Your car may be leaking—not just oil or brake fluid, but personal data. A study released Monday by the Government Accountability Office looked at the rapid adoption of automobile gadgetry and the risk that technology could be exposing personal data. The conclusion: companies are taking precautions, but risks persist that many customers may not be […]
Data Privacy
Posted inAnti-Bribery
Top 10 Global Compliance Trends to Watch in 2014
Expect 2014 to be a busy year, full of regulatory and enforcement developments in the European Union, China, South America, and elsewhere that will have a big effect on U.S. companies. A new European Parliament will be elected in May with a new European Commission appointed in October. Politicians, regulators, and Eurocrats will be in […]
Posted inAccounting & Auditing
FASB Finalizes Guidance on Public, Private Entities
GAAP now contains a new definition for what constitutes a ”public business entity,” and standard setters have some final criteria for when differences in accounting standards might be warranted for entities that are not public. The Financial Accounting Standards Board has issued an update to its Accounting Standards Codification to define a public business entity […]
Posted inAccounting & Auditing
Banks Get Needed Advice For Navigating Social Media Dangers
New guidance issued on Wednesday by the Federal Financial Institutions Examination Council aims to help banks understand the risks posed by their use of social media, and suggest strategies to mitigate those threats. “Social Media: Consumer Compliance Risk Management Guidance” will be used by banking regulators — the Office of the Comptroller of the Currency; […]
Posted inData Privacy
SEC Offers New CDIs on Rule 506 ‘Bad Actor’ Disqualifications
The Securities and Exchange Commission has released 14 new Compliance and Disclosure Interpretations to clarify rules pertaining to “bad actor” disqualifications from using the registration exemptions provided for Rule 506 offerings. Issuers can be disqualified from relying on Rule 506 exemptions in a private offering if a covered person is guilty of proscribed actions. Among […]
Posted inAccounting & Auditing
Private Company Accounting Changes Spark Debate Over Simplification
The move to create exceptions to accounting rules for private companies is sparking a debate over simplification, with purists on one side fretting over a dual set of rules, and others pushing for more simplification for public companies too. The Financial Accounting Standards Board wrote a new chapter in accounting history recently when it approved […]
Posted inData Privacy
Private Entities Win GAAP Options; Debate Continues
Private companies have won two critical exceptions to accounting standards, and they may eventually affect requirements for public companies as well. The Financial Accounting Standards Board recently made accounting history when it approved two changes to accounting standards meant specifically to address the concerns of private companies. As recommended by FASB’s Private Company Council and […]
Posted inEurope
New EU Privacy Rules Detailed at Compliance Week Europe
As early as this spring, European Union officials will update privacy regulations with changes that will affect not just member nations, but anyone who does business there. Delivering the keynote address to kick off the inaugural Compliance Week Europe conference, Peter Hustinx, head of the European Union’s Data Protection Supervisor, discussed trends and changes afoot […]
Posted inData Privacy
Getting Cyber-Attacks Out in the Open
After a cyber attack, many companies prefer to remain as secretive as the hackers themselves—providing very little information about the breach and even hiding it from regulators and the public. That silence, say online security experts, can lead to other companies falling prey to similar attacks or cause them to underestimate the risks. Worse, it […]