As the coronavirus worldwide pandemic spreads, the ramifications for any business has gone from temporary disruption to a serious impediment. Here are 10 steps your company can take to mitigate its risks.
Aaron Nicodemus
Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass.
Email: aaron.nicodemus@complianceweek.com
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Posted inInternal Controls
Employees working from home to avoid coronavirus? Protect your data
With the coronavirus threat having moved on from disrupting your business’s supply chain to threatening your employees’ health at home, now is the time to implement that company-wide remote workplace plan.
Posted inEthics & Culture
Wells Fargo CEO says bank’s past behavior ‘deeply disturbing,’ vows change
Wells Fargo CEO Charlie Scharf, who has led the scandal-plagued megabank for four months, was upfront about the bank’s failure to stem abuses in its banking, lending, and auto insurance divisions when he testified at a Congressional hearing Tuesday.
Posted inInternal Controls
Coronavirus’ negative effect on global shipping could last weeks, or months
Companies wondering how to handle risks the worldwide coronavirus outbreak will have on global supply chains should look for clues to the Great Recession of 2008-09, the last time so much capacity stood idle.
Posted inEthics & Culture
Former NCUA ethics officer drank at strip clubs on job, report reveals
The long-serving ethics officer for the National Credit Union Administration retired late last year after admitting to visiting strip clubs and drinking on the job, according to an internal investigation.
Posted inRegulatory Policy
CFPB the latest federal agency to propose whistleblower program
The Consumer Financial Protection Bureau wants Congress to authorize a program that would reward whistleblowers who provide tips leading to successful prosecutions.
Posted inRisk Management
Can ‘force majeure’ save your company from the coronavirus?
Some businesses—particularly in the global shipping industry—are hoping a provision contained in the fine print of many contracts can avert disastrous financial losses caused by the coronavirus outbreak.
Posted inAccounting & Auditing
KPMG names firm veteran as U.S. CEO
KPMG has named Paul Knopp—who has been with the company for 36 years—to be its next U.S. chair and chief executive officer.
Posted inInternal Controls
Companies consider employee travel bans as coronavirus proliferates
While not yet the norm, employee travel bans are being bandied about by companies across the globe in light of the increasing coronavirus risk; the policy could lead to a trend toward virtual meetings.
Posted inRegulatory Enforcement
CFPB’s leadership structure, SEC’s authority on SCOTUS docket this week
The Supreme Court will hear arguments this week in cases that question whether the current structure of the CFPB is constitutional, and whether to curb the SEC’s power to return funds to fleeced investors.