All Compliance Week articles in Web Issue – Page 668
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Blog
IT Audit Executives Struggle With Pace of Change, Survey Shows
Image: Rapid innovation, disruption, and growth in cyber-security risks are the biggest technology challenges for IT auditors, a survey from ISACA and Protiviti says. Managing Director David Brand says, “IT audit professionals have recognized the need to grow their knowledge and expertise while also updating their policies, processes, people, and ...
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Grand Opening: Photo Wing of the Enforcement Action Art Gallery!
In September 2015, I was motivated by an awesome drawing of the five SEC commissioners reimagined as WWE wrestlers to launch the Enforcement Action Art Gallery. It occurs to me, however, that there are many photographs that need to be preserved, as well. Welcome to the new Photo Wing!
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Hitachi Settles Case With African Development Bank
The African Development Bank Group (AfDB) announced this week that it reached a settlement agreement with Japan-based Hitachi. The African Development Bank (AfDB) Integrity and Anti-Corruption Department alleged that Germany-based Hitachi Power Europe, and its South African subsidiary, Hitachi Power Africa, engaged in sanctionable practices in exchange for a boiler ...
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Blog
SFO: Sweett Group Admits to Bribery
The U.K. Serious Fraud Office this week confirmed that Sweett Group, a British property management, construction and surveying company, admitted to violating the Bribery Act, regarding conduct in the Middle East. The resolution would mark the SFO’s first conviction since enactment of the Bribery Act in 2011. More inside.
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Lincoln Financial Group Names General Counsel
Lincoln Financial Group has named Kirkland Hicks as general counsel, effective Dec. 10, 2015. In this role, Hicks will oversee all activities for the law, compliance, government relations, and corporate secretary functions of the company, as well as provide strategic counsel to the CEO and senior management team. Details inside.
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FreightCar America Names General Counsel and Corporate Secretary
FreightCar America, a manufacturer of freight cars for the railway industry, has named Georgia Vlamis as general counsel and corporate secretary, effective as of Dec. 1. In her role, Vlamis serves as a key member of the company’s leadership team, with responsibility for all aspects of the company’s legal affairs. ...
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GfK Names General Counsel for the Americas
Research company GfK has appointed Anna Maria Vitek as senior vice president and general counsel for the Americas. Vitek joins GfK from Avon Products, where she was general counsel and chief compliance officer, Latin America. Details inside.
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Blog
SynerMed Names Chief Compliance Officer
SynerMed, a healthcare platform provider for government-sponsored healthcare programs, has named Renée Delphin-Rodriguez as general counsel and chief compliance officer. Reporting to the Chief Executive Officer James Mason and the board of directors, she will oversee the company’s legal, regulatory affairs and compliance functions. Details inside.
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Ollie's Appoints Chief Accounting Officer
Ollie's Bargain Outlet Holdings has hired Jay Stasz as senior vice president of finance and chief accounting officer. In this capacity, Stasz will report to Executive Vice President and Chief Financial Officer John Swygert.
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Blog
The Press and Exposure of Corruption: BAT Is Next
Allegations of bribery can come to light in many ways, but one way not usually mentioned—that was prominently featured last week—is through news reports. This time the media outlet was the BBC, and the allegations were that bribery at British American Tobacco Co. had occurred in violation of the Bribery ...
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Blog
SEC Charges Grant Thornton, Two Partners
The SEC delivered a heavy blow to Grant Thornton and two of its engagement partners last week with charges they ignored red flags and fraud risks at two public companies that ultimately faced enforcement actions of their own. Grant Thornton agreed to a penalty of $3 million, forfeited $1.5 million ...
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Blog
PwC Reports on Efforts to Raise Audit Quality
Image: PwC has issued a report to answer questions about what it is doing to better address regulatory demands for better audits. The company is investing in technology, developing talent, and adjusting its audit approach to meet rising expectations. “We understand the importance of maintaining our focus on delivering quality, ...
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Blog
Signs of Life for SFO, Enforcement of Bribery Act 2010
This week has seen a trio of significant "firsts" from the UK's Serious Fraud Office, including its first-ever Deferred Prosecution Agreement and two cases brought under section 7 of the Bribery Act 2010.
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Report: Whistleblowing Seen as “Disrespecting Authority” in Latin America
Latin America remains a hot spot for investors from every industry and markets around the world. But corruption in this region continues to run rampant and creates greater compliance risk for multinationals doing business in Latin America. According to a recent report, the top seven compliance risks for companies ...