All Compliance Week articles in Web Issue – Page 726
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Resource
Get Started with your Information Governance Blueprint
The era of Big Data has forever changed our information environment. Data is exploding in both volume and variety, and it is imperative for organizations to understand and have control over all of their information in whatever format it exists. Information governance activities and technologies enable organizations to maximize the ...
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Blog
Braskem Self-Reports FCPA Probe
Brazil-based petrochemical giant Braskem has launched an internal investigation into potential violations of the Foreign Corrupt Practices Act. Braskem said it is investigating allegations that two of its former executive officers made improper payments from 2006 to 2012 to Brazil’s state-owned oil company Petrobras, in exchange for raw-material supply agreements. ...
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Article
The Multimillion Dollar Question: When to Self-Report?
Image: The mantra from regulators when uncovering potential violations of the Foreign Corrupt Practices Act is clear: self-report early and often. Still, companies might want to take a more nuanced approach to that decision, and some legal voices maintain that occasionally shareholders are best served by staying silent. “Right now, ...
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Blog
Applying the Three Lines to Cyber-Security
Managing cyber-security risks is one of the most pressing problems facing businesses today. Absent some technological magic bullet (which won’t be found any time soon), that leaves companies forced to protect cyber-security through better process. What does that mean? How can privacy, compliance, and internal audit band together to lead ...
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Article
Eliminating Cyber-Threats From the IT Supply Chain
Image: The longer a global supply chain grows, the less assurance corporations have in the integrity and security of their products and operations. Now NIST is trying to pierce that fog with new guidance, and compliance officers in the private sector might want to take notice. “Cyber-supply chain risk management ...
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Article
Running in Place or Winning the New Race?
Image: Our GRC Illustrated series returns this week, looking at how compliance programs can keep pace with new ways of communicating within business and with the new employees who use them. That will mean addressing multiple audiences through multiple channels, and it will pose new challenges for policy management, training, ...
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Article
Audit Litigation Risk Down, but Not Out
The respite from litigation that audit firms have enjoyed the past few years may be ending. A recent study found class-action lawsuits alleging accounting improprieties rose in 2014 after two of the lightest years in the past decade. While only a tiny fraction of those class-action filings are directed at ...
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Article
Whistleblower Laws Abroad Remain Weak and Untested
Image: What whistleblower protections exist overseas that are comparable to those under the Sarbanes-Oxley and Dodd-Frank Acts? Compliance Week did a spot-check of major countries, and the results of our round-the-world tour are inside. “There’s no country in the world whose whistleblower protection laws come close to what we’ve developed ...
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Article
Volcker Compliance Deadline Creeps Up
Image: For all the political controversy still surrounding the Volcker Rule, its biggest compliance obligation—implementing new controls and training to root out forbidden trading—has a looming deadline in July. “You’ve got to build an infrastructure,” says David Freeman of the law firm Arnold & Porter. “That’s a bigger effort than ...
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Blog
SEC Ponders Tension Over Management Review Controls
Image: Amid continued tension over what it takes to satisfy auditors and regulators with respect to management review controls, the SEC is pondering whether some kind of new guidance might be in order. Deputy Chief Accountant Brian Croteau said recently, “It’s not an area that seems to be improving. So ...
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Blog
Walmart Touts Compliance Improvements in New Report
In its second annual “Global Compliance Program Report,” Walmart has detailed the compliance enhancements it has made in recent months. Among them: improved compliance training, greater supply chain scrutiny, $40 million invested in new technology, and centralized oversight of license and permit applications. More inside.
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Blog
TI Report Urges Southeast Asia to Make Anti-Corruption a Priority
Leaders of the Association of Southeast Asian Nations are not doing nearly enough to address corruption at the national level, warns a new report by Transparency International. In its report, TI recommended that ASEAN form an ASEAN Integrity Community to fast track anti-corruption policy measures and further recommended four targeted ...
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Blog
Struggles on IT Strategy for Compliance
Image: Compliance officers struggle with IT; that’s not news. This week, however, we have new data that might illuminate why so many compliance departments can’t implement an IT strategy to meet their needs. Inside, Compliance Week editor Matt Kelly looks at which IT typically goes to what compliance tasks, and ...
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Blog
UTC Gets Second Subpoena in Bribery Probe
United Technologies Corp. has disclosed that it received a second subpoena from the SEC for potential violations of anti-bribery laws. UTC said the SEC issued the subpoena “seeking documents related to internal allegations of alleged violations of anti-bribery laws from UTC’s aerospace and commercial businesses, including but not limited ...
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Blog
Lincoln Electric Names Chief Compliance Officer
The Lincoln Electric Company, a subsidiary of Lincoln Electric Holdings, has promoted Anthony Battle to chief compliance officer, effective immediately. This role is in addition to Battle's position as senior vice president of internal audit. Details inside.
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Event
Merger Week: Creating Value Through Strategic Acquisitions and Alliances
Chicago, ILUnited States
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Blog
FASB Proposal May Foreshadow Changes to Cash Flow Rules
A proposal to change the presentation of financial information for not-for-profit entities, especially cash-flow classifications, could be a preview of what public companies might face down the line. The proposal would require entities to classify cash flows in ways more consistent with classifications in the statement of activities. More inside.
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Blog
ArcBest Names Controller, Chief Accounting Officer
ArcBest has named Traci Sowersby as controller and chief accounting officer, effective April 27. She will report to Chief Financial Officer David Cobb. Details inside.
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Blog
SEC Eyes ‘Pay for Performance’ Rules Next Week
The SEC will hold an open meeting April 29 to take action on pay-for-performance disclosure rules required by the Dodd-Frank Act. The Commission will consider rules stemming from Section 953 of Dodd-Frank, requiring public companies to disclose the relationship between executive pay and incentives with the financial performance of the ...