All United States articles – Page 175
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FASB Q&A addresses lease concessions related to coronavirus
FASB staff has issued interpretative guidance in the form of a question-and-answer document addressing accounting for lease concessions related to economic effects of the coronavirus pandemic.
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Pandemic, government money create perfect storm for financial fraud
A global pandemic, an unprecedented flow of government money, and a weakening of lending controls could create a perfect storm of opportunity for fraudsters.
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Is tracking adherence to stay-at-home mandates a privacy concern?
Google has offered health officials a way to use data to monitor people’s behavior during the government’s mandatory quarantines, but some say the gesture may “raise significant privacy concerns.”
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Luckin Coffee, iQIYI fraud allegations point to wider China problem
Scathing reports against China-based Luckin Coffee and iQIYI both alleging fabricated revenues are the latest examples of a much broader accounting and auditing problem in the United States.
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SEC’s Clayton stresses importance of coronavirus disclosures
With the close of the first quarter and earnings releases and investor calls around the corner, senior leadership at the SEC is pushing for full disclosure transparency regarding impact of the coronavirus pandemic.
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Why risk, compliance, and ESG principles matter now more than ever
The current regulatory and risk climate puts companies in a unique position to showcase their GRC and ESG principles, positioning them to thrive in the long run.
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Survey: Coronavirus has companies scattered with exec pay packages
Results from executive compensation consulting firm Pearl Meyer’s recent survey show that companies are all over the place with how they intend to treat executive compensation during the coronavirus pandemic.
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Fed grants Wells Fargo temporary relief from asset cap restriction
An asset cap imposed on Wells Fargo in response to systemic failures at the bank in recent years has been temporarily modified to reduce limitations on its ability to distribute loans amid the coronavirus pandemic.
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FASB votes to approve leases, rev rec delays amid coronavirus response
The Financial Accounting Standards Board ruled unanimously on tentative effective date delays to standards affecting revenue recognition and leases in response to the ongoing coronavirus pandemic.
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FinCEN, OCC offer BSA compliance relief amid pandemic
Two federal agencies that oversee Bank Secrecy Act requirements have notified financial institutions they will agree to “reasonable delays” in the filing of required reports if institutions can show the delays are necessary due to the coronavirus pandemic.
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Study: Europe blows U.S. away in financial crime spending
A new report found financial institutions spent $181 billion on financial crime compliance worldwide last year, with European firms spending three to four times more than their counterparts in North America.
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What government contractors need to know about coronavirus-related excusable delays, defenses
Government contractors seeking guidance on how to minimize costly delays and disruptions during the coronavirus (while preserving their rights) can look to these tips from a recent Webinar.
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Regulatory slowdown due to coronavirus makes compliance role critical
The ongoing pandemic is limiting investigations into most types of white-collar crimes as federal enforcement agencies refocus their attention on coronavirus-related matters.
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Eni, SEC in ‘advanced discussions’ on corruption probe resolution
Italian oil company Eni said in a recent regulatory filing it is in “advanced discussions” regarding a resolution to an SEC probe into allegations of corruption for the award of certain contracts in Algeria.
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AICPA best practices for conducting remote audits in uncertain times
Auditors facing higher audit risks and new accounting and reporting issues as a result of the coronavirus pandemic and downturns in the economy have some new guidance from the AICPA.
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SEC charges chief compliance officer in trading scheme
The SEC has filed a complaint against four individuals, including a former chief compliance officer, for conducting a fraudulent unauthorized trading scheme through retail customer accounts at their Commission-registered brokerage firm.
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SEC continues whistleblower award surge with $2M payout
The Securities and Exchange Commission announced the award of $2 million to a whistleblower—its fifth payout in the last 12 days. For the year, the SEC has already matched its 2019 total of eight awards.
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Lessons from Zoom: Coronavirus exposes videoconference risks
Stay-at-home orders during the coronavirus pandemic have led to explosions of use for popular videoconferencing platforms, some of which have struggled to adjust to new privacy concerns.
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Ask Amii coronavirus mailbag: How prepared can you be for the unknown?
In this special edition of the Ask Amii Mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn answers questions on tackling the uncharted territory of the coronavirus pandemic.
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SEC won’t delay Reg BI amid pandemic
The Securities and Exchange Commission has no plans to delay its controversial Regulation Best Interest rule despite the impact the ongoing coronavirus pandemic has had on U.S. markets.