All Compliance Week articles in Web Issue – Page 676
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Article
FASB Ideas on Materiality Reform Draw Heat, Questions
Image: An effort to align the accounting world’s definition of materiality with how the idea is widely understood in legal circles is sparking a fierce debate in corporate accounting circles, with potentially big consequences for financial reporting. “More information or more disclosure is better than less, in general,” said Damon ...
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Article
Connected Medical Systems, HIPAA Audits Coming in 2016
Image: Inspectors at the Department of Health & Human Services are going to spend 2016 studying the security protocols for medical devices and electronic health records, which means compliance officers in the healthcare field should make sure your policies and controls can pass muster. Also on deck are more HIPAA ...
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Blog
What Went So Wrong at VW
The full consequences of Volkswagen’s “emissions evasion” scandal are just starting to be understood. The governance failures that led to the misconduct, however, are not new. Pressure from the chief executive, ineffective directors, a workforce that does not take compliance seriously; we have heard all that before. This week, columnist ...
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Blog
Aguilar to Depart SEC by End of December 2015
Image: SEC Commissioner Luis Aguilar intends to step down at the end of December. In a letter to the president, Aguilar expressed pride in sponsoring the first Investor Advisory Committee, which was later mandated by Section 911 of Dodd-Frank. Aguilar will leave the SEC as the eighth longest-serving commissioner ...
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Article
SEC’s Next Move on Conflict Minerals Rule Could Open a Pandora’s Box
The SEC finds itself yet again at a legal crossroads concerning its embattled Conflict Minerals Rule. One path leads to the Supreme Court; the other, a retreat from a cornerstone of the rule’s disclosure requirements. At stake is not just the Conflict Minerals Rule alone, but potentially a wide range ...
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Blog
MDU Resources Names New General Counsel
MDU Resources Group, a diversified energy company, has named Daniel Kuntz as general counsel and secretary, effective Jan. 9. He will succeed Paul Sandness, who is retiring Jan. 8. Details inside.
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Blog
Narrative Science Launches Quill for Anti-Money Laundering
Narrative Science, a provider of advanced natural language generation for the enterprise, announced the launch of Quill for Anti-Money Laundering (AML). Quill for AML automates many of the manual processes related to regulatory reporting and compliance documentation by generating natural language reports that are consistent and traceable back to the ...
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Blog
36th Street Capital Names Chief Risk Officer
36th Street Capital, an independent provider of flexible financing solutions for the equipment financing industry, has appointed Gerard Kammerer as chief risk officer effective immediately. Details inside.
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Blog
Hall & Company CPAs Appoints Director of Audit Services
Hall & Company CPAs has named C. Wendell Daniel as director of audit services. Daniel joins the tax, accounting and business consulting firm with a broad range of audit and accounting expertise, including in the areas of mergers and acquisitions, IPOs, succession/exit planning, capital and debt raise transactions, and attestation ...
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Blog
Netwrix Auditor Upgraded to Support Security Investigations
Netwrix, a provider of IT auditing software that delivers complete visibility into IT infrastructure changes and data access, has announced the release of Netwrix Auditor 7.1. The new version simplifies investigation of past incidents and provides a complete audit trail for compliance audits. It also supports NetApp Clustered Data ONTAP ...
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Blog
On Advertising and the FCPA
Image: When can advertising violate the FCPA? That might not be a question often on the minds of compliance officers. The ongoing FIFA corruption scandal, however, demonstrates that any expenditure going out of a corporation may well need to be considered from an anti-bribery angle. Tom Fox, our Man From ...
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Blog
Compliance Officers Increasingly Worry About Personal Liability
A survey conducted by Thomson Reuters finds that most risk and compliance professionals at financial services companies around the world expect their personal liability to increase. The report also found that an apparent lack of oversight or awareness from senior managers exacerbates the regulatory focus on accountability. More survey results ...
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Blog
Haskell & White Hires Senior Audit Manager
Haskell & White, an accounting, auditing and tax consulting firms, has hired Hogi Kurniawan as a senior manager in the audit and business advisory services department. Details inside.
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Blog
Alstom Sentenced to Pay $772 Million FCPA Fine
U.S. District Judge Janet Bond Arterton of the District of Connecticut has sentenced French power and transportation giant Alstom to pay a record $772 million criminal penalty to the Department of Justice to resolve charges over violations of the Foreign Corrupt Practices Act. The sentence marks the largest criminal fine ...
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Blog
Fed to Bank of Nova Scotia: Fix AML Controls
The U.S. Federal Reserve and the New York Department of Financial Services in an enforcement action this week ordered the Bank of Nova Scotia and its New York agency to significantly improve its anti-money laundering operations. The bank and the branch have 60 days to jointly submit a written enhanced ...
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Blog
FASB Sets Dates for Financial Instruments Standards
In addition to finalizing and setting a 2019 effective date for a new standard on leasing accounting, FASB has wrapped up its long-running work on changes to the way companies will classify and measure financial instruments and has directed its staff to prepare the final language of the Accounting Standards ...