Surveys & Benchmarking


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Ask a CCO: What’s your strategy for preventing and detecting data breaches?

2021-03-04T13:40:00+00:00By Compliance Week

Five senior compliance practitioners outline their strategies for protecting their firms from data breaches.

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.

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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.

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Ask a CCO: What’s your role in creating/implementing cyber-security policies?

2021-03-02T18:16:00+00:00By Compliance Week

Five senior compliance practitioners share insights on their roles in implementing and overseeing cyber-security policies and procedures.

LifePoint

Battling cyber-threats takes collaboration between compliance, information security

2021-03-02T16:54:00+00:00By

LifePoint Health’s VP for Compliance Program Operations/Chief Privacy Officer Ellen Hunt and VP/CISO Andy Heins share how they work ”hand in glove” to protect their company’s data from bad actors.

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.

askamii

Best practices for navigating political discussions among coworkers

2021-02-23T15:32:00+00:00By

It’s not realistic to outright ban talk of politics with coworkers, but in today’s polarized climate it’s smart to set policies and educate employees about lines that should not be crossed.

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.

world map outsourcing offshoring 2021

Done right, outsourcing compliance can be rewarding

2021-02-18T19:56:00+00:00By

Should you consider outsourcing some of your firm’s compliance functions? Perhaps, even, all of them? The answer is complicated and requires a thorough analysis of the risks and rewards.

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.

Cyber-guard

Survey: Firms enhanced cyber-security in 2020, but not enough

2021-02-17T14:26:00+00:00By

Companies forced to pivot to remote work in a global health crisis spent the bulk of 2020 grappling with heightened cyber-security risks. A year later, compliance practitioners say their companies’ cyber-security postures are better for it—even in the wake of the stunning SolarWinds hack.

AML-Europe

ACAMS survey: FinCEN Files leak a positive for financial industry?

2021-02-11T20:51:00+00:00By

Many compliance professionals in the financial industry believe last year’s leak of 2,100 suspicious activity reports from FinCEN had an overall positive impact on global efforts to fight financial crime, according to an ACAMS survey.

ESG

Companies not reporting ESG initiatives are in the minority

2021-02-10T21:50:00+00:00By

Several reports highlight the growing trend of companies recognizing the value of aligning their business models with ESG concerns, acceding to the demands of shareholders, activists, the market, and the public.

Margaret Richardson

Q&A: Global Widget CCO says CBD industry at regulatory ‘tipping point’

2021-02-09T20:47:00+00:00By

Global Widget Chief Compliance and Legal Officer Margaret Richardson talks with Compliance Week about how the company’s focus on federal and state compliance lends to leading the way in the currently unregulated cannabidiol industry.

PCAOB 2019 inspections Big Four

PCAOB 2019 inspection reports: Deloitte still tops; PwC deficiency rate rises again

2021-02-08T21:52:00+00:00By

Three of the Big Four audit firms—Deloitte, EY, and KPMG—improved their year-over-year deficiency percentage in the PCAOB’s 2019 inspection reports, while PwC’s deficiency rate increased for the third straight year.

Risk

FINRA report: Top risk areas for AML, cyber-security

2021-02-05T20:31:00+00:00By

The Financial Industry Regulatory Authority has published a new report designed to help inform member firms’ compliance programs by providing annual insights from its examinations and risk monitoring programs.

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.

SolarWinds

SolarWinds hack turning into Pandora’s box of cyber-risk

2021-02-02T20:47:00+00:00By

The more we learn about the SolarWinds hack, the more troubled compliance officers should be by the scope and breadth of the risks their companies might have incurred.

Maria Vullo

NYDFS regulation a best-practices model for cyber-security training

2021-02-01T17:05:00+00:00By

Companies must make cyber-security a continuous priority as threats evolve, often more quickly than the technology and regulations to counter them. That’s why the New York Department of Financial Services, under Maria Vullo, developed a policy that should act as a model for organizations.

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.

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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.

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.

Privacy data access

Three best practices for handling GDPR and CCPA ‘right of access’ requests

2021-01-22T18:36:00+00:00By

A panel discussion on a recent Webcast analyzed common data subject access request compliance challenges, as well as leading practices designed to best comply with the EU’s GDPR and the CCPA in the United States.

ICADiversity

White paper: Advancing diversity and inclusion in the compliance world

2021-01-22T15:22:00+00:00By

Four in 10 compliance professionals have experienced discrimination in the workplace at some point during their career, according to a recent survey by the International Compliance Association.

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.

Accounting fraud

Common themes from financial statement fraud SEC enforcement actions

2021-01-12T18:33:00+00:00By

A new report from the Anti-Fraud Collaboration analyzes the most common financial statement fraud themes noted in SEC enforcement actions and offers insights to mitigate the top risk areas.

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.

askamii

What’s your worth? Succeeding in compliance pay negotiations

2020-12-29T19:00:00+00:00By

Whether you are asking for a pay raise in your current role or negotiating compensation in a new role, executive coach Amii Barnard-Bahn offers tips to help ensure you are paid equitably for the work you do and value you bring to your organization.

Global

Report: Fines against financial institutions hit $10.4B in 2020

2020-12-22T21:14:00+00:00By

Financial institutions have been hit with $10.4 billion in global fines and penalties related to AML, KYC, data privacy, and MiFID regulations in 2020, according to a recent Fenergo report.

BusinessDecisions

How compliance officers can apply COSO’s ERM Framework in practice

2020-12-22T20:49:00+00:00By

Representatives from the Committee of Sponsoring Organizations of the Treadway Commission and its partners explain how to implement the organization’s latest guidance on identifying, monitoring, and mitigating compliance risks.

SolarWinds

Cyber-security lessons from the SolarWinds hack

2020-12-18T15:44:00+00:00By

The lessons from the massive SolarWinds hack on where vulnerabilities still lurk in the third-party vendor supply chain cannot be grasped soon enough.

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.

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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.

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.

Analytics

Regulators catching up on use of analytics; compliance better take notice

2020-12-14T19:23:00+00:00By

If your company isn’t making optimal use of data to enhance its compliance program, now is the time to start—before it’s too late.

Kolster quote

Ask a CCO: How to meet data analytics expectations of both board and regulators

2020-12-14T16:49:00+00:00By Compliance Week

Six senior compliance practitioners share some big-picture thoughts on how their companies are using data within the context of regulators’ increased expectations in the area.

Joe Biden

How will Biden administration impact compliance

2020-12-09T14:38:00+00:00By Compliance Week

Six senior compliance practitioners reflect on how they anticipate the Joe Biden presidency, and the expected regulatory changes coming with it, will impact the compliance function.

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.

Asia globe

Asia corruption report cites government issues, bribery prevalence

2020-11-30T19:32:00+00:00By

Transparency International’s latest look at corruption and bribery trends in Asia reveals issues at the highest ranks of government, particularly at the parliamentary and senate level.

Climate

KPMG report: World’s largest companies slow to address climate change risks

2020-11-24T17:21:00+00:00By

The world’s 250 largest companies are not doing very well in recognizing and measuring financial risks related to climate change, so we’ve got some advice to those who are behind the curve.

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.

world-map

2020 TRACE Bribery Matrix: U.S. falls from top 20; China on the rise

2020-11-19T21:24:00+00:00By

TRACE International’s 2020 Bribery Risk Matrix has the United States trending downward in multiple areas of business-related bribery risk.

AILaw

Survey: Machine learning will (eventually) help win the war against financial crime

2020-11-17T16:45:00+00:00By

While the war against financial crime wages on, machine learning and artificial intelligence may give financial institutions the upper hand, according to a recent survey.

Dr. Kurt Michels

Volkswagen CCO Kurt Michels: Tips for surviving a monitorship

2020-11-12T21:06:00+00:00By

Fresh off his company’s compliance monitorship, Volkswagen CCO Kurt Michels shares ways to cultivate a trustful relationship with a monitor; finesse a company’s cultural makeover; and reestablish credibility in the wake of criminal behavior.

Data globe

Guidance for safe data transfers post-Privacy Shield

2020-11-12T20:21:00+00:00By

The European Data Protection Board has issued guidance to help companies transfer data to the United States and other third countries safely after Europe’s top court in July ruled key methods used up until then were either invalid or unsafe.

Compliance executive level

COSO report: Elevating compliance leads to more informed decision-making

2020-11-11T22:35:00+00:00By

Many compliance departments are not independent, but instead report to other departments. COSO recommends compliance be separated out into its own division, led by a chief compliance officer with an executive-level position.