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e-Book: Harnessing the Power of Online Compliance Training
When conduct issues arise in your organization, how prepared are you to respond promptly with relevant, targeted communications? In this e-Book, produced by Compliance Week in cooperation with NAVEX Global, you’ll find five articles addressing the latest trends and developments in online compliance training. Read here.
The botched investigation by the National Football League of the Ray Rice affair and fumbled policy statements and penalties for cases of domestic violence are all providing case studies for compliance departments on how not to handle such sensitive issues. Companies and advisers are using the NFL’s troubles as a teachable moment to stress improving the code of conduct, tone-at-the-top, and other compliance imperatives. More inside.
In a quest for simplification, accounting rulemakers have identified an easier way to measure the current value of inventory when it may be diminishing as products sit in a warehouse. The Financial Accounting Standards Board has proposed a plan to reduce the number of data points companies will have to produce to determine the value that should be reflected on the balance sheet for inventory. More inside.
Justice Department official Marshall Miller gave companies a blunt request in a speech earlier this month: rat out culpable employees or prepare to face the consequences. “If you want full cooperation credit, make your extensive efforts to secure evidence of individual culpability the first thing you talk about when you walk in the door,” he said at a recent conference. The stance is part of a Justice Department strategy to pursue individuals more aggressively.
The Securities and Exchange Commission plans to bring more cases before its in-house administrative law judges, notably insider-trading cases, and has been adding legal staff to accomplish that goal. Securities lawyers fret that the SEC’s standards for discovery, evidence, and process will put them at a disadvantage compared to courtroom hearings. “It is a venue that potentially poses problems for defendants,” says Matthew O’Hara, a partner at law firm Hinshaw & Culbertson.
Developed nations are taking aim at the long-standing practice by many multinational companies of parking profits overseas where they are subject to more favorable tax treatment. To that end, the Organization for Economic Cooperation and Development issued its first set of plans as part of an ambitious global effort by G20 nations to improve consistency and transparency among tax authorities around the world. More details inside.
Supply chain management is becoming much trickier as companies gain an almost uncountable number of business partners. The complexity presented by the number, nature, and structure of these relationships is exacerbated by uncertainty about risks that each may present, which may cause disruption in the supply chain, economic loss, or reputational damage. Our latest installment of the GRC Illustrated series focuses on how to manage that risk.
While there is plenty going on in the audit and accounting world, not all of it makes sense. That is columnist Scott Taub’s take on some recent developments, including new accounting proposals on leases, audit inspection reports, and the hold-up on rules to name the lead audit partner in audit reports. Inside, Taub can’t tell us why these things are happening, but he can tell us why they leave him scratching his head.