Image: Layne Christensen Co. joined the FCPA enforcement hall of shame this week; it was fined $5.1 million for various bribery infractions in Africa in the 2000s. Its aggressive investigation efforts won praise from regulators, but the root of the company’s problem—weak internal control over financial reporting—is still the far harder challenge for companies to overcome. Editor Matt Kelly has his analysis inside.
Matt Kelly
Posted inEthics & Culture
Getting In-Depth on Compliance
Image: In its full glory, corporate compliance is a complex subject. Compliance Week does its best to provide subscribers with timely, concise looks at news in this field to help you understand how you can build and manage a better compliance program, but let’s be honest—sometimes you need an even deeper dive. Compliance Week now provides even that deeper dive, too. Editor Matt Kelly has more on our new offering inside.
Posted inEthics & Culture
Thoughts From Compliance Week Europe
BRUSSELS—The 2014 Compliance Week Europe conference took place last week, and yet again it was an outstanding event that left me convinced the compliance profession has taken firm root here. A few random observations while they are fresh in my memory… Europeans don’t care about compliance? Baloney. We had more than 150 attendees from 22 […]
Posted inFrom the Archive
Ebola and Risk Management Gone Awry
Like any other thinking human being these days, I’m increasingly worried about the ebola virus. Now, I am not worried that ebola is destined to spread like wildfire and drive us into some god-awful real-life version of “The Stand” or “Walking Dead.” Nor do I worry that mankind will never find a cure. I believe […]
Posted inFrom the Archive
Jim McGrath, Compliance Notable, Passes Away
Sad news for the compliance community: James McGrath, author of the Internal Investigations blog and one of the more voluble and entertaining voices in this field, died this week of a heart attack. McGrath was a regular on the compliance conference circuit, including Compliance Week’s own annual conference for many years. I could always count […]
Posted inAccounting & Auditing
Compliance, Audit, and Governance: Let’s Discuss
The next Compliance Week executive roundtable will happen in Dallas next month, and the topic could not be more timely as companies put the final touches on their 2015 budget plans: how to structure compliance and governance functions at a large enterprise. By that, I mean how compliance officers work with other senior executives to […]
Posted inRisk Management
Getting a Grip on Strategic Risks
You might feel these days that you spend all your time struggling with compliance or financial reporting risks, but not really getting to the big risks that really matter. You might be right. At least, that’s one conclusion in the latest report from the Corporate Executive Board. Compliance officers would do well to read it, […]
Posted inEthics & Culture
The NFL’s True Problem: Misplaced Priorities Trumping Ethics & Compliance
Contrary to what you might believe lately, the National Football League does have an ethics & compliance program. What’s more, the program actually looks pretty good. Except, of course, for that small bit about deciding to have high standards in the first place. That is the flaw I see in the NFL’s handling of Ray […]
Posted inInternal Controls
Dispatches From the Front on COSO Implementation
Well, we are starting to get word from the field about companies’ progress implementing the new COSO framework for internal control. Apparently we have a few weaknesses to discuss. In theory, compliance and internal audit teams have been working hard all summer to implement the new framework, scheduled to go into effect on Dec. 15. […]
Posted inInternal Controls
Tips on Making Compliance Useful
Not long ago I came across a nifty piece of guidance from Huron Consulting. The subject: how pharmaceutical and life sciences companies can bravely soldier on with an effective compliance program after they exit a corporate integrity agreement. The paper is only six pages long and worth a read when you have spare time. Even […]