All articles by Kyle Brasseur – Page 41
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ArticlePCAOB study: Improved quality control needed in broker-dealer audits
Modest improvements in the audits of broker-dealers do little to absolve the need for firms to evaluate how they can enhance their systems of quality control, according to the latest figures from the PCAOB.
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ArticleTrump’s TikTok crusade a hollow win for privacy
There’s no questioning the need to protect the data of U.S. citizens from China, but it’s naïve to think pressuring TikTok to take up a U.S. owner is anything more than a hollow victory given our lack of federal oversight in the area of privacy.
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ArticleOFAC announces rare sanctions enforcement against individual
The Office of Foreign Assets Control announced a $5,000 settlement with a U.S. person for apparent sanctions violations—a reminder the regulator can pursue enforcement against individuals in addition to companies.
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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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ArticleDespite pandemic, ‘time to act is now’ on LIBOR transition
Focus on LIBOR transition may have slipped during the coronavirus pandemic, but the recent conversation among regulators is once again looking toward life after the soon-expiring reference rate.
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FASB ASU simplifies liabilities, equities guidance
The Financial Accounting Standards Board finalized changes to accounting standards meant to simplify complexities surrounding liabilities and equities.
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ArticlePCAOB: Increased audit communication a silver lining of pandemic
The PCAOB’s latest “Conversations with Audit Committee Chairs” update highlights the benefits committee chairs say they have gleaned from increased communications with auditors during the coronavirus pandemic.
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ArticlePG&E names new CECO amid leadership shuffle
PG&E Corp. is shaking up its management team, including the impending appointment of John Simon as executive vice president, general counsel and chief ethics & compliance officer.
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ArticleWhitford to pay $824K for sanctioned dealings in Iran
Cookware coating manufacturer Whitford Worldwide has agreed to pay $824,314 as part of a settlement with OFAC regarding subsidiary dealings in the sanctioned country of Iran.
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ArticleIIA CEO Chambers to step down
The Institute of Internal Auditors announced longtime President and Chief Executive Officer Richard Chambers plans to step down at the end of March.
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ArticleIIA’s ‘Three Lines of Defense’ updated to stress collaboration
The Institute of Internal Auditors’ updated “Three Lines Model” ditches the focus on defense of its predecessor to encourage more effective collaboration between key players within an organization.
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ArticleEx-FASB head Golden to lead PwC independent advisory committee
Big Four audit firm PwC announced the addition of former Financial Accounting Standards Board head Russell Golden as chair of its recently formed, independent Assurance Quality Advisory Committee.
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ArticleFRC closes accounting investigation into Mitie Group
The U.K. Financial Reporting Council announced the closure of its nearly three-year-long investigation into the financial statements of facility management firm Mitie Group for the year ended March 31, 2016.
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ArticleFRC audit inspections: Deloitte leads way as quality declines as a whole
The Financial Reporting Council published the results of its latest round of audit inspections, concluding one-third of the reviewed audits conducted by the seven largest U.K. firms required a notable level of improvement.
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ArticleStudy: U.S. largest target for ‘significant’ cyber-attacks
The United States has been on the receiving end of more significant cyber-attacks over the last 14 years than triple any other country, according to new research.
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ArticleFASB proposes delay to long-duration insurance standard
The Financial Accounting Standards Board proposed a one year delay to its standard on accounting for long-duration contracts at insurance companies as a result of the ongoing coronavirus pandemic.
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ArticleAmazon pays $135K to settle OFAC screening violations
Amazon will pay approximately $135,000 as part of a settlement with the Office of Foreign Assets Control regarding apparent sanctions violations derived from deficient screening processes.
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ArticleDeutsche Bank rightly paying the price for looking the other way on Epstein
In terms of Know Your Customer, Deutsche Bank knew what it had with Jeffrey Epstein. It just didn’t care enough to do anything about it.
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ArticleSupreme Court won’t hear challenge to CFTC authority
A lawsuit questioning the enforcement authority of the Commodity Futures Trading Commission has petered out after being denied the chance to be heard at the U.S. Supreme Court.
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ArticleLabor Dept. revives fiduciary rule with new proposal
The U.S. Department of Labor announced the proposal of a new exemption for investment advice fiduciaries designed to replace retirement-focused fiduciary rules made invalid two years ago.