Just 25 percent of corporate leaders felt their organizations were highly prepared to handle the governance and risk issues posed by generative artificial intelligence, a Deloitte survey found.
Accounting & Auditing
Posted inAccounting & Auditing
FCPA violations in China: Lessons learned from 2023 cases
Enforcement actions regarding alleged violations of the Foreign Corrupt Practices Act at 3M, Albemarle, Clear Channel Outdoor, and Royal Philips each had China touchpoints. Experts assess third-party risk management lessons learned from each case.
Posted inAccounting & Auditing
ADM puts CFO on leave pending accounting probe
Food processing company ADM announced Chief Financial Officer Vikram Luthar was placed on administrative leave pending an investigation into accounting practices and procedures flagged by the Securities and Exchange Commission.
Posted inAccounting & Auditing
FRC ups board responsibilities in corporate governance code revisions
The Financial Reporting Council held back on the latest round of updates to the U.K.’s corporate governance code, as the country remains wary of pushing away businesses and investors.
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Stiffer U.K. audit penalties posing more problems?
Legal experts are unconvinced record fines against audit firms imposed last year by the U.K. Financial Reporting Council will necessarily improve audit quality.
Posted inAccounting & Auditing
Mixed reactions to new U.K. pensions code of practice
Lawyers and accountants in the United Kingdom have welcomed the publication of The Pensions Regulator’s new pensions code of practice but warned it might not improve the management of those that are not already well run.
Posted inAccounting & Auditing
U.K. push for more listings to lower bar on governance?
Moves by the U.K.’s financial regulatory body to encourage companies to list in London might fail to deliver or send mixed messages about the value placed on corporate governance, according to experts.
Posted inAccounting & Auditing
PCAOB announces general counsel
The Public Company Accounting Oversight Board announced the appointment of James Cappoli as general counsel.
Posted inAccounting & Auditing
SAP to pay $220M in FCPA settlements
German-based software company SAP agreed to pay more than $220 million as part of resolutions with authorities in the United States and South Africa regarding alleged violations of the Foreign Corrupt Practices Act.
Posted inAccounting & Auditing
Ten things I’d like to see happen in 2024
Election years in the United States, United Kingdom, and at European Parliament, along with ongoing geopolitical tensions, make 2024 difficult to predict—aside from the expectation compliance officers will be busy.