SEC Asks Disclosure Reform Questions


The Securities and Exchange Commission is asking for opinions about the quarterly reporting system again, the latest volley in what could be a contentious debate in 2019 about corporate disclosure. The request for comment, published Tuesday, runs 31 pages long. It asks whether some disclosures in the Form 10-Q quarterly report could be abolished if…

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CBS Compliance, Culture Under Fire


Ethics & compliance officers may want to watch the latest corporate governance scandal unfolding at CBS, where the broadcaster’s chief compliance officer seems to have played the starring role in a whistleblower retaliation claim that cost CBS $9.5 million — and reminds us, yet again, how perilous it can be to subordinate ethics and compliance…

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Compliance Jobs Report: Dec. 14

Compliance jobs

Lots to cover in the Compliance Jobs Report this week! Foremost: Jay Jorgensen, chief ethics and compliance officer at Walmart, is leaving the company after six years on the job. His deputy, Dan Trujillo, takes over on Feb. 1. The PCAOB also has a new chief auditor; Nashville named its first chief compliance officer; plus…

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Latest Tips on Brexit Disclosure

Now that the British government is coming apart at the seams over Brexit, this might be a good time to revisit what companies should be disclosing to investors and the public about their exposure to Brexit risk. SEC chairman Jay Clayton has been talking up Brexit disclosure for several months, urging companies to give investors…

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Food Company Cooks the Books


The SEC settled charges with an organic foods company on Tuesday over internal control failures that led to several years of revenue manipulation, in a case with multiple lessons for the internal control community. We don’t see an internal controls case this large come along every day, so let’s digest. First, the background. The accused…

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Yet More PCAOB Inspection Hints


We have fresh intel on how the PCAOB may change its approach to inspecting audit firms, and what those changes might mean for the audit committees and internal audit executives who deal with the firms. All five PCAOB members appeared Monday at the AICPA’s annual public company accounting conference in Washington, and inspections were Issue…

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U.S. Regulators Warn on China


U.S. securities and audit regulators have issued an extraordinary warning that they are not getting the cooperation that they want from their Chinese counterparts, and that U.S.-listed companies with significant operations in China should prepare for more strained relations between U.S. and Chinese securities regulators. The message came in two parts: first, in a special…

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Boards Freaking Over Digital Risks

Protiviti has released its annual report on enterprise risks worrying the corporate boardroom, and across all 10 risks likely to occupy your time in 2019, one theme shines through — unease about corporations moving into a digital world. The report surveyed more than 800 senior executives and board directors around the world, across a host…

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Compliance Jobs Report: Dec. 7

compliance jobs

In this week’s Compliance Jobs Report we have compliance pros on the move at Zimmer Biomet, Mednax, Robeco Management, Novartis, and more. The University of Oklahoma has a finalist for its top auditor job; and Baker Hughes has begun looking for a successor to CCO Jay Martin. Plus a few cool job postings and our…

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PCAOB Inspection Priorities for 2019


The PCAOB has shared its plans for audit firm inspections early next year, with more focus on how audit firms manage their own operations and less perhaps emphasis on specific risk areas such as Brexit, oil prices, or changing interest rates. The PCAOB inspections outlook is useful foremost for audit firms, who want to know…

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