All Compliance Week articles in Web Issue – Page 1090
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ResourceThe coming wave of data privacy compliance challenges
Establishing an effective and compliant data privacy plan isn’t easy considering insufficient U.S. regulation, flaws with the EU’s GDPR, and Big Data feeding the beast.
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Blog
Amid likely defeat, May delays Brexit vote by MPs
Amid faltering odds that became apparent during three days of debate, British Prime Minister Theresa May has, at least temporarily, withdrawn her much-maligned Brexit plan from Parliamentary voting consideration.
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Blog
House plans hearing on CECL’s effect on economy, banks
The SEC may be hands-off with respect to CECL, but the House Financial Services Committee is exploring the expected effect of the accounting change on the economy.
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Blog
CAMs may drive more management disclosure, dry runs reveal
A pending requirement for auditors to disclose critical audit matters in their reports may compel management to take a closer look at their own disclosures.
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Blog
Revlon chief accounting officer tenders his resignation
Wendel Kralovich, chief accounting officer and controller for cosmetics company Revlon, has tendered his resignation to pursue a new career opportunity.
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Blog
New GAAP rules drive audit fee increases, poll says
New accounting standards and M&A activity are driving modest increases in audit fees for public companies, according to a new FERF survey.
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Blog
Coupa Software acquires Hiperos
Business spend management platform Coupa Software announced the acquisition of Hiperos, a third-party risk management provider.
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Blog
FASB chair dismisses any delay of lease rules
Amid technology challenges and minor changes to the pending new lease accounting rules, FASB is standing firm on the Jan. 1 effective date.
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Blog
Department of Justice investigating Grupo Aval
Grupo Aval recently received an inquiry from the Department of Justice concerning the Ruta del Sol 2 project, a highway project involving Brazilian construction company Odebrecht and one of Grupo Aval’s subsidiaries, Corficolombiana.
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Blog
FRC issues corporate governance principles for private companies
The Financial Reporting Council (FRC) issued its long-awaited corporate governance standards for private companies, providing a framework to help the companies meet legal requirements and improve and disclose their governance.
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Blog
PCAOB plans continued focus on review controls in 2019
The PCAOB saw some improvement in the audit of management review controls during its 2018 inspections, but it’s still an area of focus into 2019.
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Blog
May survives ‘no confidence’ vote over Brexit handling
British Prime Minister Theresa May withstood a parliamentary “no confidence” vote, keeping her efforts for a U.K. exit from the European Union on track, if not any less contentious and fragile.
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Article
Operational resiliency today
This latest installment of the CW/OCEG GRC Illustrated Series provides readers with details on how to implement a strategic approach to operational risk strategy coupled with an integrated information and technology architecture.
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Blog
GE audit committee considers replacing KPMG as auditor
GE’s audit committee has initiated a tender process to consider replacing KPMG as its external auditor.
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Blog
PCAOB names Megan Zietsman chief auditor
The Public Company Accounting Oversight Board announced that it has named Megan Zietsman chief auditor and director of professional standards.
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Blog
Walmart global CCO to leave company
Jay Jorgensen, the global chief ethics and compliance officer at Walmart, is leaving the company Jan. 31 to pursue other opportunities, according to an internal company memo. Daniel Trujillo, Walmart’s senior vice president and international chief compliance officer, will replace him.
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Article
CMA looks at tackling Big Four’s stranglehold of U.K. audit market
The audit market is facing serious scrutiny from the U.K. Competition and Markets Authority, which hopes to carve out external audit from consulting, impose a “joint audit” regime, and increase audit committee chair accountability.
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Blog
UBS Financial Services to pay $14.5M for anti-money laundering failures
UBS Financial Services has been ordered to pay a $14.5 million civil penalty for willful violations of the Bank Secrecy Act, the Financial Crimes Enforcement Network announced on Dec. 17.
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Blog
BNY Mellon to pay $54M for improper handling of ADRs
The Securities and Exchange Commission on Dec. 17 announced that Bank of New York Mellon will pay more than $54 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Blog
How Hain Celestial improved its revenue recognition practices
The Hain Celestial Group recently settled charges with the Securities and Exchange Commission resulting from weaknesses in its internal controls. Why the food company was not assessed a monetary penalty is where the compliance lessons lie.