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Withdrawal of past guidance signals a contentious start to SEC’s proxy process review
Critics of proxy advisory firms are cheering the withdrawal of 2004 no-action letters that they say empowered and entrenched the firms.
Survey says you’re likely shopping for new compliance technology
Here’s what we know: You have a mandate to upgrade your compliance technology, at least some budget to do it, and sky-high expectations for improved operational efficiency and robust data reporting. At least that’s what the results of our compliance technology survey tell us. Are we close?
Hidden ownership in high-end real estate
This latest installment of the Compliance Week/OCEG GRC Illustrated series explores how fraudsters are using high-end real estate to launder money.
FASB gives final word on how to account for cloud costs
Unraveling an accounting simplification, companies are returning to an older way to account for software costs associated with certain cloud computing arrangements.
SEC will watch for SAB 74 disclosure leading to CECL
The SEC will be looking for increasingly detailed disclosures to investors about the expected effects of moving to a new method for recognizing credit losses.
No easy answers for breaking up Big Four in U.K.
The last time the U.K.’s Competition and Markets Authority attempted to break up what is widely referred to as an oligopoly of the audit market by the Big Four audit firms—EY, PwC, Deloitte and KPMG—its actions had the opposite effect.
Deutsche Bank latest to come under fire for lax AML controls
Deutsche Bank has become the fourth bank in the past month to get into regulatory trouble for having lax anti-money laundering controls in place, joining Danske Bank, ING, and Credit Suisse.
As FinTech support grows, can Congress keep from hitting the brakes?
As it so often is in the world of financial services, FinTech evangelists want rule streamlining and deregulation. Is that the right approach?
SEC’s Jackson criticizes stock exchanges, promises reforms
The time has come to reform America’s stock markets. That was the message from SEC Commissioner Robert Jackson during a speech this week at George Mason University, where he laid out potential changes.
Tax functions need high-tech tools, KPMG outlook says
Tax departments need to tool up to be ready for the kinds of tax planning that will occur in the coming 12 months, especially under tax reform, survey says.
Compliance measures for reducing export-corruption risk
A recent study from corruption watchdog Transparency International rates countries on their enforcement processes, or lack thereof, under the OECD Anti-Bribery Convention.
Danske Bank CEO quits over money laundering failures
The chief executive of Denmark’s biggest financial institution has resigned following the publication of a report that highlights large-scale money laundering in the bank’s Estonian operations.
Public sounds off to SEC on proposed whistleblower changes
As part of a public comment process that reached its deadline on Sept. 15, the SEC has collected ideas and opinions on proposed changes to its whistleblower program. We took a look at some of the responses.
Confidence in auditors tapers in 2018, poll says
Investor confidence in auditors and in capital markets in general fell in 2018, according to the annual poll by the Center for Audit Quality.
Report calls out gender disparity among engagement partners
As audit firms disclose who performs public company audits, gender diversity is emerging as the first major concern regarding audit engagement leadership.