All Compliance Week articles in Web Issue – Page 638
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Blog
Compliance and Ethics Sputters at Volkswagen
Image: This week, anti-corruption blogger Tom Fox takes a closer look at the scandal involving Volkswagen and its diesel engine cars, intentionally designed to cheat emission standard testing through software nicknamed “defeat devices.” The world’s biggest carmaker admitted to U.S. watchdogs that it deliberately rigged computers in its cars ...
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Article
Appellate Court Ruling Leaves Compliance Officers Whistling in the Dark
Image: The recent appellate court ruling to expand Dodd-Frank whistleblower protections again, even to those who don’t report misconduct to the SEC, does no favors for companies trying to find the right policies for anti-retaliation. Ken Gage, head of the whistleblower defense practice at law firm Paul Hastings, says the ...
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Article
Managing Cyber-Risk in the Aviation Industry
Cyber-risks are increasing everywhere, and this week we look specifically at the aerospace sector. Recent high-profile data breaches at major airlines have jolted the industry, which is trying to piece together better ways to manage the risks. “Airplanes themselves have never been more complex, never been more reliant on technology. ...
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Blog
NexBank Appoints General Counsel
NexBank Capital, a fully-integrated financial services company, has appointed Dierk Hohman as general counsel of NexBank Capital, Inc. and NexBank SSB. Hohman brings 15 years of experience in law and finance and will oversee all legal, regulatory and compliance matters for the company. Details inside.
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Article
Today’s Revenue Rule Surprise: Non-Financial Assets
Image: Companies are starting to awaken to yet another wrinkle in the new revenue recognition standard: how it will affect the sale of non-financial assets, such as when you sell off an old property or intangible asset. “If you’re not in the real estate business, you don’t think of the ...
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Blog
Adventist Health to Pay $115 Million for False Claims Act Violations
Adventist Health System, a non-profit healthcare organization that operates hospitals and other health care facilities in 10 states, this week agreed to pay $115 million to the government to resolve allegations that it violated the False Claims Act by maintaining improper compensation arrangements with referring physicians and by miscoding claims. ...
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Blog
A Focus on Transparency—of Auditing
Expect lots of talk about transparency into auditing this fall. The SEC and PCAOB both have proposals to expand the disclosure to investors of how audits work, and what roles audit firms and audit committees play. Substantive changes are almost certainly coming, columnist Scott Taub says, so it’s time to ...
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Blog
Managing Outside Counsel: How Internal Audit Can Assist
Litigation and compliance risk brings something else beyond headaches: legal fees. The internal audit team can help there, even with tricky tasks such as monitoring the performance of outside counsel while they conduct an investigation. Inside, columnist Jose Tabuena offers recommendations on benchmarking what internal audit can do, analytics to ...
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Article
Calls for More Data Sharing to Step Up Terrorism Fight
Washington wants Corporate America to step up its attention to terrorism risk. That was the message at a recent congressional hearing, the latest instance of voices saying business and government should cooperate to uncover terrorists’ sophisticated financing schemes. “Most of the early warning signs reside with the private sector, and ...
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Article
Navigating Global Internal Investigations Under Main Justice’s New Policy
Image: The Justice Department’s new Yates Memo, demanding much more cooperation from companies to find individual wrongdoers, will pressure companies to pressure employees during internal investigations. In Europe and elsewhere, however, the law favors employees much more than in the United States, making global investigations a tall order. “Most developed ...
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Blog
SEC Frets Over Split in Revenue Recognition Adoption Efforts
Image: Looking for consistency in application of the new revenue recognition standard, SEC Deputy Chief Accountant Wesley Bricker said companies need to do their homework and apply appropriate professional judgment. Bricker called on companies to move forward with implementation efforts “without delay” by understanding the key principles of the new ...
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Blog
SEC Details Focus Areas for Next Cyber-Security Exams
The SEC will broaden its focus on cyber-security concerns during forthcoming examinations of registered broker-dealers and investment advisers by its Office of Compliance Inspections and Examinations. Among the areas primed for greater scrutiny: governance and risk assessment; access rights and controls; data loss prevention; vendor management; employee training; and incident ...
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Blog
Thoughts on Bridging the Gap From Compliance to ERM
Image: Compliance Week held its latest executive roundtable in Florida last week, to talk about moving from compliance programs to broader enterprise risk management. Inside, editor Matt Kelly has a first recap of what was discussed: how much ERM companies already do, how you can overcome some (not all) of ...
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Blog
New Chief Compliance Officer Joins itBit
Digital currency exchange itBit has apppointed Daniel Alter as the company’s new general counsel and chief compliance officer. Alter joins itBit after stepping down in February from his most recent post as general counsel of the New York State Department of Financial Services. Details inside.
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Resource
Epic Data Fails: How Companies Can Lose 20% of Their Value in 10 Minutes
Data security is paramount, and inadvertent data exposure (either due to malicious intent or human error) can cost companies millions of dollars. Every day, we engage in mundane activities that could be placing sensitive data at risk without our knowledge.Novaworks’ white paper, Epic Data Fails: How Companies Can Lose 20 ...
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Blog
Report Highlights Cybersecurity Risks to Accountants
A lot has been written here and elsewhere about the cybersecurity risks to law firms, but a recent report by ACCA USA highlights another, similarly situated profession that has not received as much attention: accountants.
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Blog
Cooper Standard Appoints VP of Internal Audit and Compliance
Cooper-Standard Holdings, the parent company of Cooper-Standard Automotive, announced this month that it has appointed Peter Brusate to vice president of internal audit and compliance, effective Oct. 12. In this position, Brusate will oversee Cooper Standard's global internal audit and compliance activities. Details inside.