All Internal Controls articles – Page 3
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Blog
Walter Shaub, Bitcoin, and IPOs
In case you missed it, Ethics Office Director Walter Shaub resigned after differences in opinion with the administration, bitcoin offers evaders new tax havens after the Panama Papers leak, and IPO regulations are taking the spotlight in this week's rundown of compliance news from around the web.
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Auditors get notice to scrutinize SAB 74 disclosures
Auditors have been notified to be alert to whether corporate SAB 74 disclosures about pending new accounting standards are adequate.
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SOX exemption saves plenty, costs more, study says
A new study calculates the cost and benefit of exempting smaller companies from SOX internal control audits — and it suggests investors aren't better off.
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Evolving toward a modernized compliance program
The key to building a truly forward-facing compliance function is to make it proactive and predictive, visionary, and strategic. And none of that is particularly easy.
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In the final push to new revenue rules, some turn to manual solutions
Delays in preparing for new revenue recognition requirements are starting to pinch the IT timeline, forcing many companies to develop manual workarounds.
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British Airways learns a lesson on controls
The recent power failure at British Airways that stranded more than 75,000 holiday passengers is a reminder to companies of the importance of internal controls.
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How two companies successfully merged their compliance functions
When Johnson Controls and Tyco merged in 2016 to form Johnson Controls International, the merged entity created a single compliance function that was greater than the sum of its parts.
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Have you vetted fraud risk under new revenue standard?
The risk of fraud in revenue recognition is growing as companies’ sluggish adoption of new rules creates fresh opportunities for would-be perpetrators.
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Senators press PCAOB for answers on KPMG audit of Wells Fargo
U.S. Senators are asking how KPMG could know Wells Fargo had fake accounts on the books, but not flag it as relevant to the financial statement audit.
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Compliance program metrics for healthcare and beyond
The Department of Health and Human Services Office of Inspector General has published a comprehensive new resource guide on measuring compliance program effectiveness, but it’s not just for the healthcare industry.
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Top 5 ethics and compliance failures of 2016
A highlight of the biggest ethical failures of 2016, including the scandals that rocked Wells Fargo, Unaoil, and Teva, and what public companies should do to avoid a similar fate.
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To combat fraud, check accounting policies, internal controls
In the battle against fraud and restatements, a company’s best allies are strong accounting policies and well-documented internal controls, a new report says.
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Workplace investigations: 8 pitfalls to avoid
Investigating workplace complaints of harassment, intimidation, and other interpersonal issues is as challenging as it is mandatory. Sahil Kanuga shares eight common pitfalls to avoid.
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The Four Goods
As in the sport of jiu-jitsu, the four goods, “good control, good technique, good position, and good submission,” could also benefit the world of compliance, writes Bill Coffin.
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Finding the hidden risks in sales practices
As financial institutions pursue aggressive new sales goals, organizations need proactive, independent review of their own sales practices, write guest columnists Chris Sicuranza and Paul Noring.
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Companies get proactive to control audit costs, report says
Companies are mitigating increases in audit fees, and in some cases are even reducing audit costs, using some key tactics outlined in a new report. More from Tammy Whitehouse.
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Agenda 2017: revenue recognition, meet internal controls
In 2017, monumental accounting change in the form of revenue recognition will crash head on with continued intensity around internal controls. Tammy Whitehouse reports.
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The science of compliance
Carrie Penman of NAVEX Global uses her background as a scientist to forge an unconventional, and highly successful career in ethics & compliance, writes Bill Coffin.
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Blog
How JPMorgan Chase avoided prosecution over ‘Sons and Daughters’
At one time, it looked like JPMorgan Chase had landed in fairly hot water with its ‘Sons and Daughters’ bribery scandal. But for every misstep, says Tom Fox, there is a path to freedom.
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Still battling over internal control? Focus on risk assessments, communication
In the continually evolving battle over internal control reporting and auditing, the strategy for the next front should include better risk assessments and timely communication with auditors. Tammy Whitehouse has more.