Plans to push audit firms to disclose how they use AI in audits have been broadly welcomed, but concerns remain over how corporate data is used, secured, retained, and potentially exposed.
Regulatory Policy
Posted inFinancial Services
SEC dodges commitment on climate rule enforcement
The SEC refused to say whether it would enforce its landmark Climate-Related Disclosure Rules in a status report filed Wednesday, deepening uncertainty as the regulation faces legal challenges.
Posted inRegulatory Policy
PCAOB faces uncertain future as SEC Chair solicits new candidates
SEC Chair Paul Atkins is soliciting candidates for all five seats on the Public Company Accounting Oversight Board, he announced Wednesday.
Posted inRegulatory Policy
Compliance managers should review sustainability data as U.K. consults on new reporting standards
The U.K. government promised to introduce Sustainability Reporting Standards in its manifesto. Almost a year after it came to power, it launched a consultation on June 25 on draft plans for these standards, which are largely based on those of the ISSB.
Posted inRegulatory Policy
Florida law makes it easier for employers to sue employees who signed noncompete agreements
Companies in Florida may want to revise noncompete agreements made with highly compensated employees to take advantage of provisions in Florida’s new noncompete law, which took effect July 1.
Posted inRegulatory Policy, Whistleblowers
SEC reportedly denying record percentage of whistleblower claims
The Securities and Exchange Commission is awarding far fewer whistleblower claims, according to Bloomberg Law, which noted the commission denied awards for the entire period between April and July, the longest stretch in the program’s history.
Posted inTechnology
U.K. data law tightens compliance rules, expands complaints process and raises penalties
The U.K.’s Data (Use and Access) Bill, passed into law on June 19, aims to boost the economy and simplify access to services like healthcare and policing. Businesses must understand the changes and ensure data policies and complaints procedures are current.
Posted inAccounting & Auditing
Williams leaves PCAOB four years before her term was supposed to end
Continuing a Trump administration practice of firing independent regulators, the head of the Public Accounting Oversight Board has been sent packing.
Posted inRegulatory Policy
Most companies that self-report misconduct to DOJ will receive declinations, DAG Blanche says
The Department of Justice has refocused its white collar crime priorities on prosecuting the worst cases of corporate misconduct while also clearing away unnecessary and burdensome regulation that could “strangle” American business, Deputy Attorney General Todd Blanche said.
Posted inData Privacy
10 tips to comply with the U.K.’s new data law
Changes to the U.K.’s privacy regime will immediately affect how companies handle AI-driven decisions, cookie usage, and responses to data subject requests. As a result, experts are warning compliance teams to ensure their organizations take the legislation seriously and make plans to review data governance.