All articles by Neil Hodge – Page 13
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ArticleFRC report sets quality expectations for U.K. audit firms
The U.K. Financial Reporting Council published a blueprint for how it wants audit firms to perform to ensure they deliver high-quality audits.
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ArticleCWE panel: GDPR ‘the start of a culture of data protection’
Belgian Data Protection Authority head David Stevens and Member of European Parliament Axel Voss discussed ways the General Data Protection Regulation could be improved for the future during a keynote at CW’s virtual Europe event.
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ArticleU.K. Supreme Court decision on Google deals blow to class actions
Legal experts weigh in on the U.K. Supreme Court’s rejection of a claim that sought billions of pounds in damages from Google over alleged illegal tracking of millions of iPhones and what it means for future collective actions.
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ArticleEx-FIFA president facing fresh fraud charges
Former FIFA officials Sepp Blatter and Michel Platini have been charged with fraud, forging documents, and other offenses following a six-year investigation into a controversial CHF 2 million (U.S. $2.2 million) payment made out to Platini a decade ago.
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ArticleBarclays CEO Jes Staley steps down over Jeffrey Epstein links
Barclays CEO Jes Staley stepped down after a probe by British financial regulators looks to have found evidence his friendship with disgraced sex offender Jeffrey Epstein was closer than he had originally made out.
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ArticleFRC reporting review: COVID-19 disclosures lacking, new climate-related mandates
In its annual review of corporate reporting, the U.K. Financial Reporting Council found companies are struggling to provide stakeholders with enough detail about COVID-19 disruptions. The regulator also announced new requirements for climate-related disclosures.
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ArticleIAPP report: Privacy spend rising, with further growth expected
Corporate spending on managing privacy risks has risen significantly since last year, with 6 of 10 privacy professionals believing budgets will continue to increase over the coming year, according to the latest IAPP survey.
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ArticleFacebook fined $70M for compliance breaches in Giphy probe
Facebook was fined £50 million (U.S. $69 million) for allegedly breaking U.K. competition rules while the firm is under investigation over its acquisition of Giphy. A separate penalty of £500,000 (U.S. $690,000) was also assessed related to CCO appointments.
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ArticleGlobal Privacy Assembly takeaways: ‘Time to get real’ on cross-border cooperation
Privacy regulators believe there must be a push toward greater international cooperation and enforcement if failure to ensure data protection is to be taken as seriously as other corporate offenses.
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ArticleGDPR enforcement roundup: Austrian Post facing new record fine
The Austrian Post is once again appealing what would be a record GDPR fine in the country after successfully defending itself in the first instance. Other recent decisions under the law provide further enforcement trends.
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Article‘Soft-hearted’ Irish DPC proposes $42M GDPR fine against Facebook
The Irish Data Protection Commission has set out plans to fine Facebook between €28 million and €36 million (U.S. $32 million and $42 million) for violations of the General Data Protection Regulation.
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ArticleLate surge expected to comply with EU Whistleblowing Directive
European companies are expected to rush to comply with new whistleblower protection rules only when they take effect in December, meaning workers are not adequately protected for any disclosures they make in the meantime.
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ArticlePetrofac fine fallout: Penalty too light for SFO to claim success?
Petrofac’s relatively low penalty for multiple bribery offenses might encourage companies to take their chances when faced with the choice of a possible criminal conviction or cutting a deal with the Serious Fraud Office, legal experts warn.
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ArticleGrant Thornton UK fined $3.2M for Patisserie Valerie audit lapses
Grant Thornton UK has been fined £2.34 million (U.S. $3.2 million) by the Financial Reporting Council for failures in its audits of collapsed café chain Patisserie Valerie between 2015 and 2017.
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ArticleCMA’s Green Claims Code latest effort in greenwashing crackdown
Companies have until the end of the year to stop making misleading claims about the green credentials of their products and services or face regulatory action, the U.K. Competition and Markets Authority has warned.
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ArticleBig Four mishaps in U.K. underscore need to challenge auditors
Companies should question their auditors throughout the audit process, particularly in the wake of a spate of recent enforcement actions in the United Kingdom targeting the Big Four and other large firms for audit deficiencies.
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ArticleWhatsApp GDPR fine fallout: EDPB actions shift enforcement landscape
Experts weigh in on the Irish Data Protection Commission’s €225 million (U.S. $267 million) GDPR fine against WhatsApp, which saw the European Data Protection Board rule to increase the fine total and compliance obligations.
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ArticleGerman AML deficiencies in spotlight ahead of election
A recent raid by German prosecutors of the country’s finance and justice ministries has once again put a spotlight on Germany’s apparent failings in tackling financial crime.
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ArticleU.K. signals divergence from GDPR with new data transfer approach
The United Kingdom announced plans to strike independent data adequacy decisions with key countries—including the United States—as part of its post-Brexit economic strategy.
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ArticleU.K. audit breakup plan hits snag without Big Four support
The Big Four audit firms have refused to back a U.K. government plan to break their dominance of the market by forcing them to share work with smaller competitors to give them a foothold.