Posts by Matt Kelly
The Biden Administration & Compliance
Well, thank the Lord this is ending. The Trump Administration has given the United States (and the world) four years of ignorance, incompetence, immorality, greed, divisiveness, and corruption. President Trump has been a singular menace to this country and the American experiment; and also to corporations that have struggled to navigate the cultural divisions Trump…
Read MoreCompliance Jobs Report: Nov. 6
This week’s Compliance Jobs Report is another big one: news from Citigroup, UniCredit, New York University, Smucker’s, Philip Morris International, and many more. If you’re looking to drink beer on semi-tropical islands, we have a job lead for you; and our Meme of the Week goes out to everyone sick of election news. As always,…
Read MoreCritical Audit Matters: Are CAMs a Snoozer?
The Public Company Accounting Oversight Board just published three reports on the implementation of critical audit matters, all suggesting that the inclusion of “CAMs” in an audit report simply isn’t that big a deal. The research, published with little fanfare last week, found no strong evidence that CAMs drive up audit fees or delay the…
Read MoreCompliance and Career Turbulence
Earlier this week I had the privilege of speaking on a webinar about career security for compliance officers these days, given all the tumult of the pandemic this year and of broader business trends that have been affecting the profession for quite some time. There are a lot of hazards ahead for compliance folks but…
Read MoreCompliance Jobs Report: Oct. 30
Our Compliance Jobs Report for Halloween has personnel news from VF Corp., ServiceNow, AbbVie, American Outdoor Brands and more. Also a flock of career milestones to note; one big compliance software vendor has acquired a smaller one; and we have job openings to note in education, research, and more education and research. As always, thank…
Read MoreLiquor Case Gins Up FCPA Lessons
Here’s something you don’t see every day: the Justice Department hit spirits manufacturer Beam Suntory with a $19.5 million fine on Tuesday for a bribery scheme in India — where the company got an extra punch in the pocketbook for failure to cooperate fully or to coordinate the Justice Department FCPA investigation with a separate…
Read MoreGoldman Sachs, FCPA, and Internal Controls
Now that we’ve all had the weekend to contemplate the massive Goldman Sachs FCPA enforcement action from last week (because that’s how we all spend our free time, right?), let’s return to an issue that’s been on my mind since the settlement was announced. How does a company strengthen an internal control, when that control…
Read MoreCompliance Jobs Report: Oct. 23
The Compliance Jobs Report this week has new compliance chiefs at Google and Hormel Foods; a slew of promotions; and several work milestones to note. We have job openings in healthcare, data analytics, and storage space — and our Meme of the Week goes out to Borat! As always, thank you to all the compliance…
Read MoreGoldman Sachs’ Giant FCPA Deal
All right compliance professionals, it’s here: Goldman Sachs has agreed to pay $4.3 billion to settle corruption charges for its role in the 1MDB scandal — making Wall Street’s premier investment bank responsible for the largest criminal penalty in FCPA history. U.S. regulators announced the news today, although rumors of a settlement had been swirling…
Read MoreCitigroup, Part IV: Compliance Risk
We finish our examination of the Citigroup enforcement action with a look at the issue most dear to compliance officers’ hearts: compliance risk, and how Citigroup needs to improve its compliance risk management function to meet regulators’ expectations. First, the backstory. On Oct. 7 the Office of the Comptroller of the Currency levied a $400…
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