Coronavirus Pandemic


PCAOB

Ex-PCAOB risk officer files lawsuit alleging harassment, discrimination

2021-04-13T17:42:00+01:00By

The former chief risk officer of the PCAOB says she was subjected to a campaign of harassment and discrimination before she was unlawfully fired last year.

AuditCoronavirus

IIA survey: COVID-19 impact on internal audit smaller than expected

2021-04-05T17:08:00+01:00By

The impact of the coronavirus pandemic on internal audit was not nearly as severe as it was for organizations overall, states a new report from the Institute of Internal Auditors.

Financial reporting

Study: Financial services leads way in COVID-related CAMs

2021-03-31T17:39:00+01:00By

More than a quarter of companies citing COVID-19 in their critical audit matters filed with the PCAOB are part of the financial services industry, according to research from Audit Analytics.

James Comey

James Comey: Buckle up for dangerous post-pandemic risk landscape

2021-03-30T17:41:00+01:00By

Former FBI Director James Comey predicted a “time of extraordinary change” is ahead for the compliance profession in the post-pandemic world during a prerecorded video message at Compliance Week’s Financial Crimes virtual event.

Accounting

Five key going concern considerations for 2021 reporting

2021-03-29T12:54:00+01:00By

Evaluating potential going concern issues was a hot topic for companies and their auditors in 2020. With first-quarter 2021 reporting around the corner, Maria Murphy offers five key considerations to be thinking about.

US-UK-flagscrop

U.S., U.K. enforcement heads praise coordination in corruption cases

2021-03-16T18:18:00+00:00By

Daniel Kahn of the U.S. Department of Justice and Lisa Osofsky of the U.K. Serious Fraud Office discuss how enforcement agencies expect closer cooperation through 2021 in the global fight against bribery and corruption.

Coronavirus cost rise

Ethics survey: Employee pressure on the rise amid COVID-19

2021-03-10T21:19:00+00:00By

A new global business ethics survey conducted by the Ethics & Compliance Initiative found employees are experiencing more work-related pressure as compared to before the coronavirus pandemic.

Accountingbestpractices

Study: Goodwill impairments drop in 2019; spike projected in 2020

2021-03-03T19:55:00+00:00By

Goodwill impairment recorded by U.S. public companies fell 10 percent from 2018 to 2019, according to Duff & Phelps’ latest study. An early look at 2020 figures suggests a big rise in next year’s results as a result of the pandemic.

ask cco 3x2 roberts

Ask a CCO: How is your company reacting to cyber-risks introduced by COVID-19?

2021-03-03T12:56:00+00:00By Compliance Week

Five senior compliance practitioners tell Compliance Week how their organizations are reacting to new cyber-threats introduced by the pandemic.

Audit

FERF study: Average audit fees inch higher in 2019

2021-03-01T21:09:00+00:00By

In the 11th edition of its annual public company audit fee study, the Financial Education & Research Foundation reported an increase of 6 percent in average audit fees largely due to expanded scope.

woods

Banks filing more SARs amid pandemic; is this the right approach?

2021-03-01T14:09:00+00:00By

An increase in the submission of suspicious activity reports for cash values that fall under the mandatory $10,000 transaction reporting threshold last year is a proactive step by banks, but more can always be done, writes Martin Woods.

New workplace screenshot

CW panel: Preparing for the return to the workplace—and the next pandemic

2021-02-25T17:06:00+00:00By

Experts at CW’s “Compliance Considerations for the New Workplace” virtual summit discuss striking the balance between complying with laws applicable to matters of health and safety while still respecting employee privacy in the return to the office and beyond.

Dorit Rubinstein Reiss

Legal precedent for COVID-19 vaccine mandates on shaky ground, expert says

2021-02-24T21:08:00+00:00By

Mandating COVID-19 vaccines for your workplace might not be as straightforward as following the legal precedent set by flu vaccines, an expert explained at CW’s “Compliance Considerations for the New Workplace” virtual summit.

cyber insurance

Cyber-insurance: Why you need it and how to choose the right plan

2021-02-22T20:49:00+00:00By

As cyber-attacks surge, the need for cyber-insurance is growing more urgent. But it’s critical for companies to first familiarize themselves with how to navigate the labyrinth of cyber-insurance products on the market so that they are properly covered.

dnb 300x200

CPE Webcast: Picking up the pieces, planning for recovery

2021-02-18T11:00:00+00:00Provided by

In the wake of COVID-19, compliance professionals need to be aware that the pandemic made instances of fraud more likely. This reflects the astonishing pressure put on governments and global financial systems and service providers to respond and adapt to the crisis.

SayOnPay

A critical look at pandemic-related executive compensation changes

2021-02-17T15:05:00+00:00By

With 2021 proxy season underway, a new analysis by Compensation Advisory Partners reveals what impact proxy advisory firm Institutional Shareholder Services will have on say-on-pay concerning executive compensation actions made in response to the pandemic.

KPMG building

KPMG UK chair resigns over controversial pandemic remarks

2021-02-12T19:40:00+00:00By

KPMG UK Chairman Bill Michael has resigned after controversial remarks he made about the coronavirus pandemic during a virtual town hall meeting offended several employees and were subsequently made public.

blackline 300x200

CPE Webcast: Advancing the audit despite disruption

2021-02-11T12:00:00+00:00Provided by

There’s no question that F&A teams have been disrupted by the ongoing pandemic. In fact, nearly half of respondents in a recent survey said that closing virtually with a distributed workforce impacts the audit and other third-party engagements.

COVID-Prep

CPE Webcast: COVID-19 employee training requirements

2021-02-10T15:00:00+00:00By Compliance Week

This one-hour Webinar covers what coronavirus pandemic training and education are needed to safely re-enter the workplace.

2021

Survey: Pandemic pervades executives’ top 10 risks for 2021

2021-02-05T17:39:00+00:00By

The aftermath of the coronavirus pandemic dominates the top risks that will keep boards of directors and executive management teams on their toes in 2021, a new survey by Protiviti and NC State’s ERM Initiative finds.

Global currency

Anti-corruption developments in 2020: China, India make strides

2021-02-03T21:41:00+00:00By

A global panel of experts with law firm Gibson Dunn share insights around recent anti-corruption developments in some of the world’s largest regions, including China, India, Latin America, and Africa.

Coronavirus globe

Transparency International index: Pandemic tests anti-corruption efforts

2021-01-29T17:34:00+00:00By

Corrupt activity bolstered by the coronavirus pandemic features heavily in the findings of Transparency International’s 2020 Corruption Perceptions Index, with even some of the highest-scoring countries having their share of challenges.

skillsoft 300x200

CPE Webcast: Compliance considerations to prepare for returning to the office

2021-01-28T14:00:00+00:00Provided by

With the pandemic lingering and the coronavirus vaccine shipping in the United States, we are hopefully beginning to turn the corner on the pandemic.

Columnist_Bistrong

My Compliance Library: ‘Can You Hear Me?’ a guide for virtual connections

2021-01-27T18:40:00+00:00By

You might not have thought you needed it, but Nick Morgan’s “Can You Hear Me?” provides some valuable advice for getting the most out of your daily virtual meetings and conversations.

Coronavirus cost rise

Survey: KYC, risk profiling key problem areas for finance amid pandemic

2021-01-25T20:40:00+00:00By

A new survey by LexisNexis Risk Solutions examines the rising costs and emerging risk areas faced by compliance at U.S. and Canadian financial institutions amid the coronavirus pandemic.

Cyber-risk panel

Cyber-Risk Summit: 7 best practices for protecting employee health data

2021-01-21T21:19:00+00:00By

Experts at CW’s virtual Cyber-Risk and Data Privacy Summit explain the importance for companies to review and enhance their current data security compliance policies and procedures.

Technology decisions

Surveys: Rushing technology decisions comes with big compliance risks

2021-01-15T18:23:00+00:00By

Embracing technology to help manage risk and improve efficiencies is a trend that’s been developing in the compliance space for a while, but the pandemic has fast-tracked the urgency behind it, according to a couple of recent surveys.

Whistle

SEC sets whistleblower annual award record ($176M) four months into fiscal year

2021-01-14T19:46:00+00:00By

The Securities and Exchange Commission has announced over $176 million in whistleblower awards in the first four months of the current fiscal year, already more than any other year in its history.

CFPB

All signs point to aggressive consumer protection under Biden

2021-01-12T17:28:00+00:00By

Consumer protection initiatives are expected to be a major area of focus for President-elect Joe Biden, who is widely anticipated to breathe new life into the enforcement priorities of federal and state agencies with such powers.

Coronavirus fails

Assessing 2020: Lessons learned for the financial crime landscape

2020-12-29T21:49:00+00:00By James Thomas, International Compliance Association

This year has been one most of us would like to forget. As we look toward 2021, nevertheless, it is worth considering lessons learned over the last 12 months and (where possible) drawing on any positives that have come to light regarding the financial crime landscape.

woods

Confidence is the ultimate tool in fighting fraudsters

2020-12-18T16:25:00+00:00By

Con men will try to bully weak investigators and sell them their version of “the truth,” writes Martin Woods. The ultimate deterrent is to challenge their “facts” and act with the same confidence they display.

ESGReporting

Poll: More companies linking ESG initiatives to executive incentive plans

2020-12-17T17:02:00+00:00By

Current events have significantly accelerated the need for companies around the world to link ESG initiatives to their executive incentive plans, according to a recent poll conducted by Willis Towers Watson.

back-to-office-2020-q8

Survey: Remote work poses different challenges for men and women

2020-12-16T16:49:00+00:00By

A CW survey finds male and female compliance practitioners are processing the pressure points of the pandemic differently, and that fully remote work is leading to a permanently changed future for post-pandemic work schedules.

Investigate

The growing demand for investigation skills in compliance

2020-12-16T16:48:00+00:00By Tristan Jenkinson, International Compliance Association

As the compliance world evolves, the skill sets needed by practitioners are changing. The ability to run investigations effectively is now highly prized, and key skills, such as understanding the use of technology, will be among the most fundamental in the years ahead.

SkillsoftBTW

e-Book: A blueprint for COVID-19: Getting back to the office

2020-12-16T03:00:00+00:00Provided by

A recent survey from Compliance Week and Skillsoft of 180 compliance, risk, and audit professionals asked the question: “What’s your back-to-office plan, and does it work for you?”

Richard Jones

FASB Chair Jones projects pandemic challenges to persist in 2021

2020-12-15T20:27:00+00:00By

New FASB Chairman Richard Jones said in a recent speech that he believes accounting challenges from the coronavirus pandemic won’t go away soon, with his organization poised to address new issues as they arise.

Coronavirus office

Survey: Remote compliance practitioners feel supported, but for how long?

2020-12-15T20:08:00+00:00By

A recent survey of 180 compliance, risk, and audit professionals asked the question: “What’s your back-to-office plan, and does it work for you?” The short answer was there is no plan, and the status quo is faring better for the company than the employee.

PCAOB

PCAOB reviews a year like no other, previews what lies ahead in 2021

2020-12-14T21:58:00+00:00By

PCAOB board members remark on changes at the organization amid the coronavirus pandemic, recent audit inspection findings, priorities for 2021, and more.

Europe

Five challenges for European CCOs heading into 2021

2020-12-10T21:13:00+00:00By

Many of the problems European compliance officers faced in 2020 will remain in place going into the new year, but new risks and new regulations will also present new challenges.

Sagar Teotia

SEC accounting office acknowledges challenging year for auditors

2020-12-10T17:57:00+00:00By

Among other things, the SEC’s chief accountant discussed activities relating to public company financial reporting, accounting and auditing policy updates, and financial reporting considerations related to COVID-19 at a conference this week.

FCPA

Record year of FCPA enforcement a sign of more to come in 2021

2020-12-10T13:30:00+00:00By

Major bribery scandals, record enforcement actions, unprecedented cross-border coordination and prosecutions—all this amid a global pandemic made 2020 an unforgettable year for FCPA enforcement.

2021

Ten things I’d like to see happen in 2021 (2020 in review)

2020-12-09T14:20:00+00:00By

Many of the things I’d like to see in 2021 are directly related to regulatory changes we anticipate are coming under a Biden administration, but they’re mixed with a few lessons from the pandemic we hope carry into a post-COVID world.

Ask a CCO

Ask a CCO: Compliance leaders share pandemic lessons learned

2020-12-08T13:45:00+00:00By Compliance Week

Six senior compliance practitioners divulge how they fared in 2020, from wrestling with new risks amid the pandemic to the most valuable lessons learned during a year rife with crisis.

Cyber-security

Preparation, monitoring key to combating third-party cyber-security risk

2020-12-07T17:49:00+00:00By

A spate of recent cyber-security breaches occurring via third parties is a reminder of the importance for companies to stay on top of risk management. Regulators have shown to not take kindly to finger-pointing.

columnist_aly

Zoom & me: Silver linings of 2020

2020-12-07T13:42:00+00:00By

Turning the lens on Zoom reveals one possible highlight of 2020: a standout company that helped corporate America transition to remote work.

Coronavirus look ahead

Gartner report: How coronavirus has altered audit risks for 2021

2020-12-02T21:30:00+00:00By

The coronavirus pandemic has dramatically altered the risk landscape for chief audit executives and audit departments by exacerbating long-standing risks while giving rise to new ones, a new report by research and advisory firm Gartner finds.

Lawyer

How the pandemic and social justice matters have changed the GC role

2020-11-20T20:13:00+00:00By

General counsel have taken on significantly more responsibility since the start of the coronavirus pandemic and amid the current social climate, solidifying their role as a critical business partner, a recent study on corporate legal departments found.

Help

OCIE director’s warning: Insufficient CCO support won’t fly

2020-11-19T21:42:00+00:00By

In a year turned upside down by the coronavirus pandemic, one thing hasn’t changed in the eyes of the SEC: The best compliance programs are supported by senior management and have adequate staffing, technology, and training.

COVID-Prep

Webcast: COVID-19 Employee Training

2020-11-16T15:00:00+00:00By Compliance Week

This one-hour Webinar covers what coronavirus pandemic training and education are needed to safely re-enter the workplace.

SEC

SEC enforcement priorities under Biden: Reading the tea leaves

2020-11-13T18:19:00+00:00By

Careful consideration as to what new tone, direction, and priorities the SEC’s Division of Enforcement will take under Joe Biden can help you reduce compliance risk.