News

Walmart Compliance Exec Tapped for Bench

bench

We rarely report personnel news outside the Compliance Jobs Report on Fridays, but this one is worth it: President Trump has nominated Walmart’s head of anti-corruption compliance to serve as a federal judge in Arkansas.  The nominee is Lee Rudofsky, who has been Walmart’s head of anti-corruption compliance for one year. Rudofsky also served as…

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Compliance Jobs Report: June 28

compliance jobs

The Compliance Jobs Report this week has people moving on at Starbucks, moving upstairs at Blumont, and moving in at Nordea, Tornio Capital, and a few cryptocurrency startups. Two GRC vendors are consolidating into one bigger vendor; we have job openings to note from New Jersey to Montana to Texas. And our Meme of the…

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SOX Compliance: Costs Down, Hours Up

404(b)

Protiviti has released its annual study of SOX compliance costs — a mixed picture where compliance costs are drifting downward overall, even while the hours spent doing SOX compliance work are on their way up. The report polled nearly 700 finance or audit executives. Frankly, the statistics about SOX compliance costs don’t tell us much,…

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Internal Control Airball at Sacramento Kings

Sacramento Kings

Talk about a flagrant foul: The former chief revenue officer for the Sacramento Kings was sentenced Monday to seven years in federal prison, for duping some of California’s largest businesses into wiring $13.4 million to bank accounts he secretly controlled so he could buy beachfront homes on the California coast. Jeffrey David worked as the…

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Real Meaning of the Walmart Case

Walmart fcpa

All weekend I’ve contemplated what to say about Walmart’s FCPA settlement. Quick minds in ethics and compliance have already pumped out paragraph after paragraph dissecting the case, and more minds will pump out more paragraphs still, before everything is said about this landmark case. Except, the Walmart case isn’t a landmark, really. Read the statement…

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Compliance Jobs Report: June 21

compliance jobs

The Compliance Jobs Report this week has a new commissioner at the SEC; personnel shifts at Realogy, Danske Bank, Natural Fuel, Dr. Reddy’s Labs, and more. We also have four job openings this week, a smattering of other gossip, and our Meme of the Week goes out to Walmart. I gather these bits of information…

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Insights From Navex Benchmarking Report

Navex Global has published its latest annual ethics & compliance benchmarking report, a deep dive into all sorts of activities and priorities among corporate compliance programs. It’s a great document to help compliance officers place their own issues in larger context, so let’s take a look at what Navex had to say. Typically Navex publishes…

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Questions on KPMG Ethics Fiasco

kpmg

By now you might already know the news: KPMG, one of the largest audit firms in the world, has agreed to pay $50 million to the Securities and Exchange Commission to settle charges from two separate scandals at the firm — one related to KPMG partners offering jobs to audit industry regulators in exchange for…

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IIA Proposes Three Lines Update

internal audit

Internal audit professionals, fire up your keyboards. The Institute of Internal Auditors is calling for public comment about possible updates to its Three Lines of Defense model of risk assurance. The proposed updates are now available on the IIA’s website. You can download, read, and ponder them at your leisure; and start offering feedback on…

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Compliance Jobs Report: June 14

compliance jobs

The Compliance Jobs Report this week moves from Groupon (losing its CCO) to Walgreens Boots (new anti-corruption chief), to more personnel moves at Convertus, Huntington Bank, a bundle of Brazlian businesses, and elsewhere. We have work anniversaries to celebrate, job openings to note, and our Meme of the Week goes out to Code of Conduct…

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