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Posted inEthics & Culture
CalPERS Wants To Crack Down On Conflicts Of Interest
The nation’s largest public pension fund, the California Public Employees’ Retirement System, recently fired off a letter to the Fortune 100 CEOs, asking them to disclose any “interested-party transactions.” Specifically, the fund wants the CEOs to provide information on directors and executives who hold a financial interest in companies with which the CEOs do business. […]
Posted inAccounting & Auditing
Gemstar Case Sets New Standard For Qualitative Materiality
It was a stern reminder the Securities and Exchange Commission sent to the auditing world recently: Appearances do matter. The agency delivered a $10 million rap on the knuckles to KPMG on Oct. 20, for ignoring improper revenue statements from its client Gemstar-TV Guide International. The inflated revenues themselves weren’t much: $212 million from late […]
Posted inInternal Controls
Internal Control Disclosures In October: Forward-Looking
Below are a sampling of disclosures made in October that warn of potential problems. Please be aware that the excerpts below are just that: excerpts. The complete SEC filings are available for those who would like to review the complete disclosures in greater detail. For related information on the list below, please refer to the […]
Posted inInternal Controls
Internal Control Disclosures In October: Changes
Below are a sampling of disclosures made in October that describe changes to the state of their internal control over financial reporting, as required by SOX 302. Please be aware that the excerpts below are just that: excerpts. The complete SEC filings are available for those who would like to review the complete disclosures in […]
Posted inInternal Controls
Internal Control Disclosures From October
THE FILINGS Weaknesses, Deficiencies Weaknesses: View The Actual Internal Control Disclosures From October Other Types Of Disclosures Remediation: View Examples Of Control Remediation Disclosures In October Risk Factors: Examples Of Controls As “Risk Factors” In Companies’ MD&A Issues: Examples Of Companies Disclosing “Issues” With Controls Changes: Disclosures Of Changes In Controls As Per SOX 302 […]
Posted inInternal Controls
Internal Control Disclosures In October: Issues
Below are a sampling of disclosures made in October that describe internal control “issues.” These are not disclosures of deficiencies or weaknesses; rather, the companies simply have noted they have some problem related to their controls. Please be aware that the excerpts below are just that: excerpts. The complete SEC filings are available for those […]
Posted inInternal Controls
Internal Control Disclosures In October: Remediation
Below are a sampling of disclosures made in October that outline internal control remediation and improvement efforts. Please note that some of the disclosures below may be updates to prior remediation disclosures. Also, please be aware that the excerpts below are just that: excerpts. The complete SEC filings are available for those who would like […]
Posted inFrom the Archive
Q&A With Former Chief Risk Officer At Fidelity
This profile is the latest in a series of weekly conversations with executives at U.S. public companies who are currently involved in establishing and developing compliance programs. An index of previous conversations is available here. Define the chief risk officer’s role as you see it. There are two main objectives for the chief risk officer. […]
Posted inFrom the Archive
SEC Calls For Better Executive Compensation Disclosure
The Securities and Exchange Commission is considering steps that would require more meaningful and complete disclosure of executive compensation in public filings. That’s according to Division of Corporation Finance Director Alan Beller, who described the Commission’s new emphasis on compensation transparency at an industry conference in San Francisco. Beller The speech comes on the heels […]
