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Mitigating auditor liability
Image: Audit committee and external auditors who fail to reasonably carry out their responsibilities increasingly are finding themselves in the crosshairs of the SEC’s Division of Enforcement. “Over the past few years, the staff has really put a lot of focus into financial reporting and auditing enforcement matters. That means ...
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News BriefDOJ, SEC charge owner of Pennsylvania companies of running $770M Ponzi scheme
The majority owner of a Pennsylvania investment firm faces 100 years of prison time and huge fines for allegedly running a $770 million Ponzi scheme centered on an ATM company he also owned.
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PremiumEmployees may fail to report fraud unless U.K. whistleblower protection is beefed up
In September, the U.K. will enforce its third “failure to prevent” offense under sweeping anti-corporate crime laws, but experts question whether it will actually change corporate behavior or embolden whistleblowers.