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“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Survey: Banks not preparing enough for CECL standard
According to a recent survey by RapidRatings and Compliance week, banks are nowhere near ready for FASB’s CECL requirements scheduled to go into effect in 2020.
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News BriefPCAOB fines KPMG units $3.4M, PwC Singapore $1.5M for audit, independence violations
Nine affiliates of KPMG agreed to pay a total of nearly $3.4 million for alleged violations of audit and quality control standards, while PwC Singapore will pay $1.5 million to settle separate allegation that the firm manipulated independence compliance reporting.
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OpinionWhy are CFOs struggling to stay compliant?
CFOs are tasked with overseeing an organization’s entire financial processes, not least ensuring that financial operations remain compliant with the multitude of global regulations. It’s a heavy burden to carry that might be alleviated slightly with the help of artificial intelligence, writes Markus Hornburg, head of compliance at Basware.