A new report from the Committee of Sponsoring Organizations of the Treadway Commission offers a blueprint to organizations for establishing an overall fraud risk management program.
Internal Controls
Posted inInternal Controls
Fed pledges heightened supervision following SVB collapse
The Federal Reserve Board will likely recommend strengthening regulatory and supervisory procedures for mid-sized regional banks in the aftermath of the failure of Silicon Valley Bank.
Posted inAccounting & Auditing
Frank’s International to pay $8M in FCPA case
Dutch oilfield services provider Frank’s International agreed to pay nearly $8 million as part of a settlement with the Securities and Exchange Commission for allegedly paying bribes to influence oil drilling contracts in Angola.
Posted inEthics & Culture, Internal Controls, Risk Management
Nomination deadline closed for 2023 ‘Excellence in Compliance Awards’
The nomination deadline for CW’s fourth annual “Excellence in Compliance Awards” closed March 31. Winners will be announced in May.
Posted inAccounting & Auditing
New COSO guidance tackles sustainability reporting
The Committee of Sponsoring Organizations of the Treadway Commission created a framework for companies seeking to achieve effective internal control over sustainability reporting.
Posted inAccounting & Auditing
Veradigm discloses ICFR weakness related to rev rec software tool
Healthcare technology company Veradigm disclosed it expects it misstated revenue by approximately $40 million during its 2021 and 2022 reporting periods.
Posted inEthics & Culture
Best practices to ensure your firm’s compliance resiliency
What is compliance resiliency, and why is it crucial for your organization to have it? Recent enforcement examples demonstrate why mapping out a clear business continuity plan can help thwart a risky management reshuffle.
Posted inAccounting & Auditing
SEC chief accountant eyeing auditor use of network member firms
The Securities and Exchange Commission is paying added scrutiny toward audit firms’ increasing use of network affiliates in their work and the potential for inconsistent quality that comes with such an approach.
Posted inAccounting & Auditing
Tupperware to delay annual report amid ICFR weaknesses
Tupperware Brands Corp. disclosed it uncovered material weaknesses in its internal control over financial reporting as part of an announcement its 2022 annual report would be delayed.
Posted inAccounting & Auditing
Credit Suisse discloses ICFR ‘not effective’ in 2022
Credit Suisse Group disclosed in its annual report its internal control over financial reporting was “not effective” for the fiscal year ending December 2022.
