All Compliance Week articles in Web Issue – Page 683
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Blog
So You Want To Be a Board Member
Being a director of a major company is a pretty good gig. It brings prestige, challenge, and financial reward—but also stress, time commitment, and even legal liability. This month, columnist Rick Steinberg talks about how executives (including compliance officers, with a skill set rapidly growing more important) can get invited ...
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Countering the Effects of Unconscious Bias in Audits
Audits go wrong for many reasons, so let’s not deny one of them: because auditors sometimes unconsciously give the benefit of the doubt to a client when they should not. What unconscious biases put effective auditing at risk? How can an auditor train himself to find them, or construct practices ...
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Blog
Arctic Cat Elects New Board Member
Arctic Cat, a company that makes recreational vehicles, has elected Andrew Duff, chairman and CEO of investment bank and asset management firm Piper Jaffray Companies, to its board of directors. He also will serve on Arctic Cat’s audit committee. More inside.
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Blog
Accuity Launches Next Generation Dual-Use Goods Screening Solution
Accuity, a global provider of risk and compliance, payments and know-your-customer solutions, has launched a new screening solution to help companies tackle the emerging requirement to identify dual-use and controlled goods in trade. More inside.
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Article
Global Tax Overhaul Moves Forward
Slowly but surely, developed nations are closing ranks on an international tax agreement intended to crack down global companies parking profits in low-tax jurisdictions. The OECD issued its final recommendations, Base Erosion and Profit Shifting (BEPS) plan, earlier this month, which G-20 countries will then implement locally. Nice idea in ...
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Article
New U.K. Law Introduces U.S.-Style Class Actions
Image: A change in British law is bringing American-style class-action lawsuits in cases where companies violate competition laws—something U.S. companies operating in Britain should keep in mind when implementing strategies to reduce antitrust risks. “It’s anticipated that there will be a lot more litigation in English courts going forward because ...
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Millennium Health to Pay $256 Million to Resolve False Claims Act Case
Millennium Health (formerly Millennium Laboratories) today reached a $256 million settlement with the Justice Department to resolve allegations that it billed for Medicare, Medicaid, and other federal health care programs for medically unnecessary urine drug and genetic testing and for providing free items to physicians who agreed to refer expensive ...
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Tuomey Healthcare System to Pay $72 Million in False Claims Act Case
The Department of Justice announced last week that it has resolved a $237 million judgement against Tuomey Healthcare System to for illegally billing the Medicare program for services referred by physicians with whom the hospital had improper financial relationships. Under the terms of the settlement agreement, the United States will ...
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Blog
ICon Professional Services and Synergy Services Join Forces
In the face of rapid and tremendous change on the horizon for the independent workforce landscape, ICon Professional Services, a provider of contingent workforce management solutions, and Synergy Services, a provider of technology-enabled services for today’s global workforce, today announced that they have combined forces. Details inside.
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Blog
Former Boeing CFO Joins Apple Board
Apple this month announced that James Bell, former chief financial officer and corporate president of The Boeing Company, has been elected to Apple’s board of directors. More inside.
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Blog
SEC's Investor Advocate Slams NYSE Rule Change
For the first time, the Securities and Exchange Commission’s Office of the Investor Advocate is urging the rejection of a rule proposal. The New York Stock Exchange wants to exempt early stage companies from obtaining shareholder approval before selling additional shares to insiders and other related parties. Rick Fleming, the ...
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Blog
Sticky Situation: Ill-Gotten Gains From FCPA Violations
Image: One of the continuing myths around FCPA enforcement is so-called “springing liability,” where a company that acquires a business also acquires a FCPA violation along with the purchase. That is not an accurate understanding of the issue, our anti-corruption blogger Tom Fox writes. But it does touch on issues ...
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Blog
COSO Expects First-Quarter Release of ERM Update Draft
Image: COSO expects to publish a draft of its Enterprise Risk Management Integrated Framework in the first quarter of 2016. First released more than a decade ago, COSO opted to make updates in light of modern business conventions and practices. COSO Chairman Bob Hirth says, “It will be ...
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Blog
Police Raid VW’s French HQ in Search of Critical Data
According to the Telegraph, as part of an ongoing probe into a pollution-cheating scheme, police swept through Volkswagen’s main office in Villers-Cotterets in northern France and another office near Paris on Friday, seizing data devices, documents, and computer hardware. The automatker, which is facing large fines, legal costs,and class-action ...
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Blog
Recall Simplifies Information Governance With CommandIG
Recall Holdings Limited, an information management solutions provider, recently announced the general availability of Recall CommandIG, a secure cloud-based or on-premise information governance solution that enables companies to easily govern paper records and digital information wherever it resides and address the challenges of secure collaboration. More inside.
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Blog
Sevan Marine Self-Reports Bribery Probe
Sevan Marine, a technology and engineering company, announced last week that it has handed over to Norwegian authorities the results of an internal investigation report regarding potential bribes paid to Petrobras to obtain business. Additionally, it has initiated contact with the relevant prosecutors’ offices in the United States, the ...
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Blog
How Audit Committees Really Think About Risk
Image: Enterprise risk management is a hot subject in boardrooms across America these days, with big consequence for corporate compliance and audit professionals. Still, do audit committees have a clear sense of how they want to approach risk and risk management? Compliance Week editor Matt Kelly decided to look at ...