Trevor Milton, the founder and former CEO of electric truck startup Nikola, was indicted and charged with fraud regarding inaccurate information he shared about the company in media appearances and on social media.
Kyle Brasseur
Posted inUncategorized
Victoria’s Secret adds VP of ethics and compliance
Victoria’s Secret, a clothing retailer under the L Brands umbrella, has added industry veteran Forrest Deegan as vice president, ethics and compliance.
Posted inAccounting & Auditing
FRC 2020/21 audit inspections: KPMG rebuked over continued struggles
The U.K. Financial Reporting Council released the results of its 2020/21 audit quality inspections, in which it singled out KPMG for “unacceptable” deficiencies regarding the firm’s audits of banks and similar entities.
Posted inData Privacy
California AG: ‘Great progress’ under CCPA despite no fines
California Attorney General Rob Bonta commemorated one year of CCPA enforcement with praise for the law despite there not yet being a publicly announced fine against a business.
Posted inAccounting & Auditing
ICFR failures cost Tandy Leather in SEC settlement
Tandy Leather Factory and its former CEO have agreed to pay a total of $225,000 as part of a settlement with the SEC to resolve charges of inaccurate financial reporting caused by a faulty inventory tracking system.
Posted inEthics & Culture
‘Witness to Wrongdoing’ shines crucial light on understanding whistleblowers
This in-depth CW series chronicles the timeline of a whistleblower—from identifying wrongdoing to reporting and enduring subsequent hardships. Exclusive interviews impart key lessons for compliance officers seeking to become an ally to these individuals.
Posted inAccounting & Auditing
FASB issues standard update for variable lease payments
The Financial Accounting Standards Board finalized an update to its leases standard targeting sales-type leases with variable lease payments.
Posted inRegulatory Enforcement
UBS unit to pay $8M for ETP compliance failures
UBS Financial Services agreed to pay more than $8 million as part of an SEC settlement for allegedly failing to adopt adequate policies and procedures regarding a certain exchange-traded product.
Posted inRegulatory Enforcement
Lordstown Motors confirms DOJ, SEC probes into SPAC merger
Electric vehicle manufacturer Lordstown Motors disclosed in a regulatory filing it has received scrutiny from the Justice Department and the Securities and Exchange Commission regarding its SPAC deal and preorders of its flagship truck.
Posted inAccounting & Auditing
Former FTE Networks CEO, CFO charged with accounting fraud
The former chief executive officer and chief financial officer of telecommunications company FTE Networks were arrested and charged with accounting fraud among a series of other alleged crimes.
