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Report: Misalignment on Risk Management

risk management

The Institute of Internal Auditors just dropped an unsettling new report on the state of risk management. Namely, corporate board directors believe their organizations are better at managing key risks than corporate executives do — and an uncomfortably high number of executives and directors say that misalignment is OK.  The report, OnRisk 2020: A Guide…

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PCAOB Shakeup! What It Means for You

pcaob

The audit and compliance community rarely sees a stealth news dump from regulators over a long weekend, but we have some now: SEC chairman Jay Clayton is replacing the leading cybersecurity expert on the Public Company Accounting Oversight Board with a White House aide. Kathleen Hamm, a member of the PCAOB since January 2018, will…

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Compliance Jobs Report: Oct. 11

compliance jobs

Another huge Compliance Jobs Report this week! We have compliance and audit folks departing Nissan, General Motors, Healogics, and Barclays; others are joining Aerie Pharmaceuticals, Walgreens Boots Alliance, OrthoSensor, and elsewhere. We have our first compliance officer seeking public office in 2020, three job openings, a few CCOs moving into consulting world, and much more. …

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Deregulation News: Calm Yourselves

deregulation

Cool your jets, all you compliance professionals who might be giddy at President Trump’s latest broadside over government regulation — most of the regulatory guidance you encounter on a daily basis is not covered by what Trump announced this week. For those who missed it, Trump issued two executive orders Wednesday meant to curb the…

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New Guidance on Inability to Pay Penalties

inability

The Justice Department has published fresh guidance about how it will evaluate a company’s claims that it can’t afford to pay monetary penalties, for all you legal and compliance officers trying to convince everyone that your firm lives in the poorhouse.  Assistant attorney general Brian Benczkowski announced the new guidance Tuesday while giving a speech…

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Compliance Jobs Report: Oct. 4

Compliance jobs

The Compliance Jobs Report this week has news of new compliance hires at GE Aviation, Welbit, UCB, Bechtel, and a bunch more places; plus promotions at Olympus Corp. and Keck Medicine. Compliance officers who are railroad buffs have a job opening to consider, and our Meme of the Week goes out to compliance officers at…

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Graphics Firm Draws $10M FCPA Settlement

fcpa

A global printing and graphics business based in Wisconsin has agreed to pay $10 million to settle FCPA charges with the Securities and Exchange Commission, in an eye-popping case with misconduct that included bribes to judges, sales to Cuba, and just about every corporate compliance mistake a company could make. The company in question is…

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Compliance Jobs Report: Sept. 27

compliance jobs

Lots of news in the Compliance Jobs Report this week! We have compliance hires at Walmart, TIAA, Agilent Technologies, and Nyrstar; another departure from Danske Bank; a new CEO at LRN; and a bundle of intriguing new job openings. Our Meme of the Week goes out to whistleblowers everywhere. I gather these bits of information…

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Big: Senators Intro Whistleblower Fix

retaliation

A bipartisan group of senators has introduced legislation to undo the damage of the Digital Realty Trust decision from the Supreme Court last year, which said that employee whistleblowers must first report their allegations to the SEC if they want to claim whistleblower protections under the Dodd-Frank Act. This legislation from the Senate follows similar…

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SEC Dings PwC on GRC Deal

grc

The Securities and Exchange Commission has slapped audit firm PwC with a $7.9 million penalty for violating audit firm independence rules — including PwC implementing a GRC software system for one of its audit clients.  An audit firm can’t do that, since those GRC software systems ultimately help employees assess the effectiveness of internal controls…

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