Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.
Revenue 2.0: Work continues to adapt to new rules
Even after calendar-yer companies have filed their first-quarter reports reflecting a new way to recognize revenue, work continues to adapt to the new rules.
CECL readiness spans the full spectrum, new poll shows
Banks appear all over the spectrum in terms of their readiness for CECL, with equal numbers implementing the new model or still in the early stages, a new poll says.
SEC modernizes rules on employee stock compensation
The SEC on Wednesday issued final rules that would raise the threshold for the enhanced disclosure requirement under Securities Act Rule 701, which allows companies to more easily pay their employees in stock.
New U.K. rules broaden accountability of senior managers
Britain’s financial services industry is bracing for new rules that will significantly broaden the scope of senior executives who will be personally held to account to U.K. regulators for failures that occur under their watch.
SEC adopts rules to enhance oversight of Alternative Trading Systems
With the intent of significantly enhancing operational transparency and regulatory oversight, the Securities and Exchange Commission on July 18 voted to adopt amendments to the regulatory requirements governing alternative trading systems, commonly known as “dark pools.”
FASB approves tweaks to lease accounting standard
The Financial Accounting Standards Board has finalized a number of improvements to its new guidance on lease accounting, which public companies are working to adopt in 2019.
Google fined $5 billion for breaching EU antitrust rules
The European Commission has fined Google €4.34 billion (U.S. $5.05 billion) for breaching EU antitrust rules.
Big 4 fill gap in GAAP on accounting for digital currency
With no explicit guidance in GAAP on how to account for business done in digital currency, Big 4 firms are starting to arrive at conclusions of their own.
U.K. businesses poke holes in Brexit plan
The U.K. government’s blueprint on how it thinks Brexit should pan out was hardly going to please everyone, and in that regard it has lived up to expectations.
Companies plan to automate internal controls, poll says
Companies are migrating toward automating their internal control over financial reporting, according to a recent survey by Financial Executives Research Foundation.
SEC charges BGC Financial for failure to maintain accurate books and records
New York-based broker-dealer BGC Financial has agreed to pay a $1.25 million penalty to settle charges that it failed to preserve audio files sought by the SEC and inaccurately recorded travel, entertainment, and other expenses.
SEC charges former Energy XXI CEO with hiding personal loans
The SEC charged the former CEO of Energy XXI with hiding more than $10 million in personal loans that he obtained from company vendors and a candidate for Energy XXI’s board.
Senate Democrats demand that CFPB reinstate advisory board
A coalition of Senate Democrats is demanding that Office of Management and Budget Director Mick Mulvaney, who also heads the CFPB, detail how the latter agency will reassemble its recently disbanded Consumer Advisory Board.
Revised U.K. governance code gives workers more of a voice
The U.K.’s corporate governance regulator on Monday announced a series of changes to improve public trust in large companies following criticism that boards are still too interested in fat-cat pay deals and short-term goals, and investors are too sleepy or timid to exert proper influence.
New standard triples revenue disclosures, Deloitte finds
Public companies are roughly tripling their revenue-related disclosures to comply with the new revenue recognition standard, according to a new analysis.