Appointment Blogs | Compliance Week – Page 75
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U.S. still waits for new standards on auditing estimates
Auditors following global standards now have updated rules on how to audit accounting estimates, guidance U.S. auditors have been awaiting for years.
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World Bank Group issues first Sanctions System Annual Report
The World Bank Group debarred 78 firms and individuals during fiscal year 2018, according to its inaugural Sanctions System Annual Report, issued on Oct. 3.
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Lease tools emerge to aid in last-minute adoption work
With less than three months until new lease accounting rules take effect, new tools are emerging to help companies that are still working on implementation.
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U.K. retailer details what comes next for no-deal Brexit prep
A no-deal Brexit could have serious consequences for the corporate realm, but few companies appear armed for the challenges. In contrast is U.K. retailer Next, which has published a paper on its preparations that could help others face a no-deal Brexit possibility.
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Companies should revisit revenue compliance, SEC staff hint
SEC staff have signaled companies might want to take a second look at their revenue recognition compliance as they approach their first year-end filing under ASC 606.
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FTC: Four companies falsely claimed certification under EU-U.S. Privacy Shield
Four companies have agreed to settle allegations by the Federal Trade Commission that they falsely claimed certification under the EU-U.S. Privacy Shield framework and that two of these companies failed to abide by a key provision of the framework.
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AmerisourceBergen to pay $625M over illegally repackaged drugs
AmerisourceBergen and its subsidiaries have agreed to pay $625 million to resolve its civil liability to the United States under the False Claims Act for causing false claims for the drugs it repackaged to be submitted to federal health care programs.
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OppLoans names chief compliance officer
Online lender OppLoans has appointed Stacee Hasenbalg to the role of chief compliance officer.
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OppLoans names chief compliance officer
Online lender, OppLoans has appointed Stacee Hasenbalg to the role of chief compliance officer.
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Realogy appoints chief ethics and compliance officer
Realogy Holdings, the largest full-service residential real estate services company in the United States, has appointed John Brennan as chief ethics and compliance officer and chief audit executive.
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Credit Suisse to pay SEC $10M for mishandling retail customer orders
Credit Suisse will pay $10 million to settle charges brought by the SEC and the Office of the New York Attorney General regarding material misrepresentations and omissions made in connection with its now-closed Retail Execution Services business’ handling of certain customer orders.
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SEC charges Stryker second time for FCPA violations
The SEC on Sept. 28 charged Stryker with violating the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act, the second time the SEC has brought an FCPA action against the medical device company.
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Anatomy of a FATCA case
The Department of Justice recently secured its first ever criminal conviction under the Foreign Account Tax Compliance Act. For compliance officers, in-house counsel, and internal audit, the case provides a rare look into the inner workings of a FATCA scheme and resulting undercover sting operation.
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Adverse audit opinions on ICFR taper off in 2017
For the first time since 2010, adverse auditor opinions on internal control over financial reporting tapered off in 2017.
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Lease adoption work will spill into 2019, poll suggests
Plenty of companies adopting new lease accounting rules for a Jan. 1, 2019, effective date are likely to continue their implementation work even into the first quarter.
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Smarsh and Actiance complete merger
Smarsh on Tuesday announced it has completed its merger with Actiance. The combined company will operate under the Smarsh brand.
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SEC charges Voya Financial Advisors with deficient cyber-security procedures
In the SEC's first enforcement action for violations of the Identity Theft Red Flags Rule, Voya Financial Advisors has agreed to pay $1 million to settle charges for having deficient cyber-security policies and procedures concerning a cyber intrusion that compromised the personal information of thousands of customers.
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Report: Financial firms fined $26B for AML, sanctions, KYC non-compliance since 2008
A staggering $26 billion in fines has been imposed for non-compliance with Anti-Money Laundering (AML), Know Your Customer (KYC), and sanctions regulations in the last decade, according to new research.
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Department of Justice updates, renames U.S. Attorneys’ Manual
The Department of Justice announced the roll out of an updated U.S. Attorneys’ Manual, now titled the Justice Manual. It is the first comprehensive review and overhaul of the manual in more than 20 years.
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PCAOB calls out two-thirds of audits at BDO USA
The PCAOB has handed BDO USA another scathing inspection report, finding 67 percent of the audits examined in 2016 failed to comply with standards.