All Compliance Week articles in Web Issue – Page 584
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Blog
FASB proposes amortization change on some debt securities
FASB is proposing to change the accounting for callable debt securities, altering amortization provisions for those purchased at a premium. Tammy Whitehouse has more.
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Blog
Time for ‘Le Journal de Jérôme Kerviel, part deux?’
In 2008, Bruce Carton wrote about the saga of Jérôme Kerviel—a comic book that told the story of the then-31-year old junior trader who nearly brought down French bank, Société Générale, with his rogue trading. In light of more Kerviel-related events since 2008, is a sequel in order?
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Blog
California Treasurer suspends state's business with Wells Fargo
California State Treasurer John Chiang has suspended his state's financial relationships with Wells Fargo and, with a threat to blacklist the bank permanently, is demanding corporate governance reforms.
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Resource
How to Implement Practical Security Assessments
Embracing good concepts behind risk evaluation and control assessment is vital for security-minded organizations. With this foundation in place, you’re better positioned for a security audit.
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Blog
Singapore’s increased AML scrutiny might affect everyone
As Singapore considers cracking down on money laundering, the impact of such a move may ripple far beyond that nation’s own banking system. Tom Fox has more.
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Blog
Weatherford to pay $140M for accounting fraud
Switzerland-based oilfield services giant Weatherford International will pay $140M to settle charges that it inflated earnings by using deceptive income tax accounting. Jaclyn Jaeger reports.
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Blog
Jane Norberg named chief of SEC's Office of Whistleblower
Yesterday, the SEC named Jane Norberg as the new Chief of the SEC’s Office of the Whistleblower. Norberg, previously the Acting Chief, fills the position left vacant when Sean McKessy left the agency this summer.
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Blog
The DoJ's view on what does—and doesn't—constitute meaningful cooperation
The Department of Justice’s Bill Baer provides the perspective needed to answer: What does, and what does not, constitute meaningful cooperation? Joe Mont reports.
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Blog
Reflections on the compliance profession from the SCCE Compliance and Ethics Institute
The Man From FCPA Tom Fox reflects on the changing role of the compliance practitioner and other lessons learned at the recent 15th annual SCCE Compliance and Ethics Institute in Chicago.
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Blog
Anheuser-Busch InBev settles FCPA case with SEC for $6M
Anheuser-Busch InBev today reached a $6 million settlement with the Securities and Exchange Commission for violations of the Foreign Corrupt Practices Act (FCPA) and for chilling a whistleblower who reported the misconduct. Jaclyn Jaeger reports.
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BlogWells Fargo CEO forfeits $41M; DOL launches labor law investigations
The latest developments in the ongoing Wells Fargo scandal: clawbacks, including a $41M hit for CEO John Stumpf; a Department of Labor investigation; and a new class-action lawsuit. Joe Mont has more.
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Blog
COSO issues new fraud risk management guide
COSO, author of the most widely accepted internal control framework in the United States has released a new guide meant to help companies beef up their fraud risk management. More from Tammy Whitehouse.
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Article
Worried the SEC might come after you personally? You should be
Jaclyn Jaeger looks at yet another case brought by the SEC spotlighting the sort of conduct that can result in a personal liability claim against legal and compliance officers.
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Article
Valuation practices under SEC scrutiny
U.S. regulators have made it clear that the process for producing numbers in a financial statement is as important—if not more so—than the numbers themselves. Jaclyn Jaeger has more.
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Blog
All is not well at Wells
Stephen Davis and Jon Lukomnik examine the fallout from the Wells Fargo scandal, delving into what could have been done better by management and offering some tips for other companies, read: banks, to avoid the same fate.
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ArticleIn tech sectors, revenue recognition talks are intense
In preparing to adopt the new revenue recognition standard, experts debate how to apply the rules to complex contracts. Tammy Whitehouse reports.
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Article
The EpiPen controversy’s bad omens for pharmas
At a recent hearing with the CEO of Mylan, the maker of EpiPen, legislators hinted at not only price controls, but an increased scrutiny of executive pay. Joe Mont has more.
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Article
SFO charges three Tesco execs
The Financial Reporting Council ended the investigation of U.K. retail giant Tesco’s former CFO, and the Serious Fraud Office just brought charges against three more individuals. Neil Hodge has more.
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Blog
Internet of Things’ role in internal audit & compliance
How can internal audit support disruptive opportunities while monitoring for emerging risks coming from the Internet of Things? Columnist Jose Tabuena discusses these challenges.
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Blog
There simply are not enough cyber-security specialists
Companies need to get much more aggressive when it comes to recruiting the right talent to head their cyber-security efforts, writes John Reed Stark.