All Compliance Week articles in Web Issue – Page 568
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Blog
Nortek dodges FCPA enforcement action
Nortek said yesterday in a securities filing that the Department of Justice has decided not to recommend an enforcement action against it in connection with a previously disclosed investigation into potential violations of the Foreign Corrupt Practices Act. The declination came in the same week that the company entered into ...
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Blog
Audit firm market shares show little shift
Accounting & auditing blogger Tammy Whitehouse looks at market share for the whole population of U.S. public companies. While not very drastic, says Whitehouse, there have been some notable changes to the top 10 firms.
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Blog
Companies sweat data details more than IT under new lease rules
Preparers seem more concerned about how they will gather and manage the data they need to comply with new lease accounting rules than they are about new IT system needs, according to a recent Deloitte poll. Tammy Whitehouse has an in-depth look at the survey.
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Article
Q&A: How financial institutions can help uncover human trafficking
Human trafficking is an enormous problem that, in addition to the human toll, generates $38 billion per year in revenue for criminals. Joe Mont spoke to Micah Willbrand, anti-money laundering and financial crimes expert with NICE Actimize, about the financial patterns that can uncover human trafficking activity and what role ...
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Blog
SEC: two FCPA cases result in non-prosecution agreements
The SEC has entered into non-prosecution agreements with Akamai Technologies and Nortek that will forfeit ill-gotten gains connected to bribes paid to Chinese officials by foreign subsidiaries. Simultaneously, the Justice Department closed its investigations into Akamai and Nortek. Jaclyn Jaeger reports.
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Blog
Quantopian hires chief compliance officer
Quantopian, a provider of capital, data, and infrastructure to algorithm authors, has appointed Derek Meisner as general counsel and chief compliance officer. He will advise the company on legal, regulatory, and compliance issues.
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Article
Inside the struggle to define, measure, and manage corporate culture
An organization’s culture is an important cornerstone of any compliance effort, but it remains a notoriously slippery thing. Experts at the Compliance Week 2016 conference provided their insights on how to better define culture so it can be adequately managed and measured. Tammy Whitehouse has more.
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Article
Fed proposes more ‘bank-like’ capital & risk standards for insurance companies
Insurance companies are increasingly targeted with bank-like regulation and oversight. The latest development: proposals by the Federal Reserve’s Board of Governors for new capital and risk management standards for systemically important insurance companies and those that own a bank or thrift. Joe Mont reports.
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Blog
Financial reporting has room for improvement, says KPMG
A recent KPMG report underscores some pretty widespread deficiencies when it comes to business reporting. Whether companies are failing to note the impact of new products or how much injury time they have suffered, most can stand to improve the state of their annual reports. Paul Hodgson has more survey ...
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Article
CW2016: Putting compliance into practice
Yes, yes—companies everywhere know that having in place an effective compliance program is more important today than ever before, but how are compliance officers actually achieving that? Jaclyn Jaeger recaps this discussion from Compliance Week 2016.
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Blog
Recent XBRL data improvement seen as first of more to come
According to the XBRL U.S. Data Quality Committee, public companies reduced the number of errors in their filings by 64 percent in the first quarter of 2016 compared with first quarter 2015. Tammy Whitehouse spoke with Committee Chair Mike Starr, who says he anticipates bigger improvements ahead due to continued ...
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Blog
Senior SEC enforcement official Stephen Cohen to depart agency this month
Stephen Cohen, associate director for the SEC’s Enforcement Division, plans to leave the agency later this month after 12 years of service. A senior member of the Commission’s enforcement staff, Cohen joined the SEC in 2004 and has served as associate director since 2011. Bruce Carton has more.
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Resource
Managing the Insider Threat with Active Directory Security
Explore how the typical insider threat unfolds, and how implementing security best practices can minimize these threats. Read the white paper.
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ArticleSpotting the difference between ‘significant deficiency’ and ‘material weakness’
Material misstatements involve mistakes large enough, surely, to involve some kind of internal control shortcoming that allowed the misstatement to occur in the first place. So why aren’t more internal control reporting and auditing processes helping to identify control lapses in advance of material misstatements? Tammy Whitehouse explores.
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Blog
Risk reporting to the board
On the heels of Jim DeLoach’s “Six Principles for Improving Board Reporting,” Richard Steinberg offers four more principles regarding board risk oversight to ensure effective risk management, establish who is responsible for it, put board reporting in its proper context, and set channels of communication.
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Blog
Warner Bros. appoints chief accounting officer
Warner Bros. Entertainment has named Roger Willard as chief accounting officer. In this newly created position, Willard will be a key member of the company’s senior finance team, ultimately responsible for all accounting and compliance practices as well as treasury operations of the Studio.
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Blog
Cyber-security due diligence: a new imperative
Weak cyber-security is as much a hallmark of corporate mismanagement as poor corporate governance, bad tone from the top, and check-the-box compliance. But by taking the due diligence aspects of cyber-security seriously, compliance officers can turn data protection into an opportunity. John Reed Stark has more.
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Blog
At FIFA, things are only getting worse
The FIFA corruption scandal continues to rock the world of international soccer with new allegations of wrongdoings by former president Sepp Blatter (above) and his cronies. FCPA blogger Tom Fox explores the conflicts of interest that arise when those in charge set, negotiate, and approve their own salaries.
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Blog
Crowe Horwath acquires AbleBridge
Crowe Horwath, a public accounting, consulting and technology firm, has recently acquired AbleBridge, a software company that develops and sells industry software solutions built upon the Microsoft Dynamics Customer Relationship Management (CRM) platform.