Articles | Compliance Week – Page 155
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ArticleTwo former Penn West execs settle accounting fraud charges with SEC
The former CFO and former VP of accounting and reporting at Penn West Petroleum have settled SEC charges for their role in an accounting fraud scheme that spanned several years.
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ArticleAnalysis: Luckin Coffee saga a case of déjà vu?
Financial crime expert Martin Woods ponders how the SEC can ensure foreign companies, like China-based Luckin Coffee, that publicly trade in the U.S. can apply the proper standards of compliance, financial reporting, and even whistleblower protections.
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ArticleFASB Q&A tackles coronavirus effect on hedge accounting
FASB staff issued a question-and-answer document to address uncertainty about the effects of the coronavirus pandemic on cash flow hedge accounting under Accounting Standards Codification Topic 815.
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ICA, ICTTF partner on new cyber-risk offering
The International Compliance Association announced it has partnered with the International Cyber Threat Task Force to offer a new program in cyber-risk management.
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ArticleSix steps to emerging from coronavirus with a strengthened compliance program
One day—maybe in the not-too-distant future—we will emerge from the coronavirus pandemic to some semblance of normalcy, a “normal” likely different from the one we left a few months ago. How do we best prepare for this next chapter?
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ArticleFive tips when moving from the second line of defense to the first
The Three Lines of Defense model is an important one for managing risks within a business. For someone working in the second line to find themselves moving on to the first line can be a daunting experience.
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ArticleSEC hands out second top-10 whistleblower award this month
The Securities and Exchange Commission announced the award of $18 million to a whistleblower, continuing a two-month surge in payouts by the agency that has now seen two of its largest bounties to date.
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ArticleMnuchin rips Lakers, fumes over public companies receiving coronavirus loans
Reacting to news the NBA’s Los Angeles Lakers received a coronavirus aid loan meant for small businesses, U.S. Treasury Sec. Steven Mnuchin said Tuesday all such loans over $2 million will be audited and some companies could face criminal liability.
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ArticlePraxsyn’s apparent COVID-19 investment scam points to broader trend
The SEC announced charges against Praxsyn and its CEO for lying about acquiring and being able to supply millions of N95 masks, joining a long list of other companies alleged to have participated in COVID-19 investment scams.
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ArticleBest practices for maintaining a healthy incident-response program
NAVEX Global’s annual “Risk & Compliance Hotline Benchmark Report” provides chief ethics and compliance officers with best practices on how the performance of their hotline and incident-management programs stack up against their peers.
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ArticleDevelopment bank bans Brazilian company for paying kickbacks
A Brazilian construction company that paid nearly $50 million in kickbacks has been banned from participating in Inter-American Development Bank-funded projects for more than two years.
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ArticleAnalysis: A case study on why following steps on ABC compliance is so important
If there is an A-Z compliance procedure to follow, don’t stop at X or miss out LMN. Adhere to the procedure and preserve the integrity of your firm and those honest people who work within the rules.
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ArticleCAQ exec: How audit must adapt amid coronavirus challenges
Julie Bell Lindsay, executive director of the Center for Audit Quality, shares her perspectives on how public company auditors are coping with new challenges from the coronavirus pandemic.
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ArticleHouse Democrats call EPA enforcement pause ‘threat to public health’
House Democrats are concerned that a temporary rollback of some environmental regulations will give companies “an open license to pollute” and have requested the EPA provide a briefing on its decisions next month.
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ArticleThird parties & coronavirus: Advice for traversing web of interconnected risks
The coronavirus pandemic has created a sea of red flags in every company’s supply chain. When each alert indicates a possible disruption, which ones do you act on?
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ArticleDo ethics truly pay? PPP fiasco may tell us
Just because a company can qualify for a government coronavirus aid loan doesn’t mean it should accept one—it could mean the difference between a successful brand and an unethical countenance.
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ArticlePreparing for post-pandemic turbulence, Boeing combines legal, compliance
Boeing announced several leadership and organizational changes, to take effect May 1, as the airline industry braces for post-pandemic turbulence.
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ArticleFour ways to maximize your virtual learning experience
By now many of us have adapted to the new “normal,” but this time also provides an ideal opportunity to boost your knowledge, expand your skills, and bolster your future career opportunities.
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First Abu Dhabi Bank names risk officer successor
First Abu Dhabi Bank, the United Arab Emirates’ largest bank, has nominated Pradeep Rana to succeed Arif Shaikh as group chief risk officer.
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Harvest Partners hires CCO, general counsel
Harvest Partners, a New York-based private equity investment firm, announced the addition of Jamie Toothman as general counsel and chief compliance officer.