More than a quarter of companies citing COVID-19 in their critical audit matters filed with the PCAOB are part of the financial services industry, according to research from Audit Analytics.
Kyle Brasseur
Posted inAccounting & Auditing
FASB finalizes goodwill triggering event standard update
The Financial Accounting Standards Board announced the adoption of an accounting standards update that provides an alternative for goodwill triggering event evaluation.
Posted inEurope
Deutsche Bank restructures compliance amid leadership overhaul
Deutsche Bank announced a series of changes to its management board, including the upcoming departure of Chief Risk Officer Stuart Lewis and transition of compliance responsibilities to Chief Administrative Officer Stefan Simon.
Posted inUncategorized
McDonald’s names Desiree Ralls-Morrison general counsel
McDonald’s announced the appointment of Desiree Ralls-Morrison as general counsel and corporate secretary. Ralls-Morrison succeeds Jerome Krulewitch, who retired in October 2020 following his being diagnosed with Parkinson’s disease.
Posted inAccounting & Auditing
Enforcement an option as LIBOR deadline nears
Examiners from the Federal Reserve are being encouraged to consider supervisory actions against firms not ready to stop issuing LIBOR-based contracts by Dec. 31.
Posted inUncategorized
Binance tabs former FATF execs as compliance advisors
Cryptocurrency exchange Binance announced the appointment of former Financial Action Task Force executives Rick McDonell and Josée Nadeau as compliance and regulatory advisors.
Posted inEthics & Culture
Fox Corp. names new CECO, general counsel
Media giant Fox Corporation shook up its ethics and legal departments with the appointments of Jeff Taylor as general counsel and Nicholas Trutanich as chief ethics and compliance officer.
Posted inRegulatory Policy
CFTC joins SEC in climate risk push
The Commodity Futures Trading Commission announced the formation of a “Climate Risk Unit” to support the agency’s efforts to determine the role of derivatives in addressing climate-related risks.
Posted inAccounting & Auditing
Och-Ziff ex-CFO fined $35K for role in bribery case
The former chief financial officer at then-Och-Ziff Capital Management Group has agreed to pay $35,000 in a settlement with the SEC for his role in the firm’s notorious bribery scheme.
Posted inAccounting & Auditing
FCA confirms Dec. 31 end date for LIBOR
The U.K. Financial Conduct Authority put the nail in the coffin of LIBOR, confirming the widely used benchmark interest rate will cease to be available in most forms at the end of this year.
