ESG and cryptocurrency figure to be key topics in 2022, but we’re also keeping an eye on President Biden’s anti-corruption efforts, details on Amazon’s record GDPR fine, the status of Facebook’s first CCO, and more.
Kyle Brasseur
Posted inAccounting & Auditing
SEC staff stresses importance of fallback language in LIBOR transition
Companies looking to avoid running afoul of the SEC in their LIBOR transition efforts would be wise to include fallback language in their contracts and investments that reference the soon-expiring benchmark rate.
Posted inEthics & Culture
Five compliance triumphs from 2021
A key CCO appointment, a company committed to transparency, and a bank that spent big on improving its AML controls highlight CW’s annual list of laudable ethics and compliance moments.
Posted inAccounting & Auditing
American Renal Associates to pay $2M in accounting fraud case
American Renal Associates Holdings has agreed to pay $2 million to settle Securities and Exchange Commission charges of accounting fraud allegedly perpetrated by three former financial executives at the dialysis provider.
Posted inAccounting & Auditing
FRC closes Conviviality accountant investigation; KPMG probe continues
The U.K. Financial Reporting Council announced the end of an investigation into an accountant that prepared and approved financial statements at collapsed alcohol retailer Conviviality.
Posted inAccounting & Auditing
FASB proposes CECL disclosure updates
The Financial Accounting Standards Board announced a proposed update aimed to enhance disclosures regarding troubled debt restructuring and gross writeoffs under its credit losses standard.
Posted inRisk Management
GoDaddy data breach affects 1.2M customers
Web hosting company GoDaddy announced an unauthorized third party obtained the email addresses and customer numbers of up to 1.2 million users after improperly accessing its Managed WordPress hosting environment.
Posted inRisk Management
FinCEN notice warns banks of environmental crime
The Financial Crimes Enforcement Network issued a notice to banks and other financial institutions calling attention to what it has identified as a rising trend in environmental crimes.
Posted inRisk Management
New CCO responsibilities must beget resource support
For the third straight year, respondents to our “Inside the Mind of the CCO” survey indicated lack of support and resources as the No. 1 part of their job that keeps them up at night. It’s cause for concern, especially as the role’s mandate grows.
Posted inAccounting & Auditing
FASB update improves discount rate guidance under leases standard
The Financial Accounting Standards Board issued an update to its leases standard regarding discount rate guidance for lessees that are not public business entities.
