Most companies maintain several systems within their procurement and accounts payable functions, especially if they have grown through acquisition. But several systems can create risks, including low supplier visibility. Fewer systems can help, but it’s not a cure-all. Many companies find they need to take steps to reduce the risks of working across multiple systems. More inside.
Karen Kroll
Posted inInternal Controls
Kicking the Tires on Third-Party Online Training Offerings
A subpar compliance training program could uncoil several risks on a company: damaged corporate reputation, expensive investigations and protracted legal actions, not to mention the ire of regulatory agencies. Those risks raise the bar on the due diligence companies must perform on any organization they consider to provide outsourced online training to employees. “Compliance training […]
Posted inInternal Controls
Hard Measures: Gauging the Effectiveness of Online Training
You roll out an online training program focused on anti-money laundering regulations. The information collected by the program indicates that everyone who needs to took the course and passed the brief exam at the end. So, does that mean the training was effective? As online compliance training has become more popular, a growing number of […]
Posted inRegulatory Enforcement
Is It Time to Reform the False Claims Act?
Is the False Claims Act—a civil war era law to keep contractors and suppliers from defrauding the government—in need of major reform? It depends whom you ask: Critics say it’s inflexible and overly punitive; others say it’s doing exactly what it’s supposed to do. In a July hearing, “Oversight of the False Claims Act,” David […]
Posted inInternal Controls
Study Up: Your Online Learning System May Be Vulnerable to Hack
Online learning is a booming part of compliance training these days—and a seldom-discussed IT weakness in such systems is growing along with it. First, the good news: e-learning for compliance is humming right along. Statistics specifically for compliance are hard to come by, but anecdotal evidence is strong. “In the early days, online training had […]
Posted inAnti-Bribery
Tough Talk, Little Action on U.K. Bribery Act Enforcement
The Serious Fraud Office and other U.K. regulators have been ratcheting up the rhetoric about coming down hard on companies that commit bribery and corruption. But with puny enforcement budgets and still no major charges against any companies for violating the U.K. Bribery Act, some are wondering if it is mostly just talk. One of […]
Posted inAnti-Bribery
Tough Talk, Little Action on U.K. Bribery Act Enforcement
The Serious Fraud Office and other U.K. regulators have been ratcheting up the rhetoric about coming down hard on companies that commit bribery and corruption. But with puny enforcement budgets and still no major charges against any companies for violating the U.K. Bribery Act, some are wondering if it is mostly just talk. One of […]
Posted inBoards & Shareholders
2014 Proxy Season: Less Contention, but Still Work to Do
The 2014 proxy season—now in its final weeks—is shaping up to be a relatively quiet one, as investor gadflies and proposals on social issues gained little support from fellow shareholders. Companies also generally fared better on “say-on-pay” votes. Some governance watchers attribute the lack of friction during this proxy season to the dialogue many companies […]
Posted inBoards & Shareholders
2014 Proxy Season: Less Contention, but Still Work to Do
The 2014 proxy season—now in its final weeks—is shaping up to be a relatively quiet one, as investor gadflies and proposals on social issues gained little support from fellow shareholders. Companies also generally fared better on “say-on-pay” votes. Some governance watchers attribute the lack of friction during this proxy season to the dialogue many companies […]
Posted inAnti-Bribery
FCPA’s Ripple Effect Means Fines Only Part of the Cost
Allegations of a Foreign Corrupt Practices Act violation can easily cost a company hundreds of millions of dollars. And that’s before the U.S. Department of Justice or the Securities and Exchange Commission levies one dollar in fines or penalties. Internal investigations can quickly spiral into multi-million dollar affairs. Walmart, for example, spent nearly half a […]