All Compliance Week articles in Web Issue – Page 730
-
Blog
Audits Failures Linked to Execution, Not Process Problems
Image: Dec. 10—Audits fail not so often because the audit firm’s process was flawed, but because individual auditors or engagement teams fail to adhere to firm methodologies, according to Jay Hanson, a member of the PCAOB. At a national accounting conference on regulatory issues, Hanson said he sees much more ...
-
Blog
Fed Seeks New Capital Requirements for Biggest Banks
Image: Dec. 9—The Federal Reserve is proposing a new risk-based capital surcharge for the most systemically important firms. The proposed rule would implement a new methodology for determining “global systemically important” banks and increase mandated capital conservation buffers by as much as 4 percent. The proposal establishes five broad categories ...
-
Article
In 2015, ACA Compliance Will Be an Even Greater Challenge
Image: The Affordable Care Act may be a familiar headache for corporate compliance officers, but even the best-prepared companies can expect fresh pain in 2015. “There are going to be many that find themselves in at least technical non-compliance,” says John Haslinger of ADP. “They thought they understood it, but ...
-
Article
Due Diligence Practices in Emerging Markets
Compliance officers wondering how their peers manage third-party risks and where they focus due diligence efforts these days will want to take a look at a new report on those practices. Enhanced due diligence firm Arachnys studied where large companies perform due diligence research, and offered a peek at the ...
-
Blog
LRN Names President of Ethics and Compliance Solutions
LRN, a firm that helps organizations meet their compliance obligations, shape ethical behavior, and strengthen culture and leadership, announced today the hiring of Jean-Marc Levy, most recently head of global issuer services at the New York Stock Exchange, as president of ethics and compliance solutions. He also will serve on ...
-
Blog
ZL Technologies Partners With Socialware
ZL Technologies, a unified information governance provider, has formed a strategic partnership with Socialware, a social media compliance and marketing platform for regulated industries. The partnership combines the consolidated data management of the ZL Unified Archive with Socialware’s social media access and policy enforcement solutions for social media users in ...
-
Blog
Halliburton Establishes Integration Leadership Team
Halliburton has appointed Charlie Geer, currently vice president of finance, as corporate controller, effective Jan. 1, 2015. The move is part of an overall integration plan, following the acquisition of Baker Hughes in November. Details inside.
-
Blog
FASB Studies Three Revenue Issues for Possible New Guidance
Image: Financial Accounting Standards Board Chairman Russ Golden has authorized FASB staff to conduct research on (1) how to apply the new revenue recognition standard to licensing agreements; (2) when revenue should be recognized on a gross versus net basis; and (3) how to determine performance obligations. The research should ...
-
Blog
Justice Department Launches New Digital Services
The Department of Justice today announced the launch of two new digital services: the News API and the Law Jobs API. These new Web application programming interfaces add search, sort, and filter capabilities to thousands of Supreme Court briefs, legal opinions, Freedom of Information Act court decisions, Congressional testimony, and ...
-
Blog
Hearsay Social Launches New Social Media Compliance Capabilities
Hearsay Social, a social business platform provider for the financial services industry, this week launched new capabilities for its Compliance Solution, providing improved efficiency and control for compliance teams and the financial professionals whom they supervise. Details inside.
-
Blog
'Laws of the Land' Finally Catching Up to Former Satyam CEO, Part II
In July 2014, I noted here that although it had taken over five years, the wheels of justice were finally in motion against B. Ramalinga Raju, former chairman and CEO of Satyam Computer Services, as India's securities regulator had ordered Raju, his brother, and two others to disgorge $307 million. ...
-
Blog
Metrics Misused: The Executive Pay Example
The complaint is a common one in governance circles: everyone talks about the importance of long-term value, and then follows the market’s mantra for short-term results. Why? Executive compensation tied to the wrong metrics doesn’t help. Inside, Compliance Week columnists Stephen Davis and Jon Lukomnik pick apart the fallacy of ...
-
Article
Netflix Lawsuit a Lesson in Proper Internal Controls
Netflix is suing a former IT executive, alleging the man created a kickback scheme that netted him more than $500,000 as he executed contracts and approved invoices through sham arrangements with two vendors. Painful for Netflix, yes, but we have key lessons in segregation of duties and internal control worth ...
-
Blog
Verizon Names New General Counsel
Verizon Communications has named Craig Silliman, currently senior vice president of public policy, to executive vice president of public policy and general counsel. Effective Jan. 1, 2015, he will succeed Randal Milch, who has been appointed to a new position as strategic policy adviser to Lowell McAdam, Verizon’s chairman and ...
-
Blog
Brinker International Names General Counsel, Corporate Secretary
Brinker International, a casual dining restaurant company, has named Scarlett May as general counsel and secretary of the company, effective Dec. 15, 2014. Details inside.
-
Article
Seasonal Employees Can Bring Not-So-Merry Risks
Image: For any company that depends on seasonal workers, don’t overlook the need to give that group compliance training. Even temporary workers need to review the Code of Conduct and have access to the reporting hotline. “There are no exemptions in what constitutes an effective compliance program ... for short-term ...
-
Article
Frameworks and Leadership on Cyber-Risks
As cyber-security attacks become everyday news, companies are racing to identify and mitigate their risks. Some of that is “pure” IT security; much of it is about applying a control framework smartly to new technologies—and empowering the right person to oversee these risks. “Companies ... for the most part are ...