All Compliance Week articles in Web Issue – Page 627
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BlogSEC’s whistleblower office on winning roll
The SEC’s Office of the Whistleblower has been on a winning streak, which continued this week as it announced an award of between $5 million and $6 million to a former company insider whose tips uncovered hidden securities violations. The office has now awarded more than $67 million to 29 ...
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Walmart prevails in shareholder FCPA-related derivative case
Walmart’s board of directors successfully moved to dismiss a shareholder FCPA-related derivative claim, in which shareholders accused the directors of breaching their fiduciary duties in connection with a massive bribery and corruption scandal at the retail giant’s Mexico operations. Jaclyn Jaeger reports.
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Regulators walk a tightrope when it comes to innovation, disruption
It was once an understood fact of life that regulators are reactive, not proactive, when it comes to rulemaking and industry standards. Now, with disruptive technology and sharing services evolving from quaint ideas to multi-billion- dollar enterprises, some are starting to shake off that reputation, albeit cautiously. Joe Mont has ...
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How the U.K.’s “shareholder spring” has put compliance in the driver’s seat
As the United Kingdom’s “shareholder spring” subjects numerous top-index firms to repudiations of carefully planned executive compensation plans, Stephen Davis and Jon Lukomnik discuss how the trend of compliance as a value creator and as the primary method of enforcing good behavior is becoming too big to ignore.
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New PCAOB audit report raises the question: What exactly is a ‘critical audit matter’?
As the Public Company Accounting Oversight Board revises its standard, boilerplate audit report, providing a more narrow definition of “critical audit matters” should go a long way toward giving investors better insight into some of the more challenging, subjective, and complex aspects of financial statements. Tammy Whitehouse provides an in-depth ...
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Non-GAAP measures continue to draw attention
Companies are striving to limit non-GAAP measures, as investors have lately expressed concern over their volume and the number of coinciding adjustments. Columnist Scott Taub helps companies answer the difficult accounting question, “Can we non-GAAP this?”
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FIFA audit and compliance committee chair resigns
The aftermath of the FIFA corruption scandal continues on, with the resignation last week of Domenico Scala, chair of FIFA’s audit and compliance committee. Scala resigned in protest over a governance change made at the international governing body of professional soccer.
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Amedisys chief compliance officer to take one year paid leave
Amedisys, a home health and hospice care company, said in a securities filing that Jeffrey Jeter, the company’s chief compliance officer, will take one year of paid leave under a new employment agreement between the company and Jeter.
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BlogOf power and responsibility
With great power comes great responsibility. The Norwegian Oil Fund already knows that, but it appears the company will give the entire world a responsiblity lesson as it takes more interest in the corporate governance policies of those firms in which it invests. The Man From FCPA Tom Fox has ...
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UHY names new managing director
UHY Advisors, a tax and business consulting firm, has promoted Brad Baer to managing director in the UHY management and technology consulting group.
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Is FIFA headed in the right direction?
Do FIFA's latest governance moves an indicator of a genuine effort to reform this embattled organization? Or is it just shuffling the deck chairs? The Man From FCPA Tom Fox reports.
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Siemens subsidiary names chief compliance officer
Siemens Government Technologies, a U.S. federal government subsidiary of Siemens has appointed Angeline Chen as general counsel and chief compliance officer, responsible for all legal, contracting and compliance issues. She will also serve as SGT’s corporate secretary.
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Sapient Global Markets introduces RegRecon
Sapient Global Markets, a global provider of business technology and consulting services for the financial and commodity markets, recently announced the launch of RegRecon, purpose built to solve industry issues surrounding low match rates and regulatory reporting accuracy.
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ArticleThe rules of the road for corporate monitors
Companies facing a corporate monitorship face many questions. How does the process work? What are the rules, not to mention proper etiquette, for having a monitor in your midst for upwards of three years? Joe Mont reports.
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Crowe Horwath buys BaxterBruce
Global risk consulting firm Crowe Horwath, through its subsidiaries, reached an agreement to purchase consulting firm BaxterBruce, which has deep specialization in insurance industry risk consulting.
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LockPath Joins Cloud Security Alliance
LockPath, a provider of GRC solutions, has joined the Cloud Security Alliance, a non-profit group that promotes best practices for securing cloud computing.
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Incisive adds new capabilities to detect spreadsheet fraud
Incisive Software has added automated detection capabilities to its spreadsheet management technology, Xcellerator, that locate hidden and misrepresented data within spreadsheets, making it easier for companies to detect fraud.
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FCA must not drop the ball on banking culture reforms
The U.K. Parliament’s Public Accounts Committee has issued a report that is not only deeply critical of the FCA’s decision to suspend its culture review of banks but also warns of “serious risks” of future mis-selling scandals. Paul Hodgson examines the report’s impact on U.K. bank culture.
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Telenor offers lessons on joint ventures
A report published last month by Deloitte details how Norwegian telecommunications company Telenor handled its 33 percent ownership in VimpelCom. Although the report did not find any evidence that employees engaged in corrupt activity, it did uncover several internal weaknesses in Telenor. Jaclyn Jaeger looks at lessons learned.
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FASB proposes easier way to measure goodwill impairment
FASB is proposing a new, simpler way to measure any reduction in the value of goodwill that companies should recognize on the balance sheet. Under the proposal, companies would perform their annual or interim goodwill impairment testing as they do under current guidance. Tammy Whitehouse has more.