All Compliance Week articles in Web Issue – Page 635
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Blog
FASB Proposes More Changes to Revenue Standard
FASB is asking for feedback by Nov. 16 on its planned fixes to the revenue recognition standard to address implementation challenges around collectibility, taxes, non-cash consideration, contract modifications, and other technical issues. The board says its proposed amendments should reduce the degree of judgment necessary to apply the new revenue ...
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Blog
Researchers Defend Big Money CEO Severance Pay
A surefire way for a company to garner bad press and anger investors is to reward an outgoing, terminated CEO with a hefty payout despite poor firm performance. A recent study published in The Accounting Review, a publication of the American Accounting Association, puts a contrarian spin on those controversies ...
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Blog
The Curious Incident of the 'Life Coach' and the Press Release
The SEC loves to craft press release headlines that feature defendants' interesting or high-profile jobs, but it missed a golden opportunity to do just that in its announcement of an insider trading case last week.
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Blog
EIOPA Requires ‘Robust’ Risk Management Framework
Image: The European Insurance and Occupational Pensions Authority (EIOPA) is backing the creation of a separate asset class for high-quality infrastructure investments under Solvency II. The EIOPA also stressed that insurers should have the proper due diligence and risk management procedures in place to tackle the complexities associated with this ...
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Blog
Third Parties Face Penalties Over ‘Deliberate Tax Evasion’ Scheme
An investigation into third parties by the Revenue Commissioners of Ireland revealed that some companies were deliberately dodging tax laws by submitting incomplete and doctored disclosures to avoid penalties. According to a report by the comptroller and auditor general, tighter regulations are necessary to help crack down on tax evasion ...
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Blog
More Volcker Rule Questions Answered
The Securities and Exchange Commission has added another round of supplemental guidance to its growing list of “frequently asked questions” regarding Volcker Rule compliance. The latest updates, released on Sept. 25, address CEO attestation and compliance program requirements for market-making activities. More inside.
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Resource
e-Book: The Evolving Era of Big Data
Data has broken free from the confines of computers and mobile devices, making it hard for pretty much anyone to control what is collected, how it is aggregated, and how it can be used. To make matters worse, a new breed of connected devices is becoming a far more difficult ...
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Blog
FASB Simplifies Business Combinations Accounting
FASB has approved a change that simplifies accounting for business combinations, so companies will no longer be required to make retrospective adjustments to historical data as if the facts of the acquired unit had been known from the date of the acquisition. Instead, the acquiring company will recognize adjustments to ...
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Blog
Credit Suisse Securities to Pay $4.25M for ‘Blue Sheet’ Compliance Lapses
Credit Suisse Securities yesterday reached a $4.25 million settlement with the Securities and Exchange Commission for submitting deficient information to the agency over a two-year period about trades done by its customers, commonly referred to as “blue sheet data.” “We will continue to hold broker-dealers who fail to comply with ...
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Article
Defining Materiality and Sustainability
“Materiality” has long been defined as that financial information which might harm or benefit a shareholder. In modern corporate governance, however, that’s changing. One new proposal seeks to define material information in terms of sustainability for multiple stakeholders, not just shareholders. That has sparked debates over fiduciary duty, corporate personhood, ...
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Article
New U.K. Law Turns Up Heat on Human Trafficking Transparency
Image: Companies doing business in the United Kingdom, take note: a new law in the country establishes new disclosure obligations about what you’re doing to tackle slavery and human trafficking in your operations, as well your supply chain. “Companies should start preparing to ensure compliance with the legislation as soon ...
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Article
Supply Chain Risk Continues to Challenge Companies
Rare is the business these days that can afford to be cavalier about the regulatory scrutiny on its supply chain. So why do so many still struggle so much to gain visibility and control over vendors and suppliers? A lack of sophistication in monitoring third parties (never mind fourth parties ...
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Article
Aligning the Organization for Principled Performance
Management must align objectives to the organizations’s business environment and internal culture, but what does alignment really mean? In this latest installment of the GRC Illustrated Series, brought to you by Compliance Week and OCEG, experts discuss alignment in the context of GRC and keeping the company on the right ...
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Article
SEC Accounting Enforcement: Bigger and Badder
Image: Perhaps some public companies haven’t yet taken to heart the (numerous) signals from regulators to button up their internal controls. A recent legal analysis of accounting-related enforcement actions from the SEC should do the trick. Sanctions are happening more frequently, and penalties are bigger. “The SEC is effectively ...
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Article
Shop Talk: Moving From Compliance to ERM
Moving from silos of compliance to enterprise risk management is a complex task under the best of circumstances. Where should ERM sit within the company? How do you win support from business units? How do you get the data you need to make informed decisions about risk? At Compliance ...
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Blog
Moves Against FIFA, VW: Sweating in the C-Suite?
Image: Talk in corporate compliance circles lately has been dominated by the United States and publication of the Yates Memo, where the Justice Department will be pushing for more prosecution of individuals. The real bite for compliance, however, might be happening in Europe, where regulators are moving against the chiefs ...
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Article
Roundtable Biographies - 091515
On Sept. 15, Compliance Week and Workiva presented an editorial roundtable at the Hyatt Regency in Orlando. The focus of the roundtable, which was moderated by Compliance Week Editor Matt Kelly, was on compliance collaboration to drive ERM. Attendees’ full biographies are below.Marie BlakeEVP, Chief Compliance OfficerBank United Marie Blake ...
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Blog
Titanium Transportation Group Appoints General Counsel
Titanium Transportation Group, an asset-based transportation and logistics company servicing Canada and the United States, has appointed Nia Karabatsos as general counsel. She joins Titanium from the business law group at Cassels Brock & Blackwell. More inside.
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Blog
Ventas Names Chief Accounting Officer and Controller
Ventas, a real estate investement trust, has promoted Gregory Liebbe to senior vice president, chief accounting officer and controller, effective immediately. In his new position, Liebbe will lead all aspects of Ventas’s accounting functions, including internal and external financial reporting. More inside.