Following an investigation spurred by a whistleblower letter, Mattel announced it has uncovered material weaknesses in its internal controls over financial reporting and is now working to remediate the issues.
Whistleblowers
Posted inAccounting & Auditing
EY accused in U.K. gold-laundering scheme
Big Four audit firm EY has been accused of covering up evidence of smuggling by an organized crime gang that was laundering British drug money through gold dealings, according to an investigation by the BBC.
Posted inAccounting & Auditing
Unethical practices at Infosys? SEC opens probe
The SEC has launched an investigation into Infosys based on an anonymous letter the agency received from several Infosys employees alleging CEO Salil Parekh forced them to engage in “disturbing unethical practices.”
Posted inAccounting & Auditing
Senators call out SEC over PCAOB whistleblower report
A letter sent by two senators addressed to SEC Chairman Jay Clayton critiques the regulator’s oversight of the PCAOB as showing “questionable judgment and an alarming lack of transparency.”
Posted inRegulatory Policy
Fourth time a charm? Senate again passes whistleblower protection bill
The U.S. Senate has once again passed an act to allow employees who believe they are the victim of retaliation to file a complaint with the Secretary of Labor and to be reinstated to their former status if the Secretary finds in their favor.
Posted inEthics & Culture
First-ever directory of companies’ anonymous reporting hotlines released
A newly published online directory offers employees of Fortune 500 companies 10 tips and other best practices for reporting sexual misconduct, ethical violations, and fraud.
Posted inAccounting & Auditing
PCAOB swaps board members, faces whistleblower report
The SEC has ousted Kathleen Hamm as a board member at the PCAOB, replacing her with White House aide Rebekah Goshorn Jurata. The swap, along with a whistleblower report, signal internal strife at the audit regulator.
Posted inEurope
EU whistleblower protection law gets go-ahead
Whistleblower protections against dismissal, demotion, and other forms of retaliation will come into effect in the European Union within the next two years, according to an agreement signed recently by EU leaders.
Posted inWhistleblowers
CFTC issues $7M to whistleblower for ‘limited assistance’
A whistleblower who provided the Commodity Futures Trading Commission with “limited assistance” about misconduct that prompted an investigation was still awarded $7 million, the agency announced.
Posted inAccounting & Auditing
House approves PCAOB whistleblower program
The U.S. House of Representatives has passed a bill to move the creation of a whistleblower program at the PCAOB forward. While some praised the development, others cautioned it’s a redundant and flawed measure.