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Accounting & Auditing
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CPSC fines Google-owned Fitbit $12M for failing to report smartwatch burn hazard
The U.S. Consumer Product Safety Commission ordered Google-owned Fitbit to pay more than $12 million and comply with certain undertakings to settle allegations the company knowingly failed to report a serious burning hazard with its Ionic smartwatches.
FRC discloses probe of KPMG over 2022 audit of gambling company Entain
The U.K. Financial Reporting Council disclosed an investigation into KPMG’s audit of international sports betting and gambling company Entain Group.
Cannabis company dinged by SEC over ‘round-trip’ transfer to inflate year-end cash
A cannabis company agreed to pay $225,000 to settle allegations that funds were temporarily deposited into its year-end accounts for the sole purpose of inflating year-end cash, the Securities and Exchange Commission said.
SEC slams WWE founder Vince McMahon for misstatements caused by hush money payments
Vince McMahon, the founder and former CEO of WWE, was fined $400,000 and ordered to reimburse the wrestling giant more than $1.3 million to settle charges brought by the Securities and Exchange Commission that he failed to disclose hush money payments he made on behalf of himself and the company.
Becton Dickinson pays $175M for misleading investors about flawed IV pump system
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
Survey: Organizations broadly adopting AI, with varied governance
The majority of businesses are using AI and doing so without governance–a compliance gap that poses extreme risks, a new survey by Compliance Week and GAN Integrity found. A webinar will discuss why it is crucial to have AI governance, how to implement it, and what strategies to strengthen programs.
KPMG report on regs in 2025: Use data analytics to predict, respond to Trump administration changes
Regulations are sure to be rolled back under President Donald Trump, but the question is which regulations, and how much? Is your organization as prepared to respond when regulations are loosened as it was when they were tightened?