Appointment Blogs | Compliance Week – Page 178
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Five new members join Financial Accounting Standards Advisory Council
The Board of Trustees of the Financial Accounting Foundation has appointed five new members to the Financial Accounting Standards Advisory Council. Check out the Grapevine for more details and other noteworthy appointments.
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CFPB warns financial companies about sales incentives
The CFPB is warning the financial world to be leery of sales quotas that can lead to consumer harm and legal violations. Joe Mont has more on a bulletin from the Bureau that addresses best practices for a targeted compliance monitoring program.
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Companies take action against rising audit costs, FERF study says
Tammy Whitehouse has the results of a new study that shows audit cost increases for public companies are outpacing inflation, but the largest companies are taking measures to keep cost increases in check.
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PCAOB plans final action on new audit report
Audit regulators are on track to finalize by year-end a long-developing overhaul of the standard audit report. Tammy Whitehouse looks at what that means for auditors in the coming year.
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Trump's Treasury pick: 'stripping back Dodd-Frank' is a priority
During an interview with CNBC, Steven Mnuchin and Wilbur Ross, selected, respectively, as Treasury and Commerce secretaries, the two reiterated plans to roll back the Dodd-Frank Act.
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Anixter International names new chief accounting officer
Anixter International—a global distributor of network and security Solutions, electrical and electronic solutions, and utility power solutions—has named Ilaria Mocciaro as corporate controller, chief accounting officer.
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SEC signals continued intensity around internal controls
As the year-end audit cycle approaches, regulators are signaling that their expectations around internal control over financial reporting are not diminishing. Tammy Whitehouse reports.
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Ethics training and parking spaces
A parking space is seen as a definite perk for U.S. executives, but perhaps not so in other countries. Tom Fox looks at the recent case of former Daimler President Rainer Gärtner, who—while operating out of the firm’s China-based location—overreacted to improper use of his parking spot.
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Workiva, Frazier & Deeter partner to help companies modernize GRC processes
Workiva, a business software company, has announced a partnership with accounting tax, and consulting services firm, Frazier & Deeter, to complement Wdesk implementation for the Sarbanes-Oxley Act and risk management. In other news, Workiva announced that it was named as a leader in the Gartner Magic Quadrant for Financial Corporate ...
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Compliance on the VW board
Tom Fox explores the case of Hans Dieter Pötsch, chairman of the VW supervisory board, who could be held responsible if German prosecutors find the board had actual knowledge, but failed to keep shareholders abreast, of the emissions-testing scandal and its potential costs.
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Use of data in a best practices compliance program
Tom Fox discusses how data must be continually managed, tested, and recalibrated within an organization for it to be fully effective.
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IFAC call for nominations
The International Federation of Accountants, a global organization for the accountancy profession, is seeking candidates committed to the public interest and the strength and vitality of the global accountancy profession to fill 33 volunteer vacancies on its board and committees.
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SEC trial scorecard update: Agency starts FY 2017 with victory
Following its victory last week in an insider trading case in California, the SEC is off to a 1-0 start in its FY 2017 federal court trials.
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BlogFrench compliance with governance code
Paul Hodgson provides a look at the Autorité des marchés financiers’ annual report on corporate governance and executive remuneration, which offers an in-depth analysis of compliance with the French governance code, AFEP-MEDEF.
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Behind the call for better corporate governance
A call for smarter, simpler corporate governance is a good thing, except when it’s light on the details, say columnists Stephen Davis and Jon Lukomnik.
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New FDIC recordkeeping rule focuses on big bank failures
A new rule finalized by the FDIC creates new recordkeeping requirements for banks with a large number of deposit accounts. It is intended to facilitate customer restitution if those institutions fail.
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How did GSK obtain a declination?
If GlaxoSmithKline deserved a declination to prosecute, then the Justice Department needs to provide a better explanation as to why. Tom Fox reports.
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Goodwill impairment doubled in 2015, new study says
Amid low oil prices and a spike in M&A, goodwill impairment at public companies doubled from in 2015, hitting its highest levels since the financial crisis.
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FASB issues new restricted cash rule, proposal on stock comp
FASB has published a new rule to combat diversity in restricted cash accounting and a new proposal to clarify the rules around stock compensation modifications.
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Final trial scorecard for FY 2016: SEC goes 4-1-1 in 6 trials
For the second straight year, the SEC litigated six federal court trials. This year, however, the SEC finally lost a trial -- albeit with an asterisk.