All Compliance Week articles in Web Issue – Page 587
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Blog
Former CFO of American Realty Capital Partners charged with accounting fraud
The Department of Justice and the Federal Bureau of Investigation recently announced the unsealing of an indictment in federal court charging Brian Block, former chief financial officer of American Realty Capital Partners (ARCP), with fraudulently inflating a key metric used to evaluate ARCP’s financial performance. Jaclyn Jaeger reports.
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Blog
Stuart Delery joins Gibson Dunn
Stuart Delery, former Acting Associate Attorney General of the U.S. Department of Justice—the third highest ranking position—will join international law firm Gibson, Dunn & Crutcher as a partner.
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ArticleSteve Naughton: Evolving with the profession
Steve Naughton has held high-profile compliance and ethics jobs at Pepsi and Kimberly-Clark. As he moves onto a new challenge, he reflects upon a career that has continually evolved and the changing corporate mindset regarding compliance.
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Blog
Timken appoints chief accounting officer
The Timken Company, a global manufacturer of bearings, has appointed Shelly Chadwick as chief accounting officer, effective Nov. 1. Her appointment follows the planned retirement of J. Ted Mihaila, senior vice president and corporate controller, on Dec. 1 after more than 41 years of service with the company.
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Blog
Visibility into T&E fraud with Insights On Demand
Oversight Systems, an operational expense analysis company, has released the newest version of Insights On Demand with scalable capability to reduce fraud, waste, and abuse related to corporate travel and expense transactions.
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Blog
SAP enhances tools for IFRS compliance
SAP has released the latest enhancements to its revenue accounting platform designed to help CFOs and chief accounting officers master the new IFRS 15/ASC 606 standards. These new accounting standards apply to all entities — public, private, and not-for-profit — that have contracts with customers and will supersede virtually all ...
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ArticleBrexit uncertainty forcing review of supply chains
Jaclyn Jaeger looks at the results of a recent survey from the Institute of Supply Chain Management to answer whether supply chain executives fear Brexit will have a negative financial effect on their companies.
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Blog
Senators will grill Wells Fargo CEO about illegal accounts
Wells Fargo executives will testify before Congress this week amid revelations that employees opened unauthorized deposit and credit card accounts in their pursuit of sales targets and bonuses. Joe Mont reports.
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Blog
CFA Institute: Use data structuring, like XBRL, end to end
Analysts are calling on public companies and regulators to reduce error and improve utility by using structured data like XBRL throughout financial reporting. Tammy Whitehouse reports.
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Article
Compliance clauses can keep third parties in line, regulators at bay
Even small companies have gone global and rely on a broad network of business partners. Those relationships, however, bring with them risks and potential regulatory hazards. Joe Mont discusses adding compliance and ethics clauses to contracts as a baseline for any third-party relationship.
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Article
Debate over CFPB’s arbitration rule intensifies in comment letters
The CFPB has received some 13,000 comments in a fierce debate over its proposed rule to limit the use of binding arbitration for resolving disputes associated with financial products. Joe Mont explores.
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Blog
A culture of sexual harassment
Columnist Richard Steinberg looks at the sexual harassment suit against Fox News CEO Roger Ailes and its impact on corporate culture, asking, “What to do when the CEO is also chairman?” That’s why board independence is so important, says Steinberg.
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Article
U.K. FCA issues strong new financial crime reporting rules
Taking issue with numerous reports that London is an ideal environment for money laundering and other financial crimes, the city is fighting back, writes Neil Hodge.
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Article
Audit committees: Here’s your wake-up call on auditor independence
Recent legal spats should alert public companies that they need to decide for themselves whether their audit is being delivered by a truly independent auditor. Tammy Whitehouse has more.
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Article
I’m alright, Jack: worker representation on boards
As new U.K. Prime Minister Theresa May has recommended worker representation on company boards, the question arises: Would this be better handled by promoting voluntary adoption, or by setting legal requirements? Paul Hodgson reports.
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Blog
Internal controls: trust but verify
Tom Fox looks at the recent scandal at Wells Fargo leading to the Consumer Finance Protection Board’s $185 fine and the firing of more than 5,000 employees after basically telling them: “It’s OK to break the law, as long as we make money.”
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Article
Federal contractors brace for insider threat rule
A new Department of Defense rule requires contractors to detect, deter, and mitigate insider threats. But how they should achieve that leaves plenty of gray areas, which does not sit well with contractors. Jaclyn Jaeger reports.
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Blog
FIFA opens formal proceeding against Sepp Blatter
The ethics committee of the Fédération Internationale de Football Association, the international governing body of professional soccer, has opened formal proceedings against Sepp Blatter, the disgraced former head of FIFA, for engaging in bribery and corruption. Jaclyn Jaeger reports.
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Blog
SEC charges two firms with compliance failures in wrap fee programs
Two investment advisory firm—Raymond James & Associates and Robert W. Baird & Co.—settled charges with the SEC related to compliance failures within their wrap fee programs. Jaclyn Jaeger has more.
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Blog
Innophos Holdings appoints corporate secretary
Innophos Holdings, an international producer of performance-critical and nutritional specialty ingredients, has appointed Joshua Horenstein as chief legal officer and corporate secretary. In this position, he will serve as the company's general counsel and lead legal expert to advise and provide strategic legal direction and execution for the global organization.