All Compliance Week articles in Web Issue – Page 668
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Blog
SEC's Pinterest Page Highlights Achievements of Women SEC Officials
The SEC has found another interesting use for its "Pinterest" page. It recently created a Women's History Month board on the popular social media site to help gather information and photos, and celebrate the achievements of many of the most influential women employees in in its history.
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Blog
Audit Committees Get Fresh Tips on Evaluating Auditors
Image: The Audit Committee Collaboration, backed by seven groups with various missions around corporate governance and investor advocacy, has updated its External Auditor Assessment Tool, tips to help audit committees conduct their evaluation of external auditors. Cindy Fornelli, executive director of the Center for Audit Quality, says the tool “can ...
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Blog
Worldwide Express Names Chief Compliance Officer
Worldwide Express, a global logistics franchisor, has named Richard Kolman as general counsel and chief compliance officer. In this capacity, Kolman manages the legal and franchise compliance departments, including overseeing network compliance with system standards. Details inside.
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Blog
Sen. Warren is Triply 'Disappointed' in SEC Chair White
Sen. Elizabeth Warren would like SEC Chair Mary Jo White to know that Sen. Warren is disappointed in her. In a 13-page letter this week, Sen. Warren expressed this very sentiment repeatedly, prompting Chair White and others to defend her leadership of the agency and its accomplishments.
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Blog
Report: Non-U.S. Bribery Actions Doubled Since 2012
A new report released by anti-bribery group TRACE International shows that while the United States still sets the pace for cracking down on bribery, non-U.S. enforcement actions have more than doubled since 2012, and in 2014 total non-U.S. enforcement actions concerning bribery of foreign officials outnumbered U.S. enforcement actions. Details ...
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Blog
Google’s Antitrust Investigation Continues
Image: The European Union Competition Commissioner Margrethe Vestager confirmed that the watchdog is continuing its investigation into Google for allegedly engaging in anti-competitive behavior. In an interview with BBC, Vestager said that more probes are ongoing into the tech giant’s role in mapping, travel, flight, and third-party data. Details inside.
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Blog
SFO Loses Corruption Trial Against Three
Three men charged with bribery offenses by Britain’s Serious Fraud Office were acquitted last week, after the jury was unable to reach a verdict on one count against the third defendant and was discharged. The SFO had charged the trio, former employees of Swift Technical Solutions, for paying bribes to ...
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Blog
Deloitte Inspection Report Shows Reduced Audit Deficiencies
PCAOB audit inspectors found fault with 21 percent of the audits inspected at Deloitte in 2014, lower than any rate delivered for any major firm since 2009 and lower than Deloitte’s failure rate from one year ago. The report also revealed a new format for PCAOB inspection reports. More inside.
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Article
CCOs Need to Be Schooled on Effective Training
Compliance and ethics training needs to move beyond the standard training video and PC-based testing. While online tests are an adequate exercise in rote memorization, experts say the future of effective training means understanding the unique psychologies of the workforce and managers, customizing your messages, and shaping training objectives around ...
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Blog
Survey: Shareholder Pressure Prompts Boards to Rethink Compensation
Nearly 60 percent of companies say their boards expanded compensation explanations in proxy statements as a result of shareholder feedback, and almost one-third of those boards changed executive compensation plans outright in response to pressure from investors. Those findings come from the National Association of Corporate Directors and respondents to ...
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Blog
Warren: SEC Chair’s Tenure ‘Extremely Dissapointing’
Image: Sen. Elizabeth Warren, (D-Mass.), at left, fired with both barrels at SEC Chairman Mary Jo White this week, in a blistering 13-page letter describing White’s tenure as “extremely disappointing” and full of “broken promises.” Among Warren’s concerns: the lack of a final pay-ratio rule and the dearth of guilt ...
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Blog
AccelOps Enhances Its Integrated IT Security Platform
AccelOps today announced new enhancements to its integrated IT security and operational intelligence platform that enables IT to rapidly detect, prevent, and respond to malicious attacks. Details inside.
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Article
FSOC Report Offers Tea Leaves for Future Regulatory Focus
What are the top threats to the U.S. financial system? In a new report, the Financial Stability Oversight Council cites cyber-security, financial innovations, and high-frequency trading among the problems regulators must address. Critics fret, however, that the agency wants “to get rid of the capital markets and replace everything with ...
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Article
Lessons From the BHP Billiton Case
Image: If compliance officers needed another reminder that the FCPA’s books-and-records provisions are still a dangerous trap for global businesses, look no further than the SEC’s recent $25 million fine against BHP Billiton. Observers say it offers valuable lessons in the SEC’s expansive interpretation of the law. “A check-the-box compliance ...
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Resource
Fortune 100 Compliance Report
Marketing teams are continuing to increase investments in social media as they see continued success from this new channel of communication. The average Fortune 100 firm has over 320 branded social accounts, with over 200,000 followers and 1,500 employee participants—creating a complex compliance landscape with a flood of messages from ...
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Article
Fighting Complexity With Integrated Compliance Efforts
More than ever before, managing compliance risk now requires a framework that unifies decentralized compliance activities. The goal: to streamline monitoring, testing, and reporting. That may sound difficult in theory—and, well, it’s difficult in practice too. Inside we have tales from Coca-Cola and Kimberly-Clark on how they try to integrate ...
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Article
More Hints at More Audit Committee Disclosure
Image: The SEC plans a concept release “soon” that could modernize audit committee disclosures for the first time in years, including touchy subjects like naming the audit engagement partner. Expect awkward questions to follow about how audit firms are hired and perform the work they do. “This foreshadows what I ...
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Article
Resolving Compliance and HR Turf Wars
Image: Compliance and HR have been tussling for years over which function owns company culture, when the truth is both have a crucial role to play. “If HR and compliance could come together and realize and accept that they’re on the same team … it could be a really powerful ...
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Blog
Four Lessons, and One Basic Rule, From the DuPont Battle
The high drama of this year’s proxy season happened in May, when DuPont thwarted a boardroom takeover pushed by hedge fund guru Nelson Peltz and his Trian Partners fund. How? This week, columnists Stephen Davis and Jon Lukomnik critique the basic strategy Trian used and the counter-offensive DuPont skillfully employed ...