Toward the end of every week, Compliance Week puts a snarky spotlight on individuals, companies, and governments that “Failed It” in the areas of ethics and compliance during the week and gives out kudos to those that “Nailed It.” If we missed any or if you have any nominations for next week, let us know on Twitter (@ComplianceWeek) or in the comments section below.
Nailed It
Securities and Exchange Commission: The U.S. regulator gets a win this week for leveraging internal data analytics tools to identify accounting violations. Interface, a modular carpet manufacturer, and Fulton Financial Corp., a financial services company, were each charged for violations resulting in the improper reporting of quarterly earnings per share. Both companies face hefty penalties: $5 million for Interface, $1.5 million for Fulton. If the SEC now has the ability to wade through the murky waters of accounting painlessly, companies won’t get to enjoy the benefit of hiding under the silt for much longer. —Aly McDevitt
