A recent Webinar, and complementary report, from NAVEX Global offers a look at the top 10 risk and compliance trends for 2020.
Cyber-incidents, business interruption, and changes in legislation and regulation are the three biggest risks to companies globally, according to research by German insurer Allianz.
With the new year under way, we highlight some focus areas of accounting and audit regulators—SEC, PCAOB, and FASB—that should be top of mind for boards of directors.
How does your compliance campaign stack up? Does your compliance campaign monitor conflicts of interest?
Environmental, social, and governance factors are increasingly playing an influential role in the underwriting processes of global banks, according to a new report released by Fitch Ratings.
The killing of Iranian general Qassem Soleimani in a U.S. airstrike may bring about cyber warfare, the U.S. government has warned in a security bulletin.
Japan’s plans to launch a casino industry have been marred recently by a widening bribery scandal that highlights the compliance risks associated with the operation.
While Wawa continues to investigate the source of a widespread data breach that put thousands of customers at risk, its connection to a recent Visa alert suggests other retailers should be on the lookout for similar threats to their cyber-security infrastructure.
Compliance Week looks back at two decades of scandals, enforcement actions, and regulatory policies (2000-2019) that shaped the compliance function we see today.
Ensuring compliance with third-party risk management (TPRM) regulatory and cyber security requirements means having the right combination of processes and controls in place, and that you can efficiently demonstrate these processes and controls to auditors.
A new study from Protiviti and North Carolina State University not only highlights those risks companies should keep an eye on in the coming year—it also prompts leadership to explore whether or not they’re taking enough risks.
Boards of directors, audit committee members, and executive management teams interested in learning how to apply COSO’s Enterprise Risk Management framework to protect against cyber-attacks now have new guidance available.
From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.
Environmental, social, and governance disclosures are becoming common practice, but equally pressing is the regulatory compliance risk associated with non-disclosure or disclosures that are not accurate, truthful, or complete.
This webinar presents the results of a recent industry survey on Board oversight of third-party risk. In an environment of increased business risks, close to half (43 percent) of surveyed practitioners claimed that their board doesn’t have a good handle on third-party risk! Together with a dive into the results, ...
Allianz Global Corporate & Specialty’s latest report highlights five “megatrends” that will have significant risk implications for senior management in 2020 that should be of interest to compliance officers.
At CW’s Third-Party Risk Management and Oversight Summit, the head of Wells Fargo’s global TPRM group took a few pages out of biotech startup Theranos’ book to shed light on what not to do when building a risk culture.
This e-Book explores the need for effective risk management in the company supply chain.
Big technology firms like Amazon, Facebook, Twitter, and Google are a potential risk if they get more heavily involved in providing financial services, says the Financial Stability Board.
Speaking at CW’s Third-Party Risk Management and Oversight Summit, former FCPA Unit chief Kara Brockmeyer called attention to recent enforcement actions against Walmart and Ericsson as a way to highlight seven steps to third-party compliance.
Today, it’s imperative for companies to manage third-party risk as part of a comprehensive compliance program to protect their brand and avoid exposure to bribery and corruption.
Financial institutions are feeling more confident than ever about their compliance management practices, but they remain concerned about the “moving targets” of regulators, new research shows.
It is virtually impossible to move forward in business without vendor relationships, but having vendors also means having potential risk.
Fraud and restatements are happening every day, and it’s important to recognize that your company is consistently exposed to risk. Change is constant, and the stakes are high.
Smart uses of data analytics show companies can not only improve their compliance programs with technology, but actually create bottom-line results for their companies as well.
The latest edition of TRACE International’s annual Bribery Risk Matrix shows many of the same countries named in last year’s report are still struggling with business-related bribery risk. One country on the rise: the United States.
The National Highway Traffic Safety Administration has launched an investigation into electric-car company Tesla over potential battery defects that allegedly cause its vehicles to suddenly burst into flames.
An expert sheds light on behavioral science-driven solutions that help businesses prepare for a breach before it happens.
Research and advisory firm Gartner has released its annual “Audit Hot Spots” report, which reveals the three top risk areas for internal audit teams and chief audit executives in 2020.
Those in accounting who want to understand better the inherent risks, threats and vulnerabilities, and internal control best practices associated with the use of blockchain technology now have a first-of-its-kind framework to follow.
Learn how to eliminate manual processes and mitigate risks within your month-end close.
Now that RDC has carried out one trillion screens they assure you, efficient compliance screening is possible.
Your organization probably has some means for managing third-party risk, perhaps most urgently within the onboarding process, or maybe in response to regulatory demands. Yet you probably suspect that there remain untapped opportunities for reducing risk while at the same time reducing overhead. Or for gaining greater control over your ...
In today’s business climate, policy and procedure management is essential to stay in compliance and create a solid foundation that will enable organizations to communicate effectively, foster a sense of company cohesion, develop employee engagement, and reduce noncompliance.
The role board directors of public companies play in providing oversight and governance around business strategy, investments, and policies—and their focus on emerging issues—has reached new heights, according to the findings of BDO’s 2019 board survey.
The U.K. Financial Conduct Authority fined Tullett Prebon (Europe) Limited £15.4 million (U.S. $19.8 million) after its compliance department failed to implement adequate risk management systems.
Walmart, TechnipFMC, Fresenius—just to name a few—have all fallen prey to the Foreign Corrupt Practices Act in a record year of jacked-up enforcement and sky-high penalties.
In today’s ever-escalating regulatory environment, companies are expected to understand who they are doing business with. Ultimate Beneficial Ownership (UBO) is required on a mandatory basis for organizations that fall within the scope of AML and beyond. And while the legislation is complex and a challenge for most organizations to ...
In this “Ask Amii” mailbag, executive coach and former Chief Compliance Officer Amii Barnard-Bahn discusses the pros and cons of outsourcing compliance, breaking tough news to business partners, and how to transfer compliance skills out of finance.
NIST’s new draft Privacy Framework offers much-needed guidance to help companies align their data privacy and cyber-security risk management practices.
A former Biomet Argentina employee—in a bit of FCPA hot water—landed on his company’s restricted persons list, sued for defamation, and lost.
Compliance and procurement leaders see the value in using artificial intelligence, but far too many aren’t confident they have the right skills in place to use it, according to a new report from Dun & Bradstreet.
A new survey published by Deloitte highlights the latest trends—both opportunities and challenges—in companies’ journey toward a more mature extended enterprise risk management program, one in which third-party risk management is integrated across the firm and led from the top.
DoorDash announced an incident of unauthorized third-party access to user data—a reminder companies need to mind the cyber-security of vendors in addition to their own.
Guest columnist Alan Gibson explains how his role as assistant general counsel in Microsoft’s Office of Legal Compliance helped his transition into a world of managing risks through algorithms, machine learning, and digital solutions.
Options Clearing Corp. will pay a combined $20 million in penalties to the SEC and CFTC to settle charges that it failed to implement certain risk management policies as required by U.S. laws and regulator rules.
Digitization has ramped up the velocity of risk impact to breakneck speed. Organizations no longer have the luxury to simply check compliance boxes. They need to learn how to keep pace with a constant onslaught of new threats, changing regulations, and higher stakes.
In today’s shifting security and regulatory environment, ongoing third-party monitoring is crucial to compliance success. But how do you keep up with a constantly changing and growing list of vendors? This session will outline the keys to third-party risk management success through a modern approach to monitoring vendors.
Organizations are failing to solve the employee-spend challenge as travel and expense (T&E) transactions continue to suffer from non-compliance and fraud. Companies also have unnecessarily high audit costs and inadequate risk coverage thanks to manual testing of T&E transactions.
Amid pressure from Chinese authorities after initially not penalizing employees for taking part in the Hong Kong pro-democracy protests, two top Cathay Pacific executives have tendered their resignations.