Improving
A new study conducted by market research firm Gatepoint Research and sponsored by global payments solutions provider Tipalti finds significant weaknesses in the systems and processes companies use to mitigate regulatory, compliance, and fraud-related payment risks. According to the study, 66 percent of 100 senior finance and accounting executives polled ...
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Blog
Farient Advisors Launches New Global Governance Network
Farient Advisors, an independent executive compensation and performance consulting firm, this week announced the launch of the Global Governance and Executive Compensation Network. The GECN brings together a select group of independent advisory firms specializing in the compensation and governance challenges that are faced by companies and other institutions, both ...
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Article
Smarter Approaches to Regulatory Change Management
Image: New regulations gush like a flood these days, forcing compliance officers to think of new ways to manage the current. Inside, we look at the IT strategies necessary to digest regulatory changes, plus the policy and procedure techniques to involve more parts of the enterprise. “It needs to be ...
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Article
NLRB’s Brain-Dump on Lawful Company Policies
Image: The National Labor Relations Board has churned out an extensive piece of guidance on what makes a company policy lawful or not, on everything from making disparaging comments (often can’t be forbidden) to talking with the media or regulators (forget about forbidding it) and many more. “The memo is ...
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Article
Putting All of That Talent to Work Smartly
Amid a tough climate of regulatory enforcement and an explosion of new rules after the financial crisis, many large companies—especially financial institutions—have beefed up their staffing on risk and compliance. But is more always better? While the investment sends a message, more boots on the ground may just step on ...
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Blog
White House Vetting Advisor Leaves for IGI
The Obama Administration’s vetting advisor for presidential candidiates, Douglas Graham, has joined private investigation and corporate intelligence firm Investigative Group International (IGI) as a managing director.
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Article
Post-Investigation Follow-Up and Discipline at 3M
Image: What role should compliance officers have in investigations and discipline? How can they maintain independence during an investigation and subsequent sanctions decisions, while developing an effective strategy for what happens next? We talked to Jim Zappa, chief compliance officer at 3M Corp. about his approach. Zappa will be among ...
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Blog
Survey: Disparate IT Systems Increase Compliance Costs
Many companies still rely on disparate systems and manual processes to manage their human capital management-related compliance, which in turn is putting a drain on company resources, according to a new survey released today by CFO Research and ADP, an HCM solutions provider. Details on the survey results inside.
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CW 2015 Conference Preview: Assessing Program Effectiveness
Image: Compliance officers are under constant pressure to demonstrate to senior executives, their boards, and regulators that the compliance function works. That means finding ways to measure compliance program effectiveness. To develop those metrics properly, “you have to define your goals,” says Anne Harris, former chief ethics officer of General ...
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Blog
NY Comptroller: Sweeping Compliance Overhaul in the Works
Image: The New York Comptroller’s Bureau of Asset Management is implementing sweeping compliance, ethics, and audit reforms for how it oversees the assets of the five city pension funds. These reforms will “significantly enhance accountability, transparency and ethics in my office,” said Comptroller Scott Stringer. Details inside.
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Blog
Prudential Financial Adopts New Clawback Policy
Prudential Financial this week adopted a new clawback policy covering all incentive-based compensation made to its executive officers in the form of stock options and other equity awards. "The policy, which marks an expansion of Prudential’s previous clawback policy, was adopted by the Board as part of its annual review ...
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Blog
Audit Committees, Operational Risk, and Unease
Image: News flash: Audit committees are still overworked and unsure how to handle new risks confronting Corporate America. So says the 2015 edition of the KPMG Audit Committee Survey, which tells some good news on financial reporting risks, amid a more troubling morass of operational and cyber-security risks nobody seems ...
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Blog
JPMorgan Breach Leads to Multi-State Probe
The attorneys general of 19 states have launched a joint investigation into JP Morgan, in the wake of its massive data breach last year that affected 76 million households and millions more small businesses. In a letter to JP Morgan sent last month, the states present a long list of ...
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Blog
Franklin Synergy Spins Off Compliance Unit
Franklin Financial Network, the parent company of Franklin Synergy Bank, has spun off its wholly-owned subsidiary, Banc Compliance Group, to BCG Consulting. The newly-independent company will continue to operate under the name Banc Compliance Group, and will continue to be managed by President Connie Edwards. Details inside.
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Article
Shop Talk: Useful Metrics, Effective Training
Effective compliance programs hinge on good training and proper metrics to see how your training influences employee behavior. That was the subject of Compliance Week’s latest executive roundtable, held in Washington and sponsored by LRN. Complete coverage is inside, from what effective metrics look like to how effective training works.