Cookware coating manufacturer Whitford Worldwide has agreed to pay $824,314 as part of a settlement with OFAC regarding subsidiary dealings in the sanctioned country of Iran.
Kyle Brasseur
Posted inAccounting & Auditing
IIA CEO Chambers to step down
The Institute of Internal Auditors announced longtime President and Chief Executive Officer Richard Chambers plans to step down at the end of March.
Posted inInternal Controls, Risk Management, Surveys & Benchmarking
IIA’s ‘Three Lines of Defense’ updated to stress collaboration
The Institute of Internal Auditors’ updated “Three Lines Model” ditches the focus on defense of its predecessor to encourage more effective collaboration between key players within an organization.
Posted inAccounting & Auditing
Ex-FASB head Golden to lead PwC independent advisory committee
Big Four audit firm PwC announced the addition of former Financial Accounting Standards Board head Russell Golden as chair of its recently formed, independent Assurance Quality Advisory Committee.
Posted inAccounting & Auditing
FRC closes accounting investigation into Mitie Group
The U.K. Financial Reporting Council announced the closure of its nearly three-year-long investigation into the financial statements of facility management firm Mitie Group for the year ended March 31, 2016.
Posted inAccounting & Auditing
FRC audit inspections: Deloitte leads way as quality declines as a whole
The Financial Reporting Council published the results of its latest round of audit inspections, concluding one-third of the reviewed audits conducted by the seven largest U.K. firms required a notable level of improvement.
Posted inRisk Management
Study: U.S. largest target for ‘significant’ cyber-attacks
The United States has been on the receiving end of more significant cyber-attacks over the last 14 years than triple any other country, according to new research.
Posted inAccounting & Auditing
FASB proposes delay to long-duration insurance standard
The Financial Accounting Standards Board proposed a one year delay to its standard on accounting for long-duration contracts at insurance companies as a result of the ongoing coronavirus pandemic.
Posted inRegulatory Enforcement
Amazon pays $135K to settle OFAC screening violations
Amazon will pay approximately $135,000 as part of a settlement with the Office of Foreign Assets Control regarding apparent sanctions violations derived from deficient screening processes.
Posted inEthics & Culture
Deutsche Bank rightly paying the price for looking the other way on Epstein
In terms of Know Your Customer, Deutsche Bank knew what it had with Jeffrey Epstein. It just didn’t care enough to do anything about it.
