All Compliance Week articles in Web Issue – Page 694
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Article
Lessons From HSBC’s Size, Compliance Struggles
For nearly three years, HSBC Holdings, a grande dame of international banking, has come under fire for a litany of regulatory problems and compliance failures: money laundering, sanctions, violations, and abetting tax evasion to name just a few. How does a good bank fall into such dire straits? The problem, ...
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Blog
Willis Lease Finance Adds New Board Member
Willis Lease Finance, an independent jet engine lessor in the commercial finance sector, has elected Robert Keady to its board of directors, effective immediately. Keady also will serve on the compensation and audit committees. Details inside.
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Article
Gap Analysis: C-Suite Struggling to Define Risks
Image: Despite consensus that risk is a big deal—something companies should manage aggressively—recent academic research suggests that boardroom leaders focus on vastly different risks than compliance, audit, and risk executives do. “I wonder if there is a lack of understanding of the views of risk across the management team,” says ...
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Article
Internal Controls, Audit Committees Primed for SEC Scrutiny
Every February SEC officials convene at the Practising Law Institute’s “SEC Speaks” conference, where commissioners can break news and staff can detail priorities for the New Year. The focus this year, from rulemaking to enforcement, was on financial reporting internal controls, and ways to improve audit committees. And, of course, ...
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Blog
Akamai Self-Reports FCPA Probe
Akamai Technologies disclosed in its annual report with the SEC that it is conducting an internal investigation related to potential violations of the Foreign Corrupt Practices Act. The cloud services provider said it voluntarily reported the internal investigation to the SEC and Department of Justice last month. Details inside.
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Blog
Latest GRC Survey Shows Disconnect on Risk
Yet more findings—these from Grant Thornton—reveal that audit committees and chief audit executives differ on priorities. According to the survey, audit committees rank financial risk as most important for internal audit, followed by compliance, operational, and strategic risks. CAEs, however, give compliance risk top billing, followed by operational, financial, and ...
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Article
Insurers Feel Fresh Heat on Cyber-Security Practices
Image: New York plan to bolster cyber-security oversight in the insurance sector, including regular, targeted assessments of cyber-security as part of its exam process. “Recent cyber-security breaches should serve as a stern wake-up call for insurers and other financial institutions to strengthen their cyber-defenses,” said New York Department of Financial ...
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Blog
Amber Road Acquires ecVision
Amber Road, a provider of global trade management solutions, has acquired ecVision, a cloud-based provider of global sourcing and collaborative supply chain solutions. “This acquisition delivers value for Amber Road customers by providing new global supply chain capabilities to increase product innovation while balancing product compliance risks and costs ...
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Article
Canada Gets Serious on Enforcement
Canadian securities regulators for the first time are proposing a whistleblower rewards program, modeled after the SEC’s program created by the Dodd-Frank Act. The proposed initiative is the latest move by Canadian authorities toward a U.S.-style enforcement regime—and in some instances an even harsher one. “Canadian enforcement is going to ...
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Article
Kaiser Permanente’s Approach to Case Management
Effective case management is crucial to a compliance program, but developing a process—flexible enough to juggle different types of issues, systematic enough to resolve cases in a timely manner—is the tricky part. This week in a guest column, Marita Janiga, director of the National Special Investigations Unit and the Compliance ...
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Blog
AECOM Names General Counsel
Engineering design company AECOM has appointed Carla Christofferson as general counsel. In this role, Christofferson will oversee all aspects of AECOM’s global legal function, including risk management. Details inside.
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Blog
ADP SmartCompliance Helps Simplify Human Capital Management Compliance
ADP, a provider of human capital management solutions, today revealed new enhancements to ADP SmartCompliance, a cloud-based platform of outsourced services that helps employers better manage HCM-related compliance requirements. ADP revealed these new enhancements the same day that it released a new study, in collaboration with CFO Research, which found ...
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Blog
$500,000 SEC Whistleblower Award to Corporate Officer
The SEC announced today that it issued a sizable whistleblower award to a former corporate officer. The SEC stated that while corporate officers and directors are typically not eligible under the Dodd-Frank whistleblower statute to receive awards, the statute carves out an exception if an officer reports information concerning misconduct ...
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Blog
Survey: Disparate IT Systems Increase Compliance Costs
Many companies still rely on disparate systems and manual processes to manage their human capital management-related compliance, which in turn is putting a drain on company resources, according to a new survey released today by CFO Research and ADP, an HCM solutions provider. Details on the survey results inside.
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Resource
Compliance Week Audit Information Survey
Download the results from Compliance Week’s survey of chief compliance officers and chief audit executives, asking them what information they present to the audit committee about audit firm engagements.
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Blog
What You Tell the Audit Committee About Auditors
Image: You might have forgotten, but once upon a time a company’s audit committee was primarily responsible for—get this—the annual audit. Compliance Week recently surveyed compliance and audit executives to ask: What information do you bring to the audit committee when reviewing the performance of your audit firm? Inside, Editor ...
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Blog
Human Trafficking Rules Now in Effect for Government Contractors
On March 2, new reporting requirements related to human trafficking went into effect for nearly 300,000 government contractors. Those performing work exceeding $500,000 outside the United States must develop and maintain a trafficking compliance plan and certify that, to the best of their knowledge, neither they nor any sub-contractors engage ...
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Blog
New Perspective Senior Living Names Chief Compliance Officer
New Perspective Senior Living, which operates and develops senior living communities throughout the Midwest, has appointed Lore Brownson as chief compliance officer. In this role, she will be responsible for ongoing development and oversight of the company’s corporate compliance program. Details inside.
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Blog
Incentive and Technossus Join Forces
Incentive, an enterprise collaboration platform provider, has formed a strategic partnership with Technossus, a technology consulting and software solutions provider. This partnership enables small to mid-sized businesses to easily identify and integrate software and consulting services that enhance business operations, internal collaboration, and information sharing. Details inside.