All Compliance Week articles in Web Issue – Page 624

  • Blog

    New Justice Department guidance and FCPA Pilot Program

    2016-04-15T12:15:00Z

    When the DoJ speaks, chief compliance officers should listen—especially when the talks center on enforcement. The agency has launched a pilot program for Foreign Corrupt Practices Act enforcement that details three areas of self-disclosure to be required by companies going forward. If a company meets all three areas, it could ...

  • Blog

    FASB finalizes guidance on licensing, performance obligations

    2016-04-14T11:30:00Z

    FASB has issued guidance related to the revenue recognition standard to clarify licensing and identifying performance obligations. The guidance says entities are not required to assess whether promised goods or services are performance obligations if they are immaterial in the contract with the customer. It also provides some clarification around ...

  • Blog

    OSC set to launch whistleblower program in summer 2016

    2016-04-14T09:30:00Z

    The chairman of the Ontario Securities Commission confirmed this week that the OSC's new whistleblower office is expected to receive final approval in June 2016 and begin operations in "early summer" 2016. The OSC will be the first securities regulator in Canada to adopt a whistleblower program.

  • Blog

    75% of S&P 100 report non-GAAP earnings, study shows

    2016-04-13T20:00:00Z

    A recent Georgia Tech Financial Analysis study found that 75 S&P 100 companies reported non-GAAP earnings in 2013, with 48 companies making adjustments as a result of gains or losses due to non-recurring events. Income taxes gave rise to 30 adjustments, and 27 adjustments arose from restructuring and productivity-related charges.

  • Blog

    Will Olympus see FCPA trouble in China?

    2016-04-13T15:45:00Z

    Trouble seems to follow Japan-based Olympus. The company, which admitted in 2011 to a $1.7 billion accounting fraud, is once again facing corruption allegations. Olympus hired China-based Anyuanto to help turn it around, despite the fact that Anyuan’s chairman had previously been convicted of fraud; Olympus’ contract wasn’t with Anyuan ...

  • Blog

    New EU auditor rotation rules have auditors playing musical chairs

    2016-04-13T15:00:00Z

    Are companies ready for new EU-wide auditor rules coming in June? A survey commissioned by Big Four firm EY of 100 senior-level executives and non-executives in the FTSE 350 finds that while a majority, 83 percent, understands the rotation rules, only 42 percent have a plan in place. More than ...

  • GlassesReportCard
    Blog

    Banks get report cards, to-do demands for their ‘living wills’

    2016-04-13T14:45:00Z

    The Federal Deposit Insurance Corporation and the Federal Reserve Board have released firm-specific report cards on the 2015 resolution plans of eight systemically important, domestic banks. The determinations were made public on Wednesday, one day after a report by the Government Accountability Office called for greater transparency in how their ...

  • PrivacyShield_0
    Blog

    EU data protection authorities concerned with EU-U.S. Privacy Shield

    2016-04-13T13:30:00Z

    A draft transatlantic data transfer framework approved in February by the European Commission and the U.S. Department of Commerce received a less-than-enthusiastic response from EU data protection authorities in an opinion released today, effectively giving U.S. companies little assurance as to how they can legally transfer personal data from Europe ...

  • Blog

    Calvert Investments appoints chief compliance officer

    2016-04-13T12:30:00Z

    Calvert Investments has appointed Jason Rosenberg as chief compliance officer for the investment advisor and broker-dealer. Rosenberg is the latest in a series of recent hires by Calvert to ensure a strong culture of compliance.

  • Blog

    EU calls for corporate tax transparency

    2016-04-13T11:00:00Z

    Image: The European Commission has proposed rules requiring multinational companies currently active in the EU’s single market with a permanent presence in the European Union and with a turnover in excess of EUR 750 million a year to disclose publicly the income tax they pay within the European Union, country ...

  • Event

    General Counsel Summit

    2016-04-13T07:00:00Z 2016-04-16T21:00:00Z

    Palm Beach GardensPalm Beach Gardens, FL 11111United States

  • Blog

    PwC elects Tim Ryan new U.S. chairman

    2016-04-12T16:45:00Z

    Image: /*-->*/ PwC has appointed former audit leader Timothy Ryan as its new U.S. chairman for a four-year term. Ryan succeeds Bob Moritz, another former audit leader who was recently appointed global chairman of PwC after two terms as U.S. chairman. Ryan has served since 2013 ...

  • Article

    Special report: Are FCPA actions merely a slap on the wrist?

    2016-04-12T14:15:00Z

    Companies on the receiving end of an FCPA enforcement action often face monitoring, fines, and litigation as a result. But many times, what they don’t experience is a drop in their share price. In fact, among the largest FCPA violations on record, many companies saw no drop in share price. ...

  • Blog

    PCAOB proposes new rules for supervising outside audit work

    2016-04-12T13:30:00Z

    The PCAOB is changing the rules on how audit firms must manage the outside auditors they hire to help with audit work. The board has proposed for public comment a new standard and amendments to existing standards to direct auditors on how they must evaluate and supervise the work of ...

  • Article

    Regulators explore what’s wrong with audit supervision

    2016-04-12T12:45:00Z

    Image: Audit supervision in general and auditing firm staffing levels and management structure in particular are under scrutiny as an old question surfaces: How can audit firms improve the quality of their own systems? “There is this inference that we keep finding engagements where we think the auditing standards aren’t ...

  • Blog

    AMU co-chief Marshall Sprung announces departure from SEC

    2016-04-12T10:00:00Z

    Marshall S. Sprung, co-chief of the SEC Division of Enforcement’s Asset Management Unit, is leaving the agency after 13 years of service. Sprung's co-chief, Anthony Kelly, will continue to lead the unit following Sprung’s departure later this month.

  • Article

    Even with concessions, Labor Department’s fiduciary rule is still controversial

    2016-04-12T09:45:00Z

    The Department of Labor has finalized a new rule that requires retirement investment advisers to meet a fiduciary standard and eliminate conflicts of interest with their clients. Although several notable concessions worked their way into the final rule, CW’s Joe Mont says to expect continued controversy as advisers struggle with ...

  • Event

    Supply Chain Management: Strategy and Planning for Effective Operations

    2016-04-12T07:00:00Z 2016-04-15T21:00:00Z

    ChicagoChicago, IL 11111United States

  • Event

    The 21st Sub-Advised Funds Forum

    2016-04-12T07:00:00Z 2016-04-13T21:00:00Z

    BostonBoston, MA 11111United States

  • Blog

    SEC obtains settlement in kickback scheme

    2016-04-11T16:15:00Z

    Seven individuals from broker-dealer Direct Access Partners settled charges with the SEC last week for their role in a massive kickback scheme to secure the bond trading business of a state-owned Venezuelan bank. As Compliance Week previously reported, the SEC and Department of Justice unsealed criminal charges in May 2013 ...