PCAOB 2020 inspections preview: Deficiencies still high, although some improvements
The Public Company Accounting Oversight Board noted a high number of recurring deficiencies in its audits reviewed despite improvements over the previous year as part of its 2020 inspection observations spotlight.
Real estate rationalization programs on rise amid COVID
As the COVID-19 pandemic continues and businesses make strategic changes in response, one of the primary areas of focus is managing where employees will work and evaluating real estate portfolios.
Compliance tips for effectively presenting data to key stakeholders
Metrics can either strengthen or distract from compliance’s message to key stakeholders. Jennifer Lee, a risk and compliance manager at Caterpillar, shared tips for accomplishing the former at a recent industry event.
FinCEN report: Ransomware SARs surge past 2020 totals
A Financial Crimes Enforcement Network report on financial trends in Bank Secrecy Act data found a greater number of SARs related to ransomware filed between January and June 2021 than during all of 2020.
SOS hand signal created for victims of modern slavery
U.K.-based philanthropic organization Stronger Together has created a new hand signal to empower victims of modern slavery to get help. Though developed for the construction sector, the signal can be adopted across any industry as a best practice.
How to respond to government’s renewed emphasis on cybersecurity
The Department of Justice’s new Civil Cyber-Fraud Initiative is the latest development to suggest companies’ cybersecurity defenses had better be up to snuff when doing business with the U.S. government or risk enforcement.
Metals Technology Initiative issues new anti-corruption resources
The Metals Technology Initiative has launched a new website making its guidance on gifts and hospitality and third-party due diligence freely accessible.
Ask a CCO: How do you get leadership to support compliance?
Seven senior compliance practitioners impart how to get leadership to understand the value compliance offers the business and commit to supporting ethical initiatives.
Ask a CCO: How to ensure right things done for right reasons
How do you encourage employees to do the right things for the right reasons? Seven senior compliance practitioners share what they and their respective companies do to best get results.
Ask a CCO: How do you prevent whistleblower retaliation?
Seven senior compliance practitioners detail the steps their respective companies take to ensure whistleblowers are not retaliated against when reporting potential misconduct.
Lessons learned from actions of Facebook whistleblower Frances Haugen
Many whistleblowers are forced to take their complaints outside the company because their attempts to address the problems internally are rebuffed or ignored. Facebook is paying the price for that inaction.
Ask a CCO: What makes a good internal reporting system?
Seven senior compliance practitioners explain what they believe to be the key tenets of an internal reporting system that encourages employees to come forward with reports of potential misconduct.
Ask a CCO: How do you encourage internal reporting?
Seven senior compliance practitioners share how they encourage employees to come forward with reports of potential misconduct in support of the greater mission of instilling a culture of compliance.
KPIs and collaboration: How Vivint, Agilent handle data collection
Compliance leaders from Vivint and Agilent Technologies shared how they are successfully integrating data intelligence into their organization’s operations at a recent Diligent virtual summit.
Anti-corruption leaders share upsides of remote compliance program
COVID-19 has altered how companies operate their anti-corruption compliance programs, but not necessarily for the worse, according to experts from PepsiCo and Cook Group who shared their experiences at a recent Diligent virtual summit.
ESG survey: Measure, monitor, and enhance your strategy
A Compliance Week and Fulcrum survey of more than 200 compliance, audit, legal, and finance executives worldwide revealed support for ESG initiatives, but uncertainty about how to monitor progress and measure results.
Report: China, U.S. most confident in combating corruption risks
Risk leaders at companies in China and the United States expressed the highest level of confidence in their approach to mitigating bribery and corruption risk, according to a new global benchmark report from Kroll.
The dos and don’ts of building a DEI program
NABCRMP Founder Jennifer Newton shared how to create a sustainable diversity, equity, and inclusion program that aligns with an organization’s mission during CW’s “Everything ESG” virtual event.
CAQ report: Climate-related risk considerations in audited financial statements
A recent Center for Audit Quality report aims to provide an understanding of how company management and their auditors apply current U.S. accounting and auditing requirements for financial statements related to climate-related risks.
Study: How COVID-19 has affected public company financials
Disruptions to normal operations and shifts in work environments as a result of the COVID-19 pandemic caused an increase in late filings and changes to controls, according to new research from Audit Analytics.
Survey: New SEC marketing rule leads investment adviser compliance concerns
Implementing the SEC’s new “marketing rule” for investment advisers tops the list of concerns among chief compliance officers in the industry, according to new research.
Why compliance must play part in sustainability initiatives
A recent poll of International Compliance Association members revealed a perhaps surprising appetite within the profession for seizing expanding sustainability responsibilities.
Study: Auditor assurance over ESG reporting still in early stages
Despite an increase in ESG disclosures that is expected to continue, a significantly low number of public companies have obtained audit firm assurance regarding that reporting, according to a new study.
FATF urges Japan to enhance AML/CFT measures
Japanese authorities have a good understanding of money laundering and terrorism financing risks, but certain areas of their AML/CFT framework could be further improved, according to a Financial Action Task Force evaluation report.
Banking guidance: Six key areas of FinTech due diligence
Three federal banking regulators have released guidance offering tips and suggestions to community banks for conducting due diligence on potential FinTech partners.
Changing accounting standards driving financial process remediations
In response to new standards affecting leases, revenue recognition, and credit losses, public companies have significantly changed their financial processes in the past year and are not done yet, according to data from Deloitte.
Attracting top talent post-COVID means living employee values
In emerging from the pandemic, the hiring landscape has changed. The companies to thrive in this environment will be the ones that quickly adapt and recognize the kind of care and attention their employees need.
COVID-19 vaccine mandates no less tricky after FDA approval
Determining the best way to get your employees vaccinated against COVID-19 means considering a handful of key issues, in addition to being prepared for difficult conversations.
Pandemic not slowing rising AML fine totals, report says
Kroll’s latest annual enforcement review identified $2.2 billion in AML fines in 2020 compared to $444 million in 2019. The first six months of 2021 indicate a similar pace to last year.
BSI guidance offers whistleblower management best practices
The British Standards Institution has created international guidance to help companies set up an effective whistleblowing management system.
‘Intentional Integrity’ urges conviction in tackling ethical dilemmas
In his book, Rob Chesnut, former chief ethics officer at Airbnb, teaches business leaders how to weave ethics into the fabric of a company’s culture and ensure a little pulling on the integrity thread will not cause the firm to unravel.
One-on-one with Richard Jones: What lies ahead at FASB
A year into the job, FASB Chair Richard Jones catches up with Compliance Week regarding recent improvements to major accounting standards, ongoing projects, future topics of interest, and more.
Six ways to mitigate a bad day at the office
Bad days differ for everyone, but there are steps we can take to make them less likely or easier to handle. These six tips might help the compliance professional and their business as a whole when the going gets tough.
GDPR fines worth appealing? Factors to consider
Experts weigh in on the results of a report from the European Data Protection Board showing which countries have seen the most GDPR fines annulled or modified following court appeal.
FINRA notice outlines key areas for supervising third parties
The Financial Industry Regulatory Authority issued a notice on compliance deficiencies arising from firms’ relationships with vendors culled from examination findings.
Benchmark report explores roadblocks for leadership commitment to compliance
Most risk and compliance professionals feel their senior leaders and managers demonstrate a commitment to their programs overall, but only on a conditional basis, according to the latest NAVEX Global benchmark report.
ICA roundtable: Five tips for filing more effective SARs
A recent roundtable explored the anxieties compliance officers face in filing suspicious activity reports and offered advice for overcoming such difficulties.
Compensation report shows CCOs rewarded for pandemic work
Public-sector chief compliance officers in healthcare and life sciences made more than half a million dollars in total compensation in 2020, part of a wave of annual salary increases across the board represented in the latest compensation survey by BarkerGilmore.
2021 benchmark survey: Current state of risk and compliance integration
Compliance Week and Riskonnect are conducting a survey to find out more about how companies are integrating their risk and compliance functions. Please take five minutes to help inform your colleagues.
LRN survey: E&C programs thrive when boards are engaged
The more boards are engaged in measures of ethics and compliance, the more positive an impact on corporate culture, leadership, and business decisions, a new report from LRN finds.
What factors are driving change in your corporate investigations process?
A recent survey from Compliance Week and OpenText reveals while investigations and data volumes are on the rise, machine learning combined with external expertise may give companies the upper hand in accelerating response and results.
ICA roundtable: Are companies ready to trust AI?
A recent roundtable on managing resources while confronting regulatory change looked at the importance of balancing machine learning and artificial intelligence with human intelligence and intervention.
Q&A: How Kaiser Permanente has handled change brought by COVID-19
Vanessa Benavides, chief compliance and privacy officer and senior VP at Kaiser Permanente, shares how the company adjusted its policies and procedures because of COVID-19 and the lessons she learned along the way.
Five pieces of advice for potential whistleblowers
Thinking of becoming a whistleblower? The path ahead likely won’t be easy. Learn from others that have been through the process.
Report: Human trafficking undeterred by COVID-19
While many aspects of life over the last year have stagnated because of the pandemic, human trafficking has not slowed down. A new report from the U.S. Department of State explores the latest trends.
Seven things whistleblowers want compliance officers to know
Aaron Nicodemus explains what whistleblowers, their supporters, and advocates would like compliance officers who handle internal complaints to understand about the process from their side of the table.
The importance of transaction monitoring, and the cost of getting it wrong
Transaction monitoring has evolved to the point where the emphasis is now on the requirement firms carry out ongoing monitoring of client relationships. Recent enforcement actions provide lessons on pitfalls to avoid.
We bet you’ll love us: Free CW access for month of August
For the month of August, we’re tearing down our paywall. Readers can access our entire archive of news, benchmarking surveys, special reports, case studies, and Webcasts by simply creating a free account and signing in.
Three ideas to improve the whistleblowing process
It’s important to take stock of how far whistleblowing has advanced over the last few years. That said, there is still room for improvement. Aaron Nicodemus offers three suggestions.
Part 5: Waiting for payout a grueling test of tenacity for whistleblowers
The road to a payout for whistleblowers is long, lonely, and full of obstacles. Commitment to the idea that they are doing the right thing helped our whistleblower subjects endure years of hardship to bring their cases to conclusion.