On Wisconsin and Cyber Risks

Wisconsin

IT audit professionals looking for a fresh example of cybersecurity risk to study should turn their gaze to Wisconsin. A voter fraud conspiracy theorist there uncovered what is indeed a legitimate risk to election integrity, and his discovery speaks volumes about taking a risk-based approach to design of internal controls. The gadfly in question is…

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Fresh Lessons on Management Fraudsters

fraud

One of the largest PR firms in the world is going through its own minor PR crisis this week, with its former CFO pleading guilty to embezzling $16 million from the firm over the course of nearly a decade.  Frank Okunak, who ran financial operations at PR firm Weber Shandwick from 2009 to 2019, pleaded…

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Compliance Jobs Report: July 29

compliance jobs

The Compliance Jobs Report this week has several hires at Freddie Mac; several departures from fintech firm Revolut; and other personnel news from Clear Channel, Western Union, Teleflex, FanDuel, and elsewhere. Job leads this week are in makeup, banking, and social services, all in New York City; and Meme of the Week goes out to…

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CCO Compensation Up 9 Pct

compensation

Attention, all you compliance officers negotiating a new pay package! We have a fresh CCO compensation survey that says average salary and bonus are at $430,000 this year, up 9 percent from 2020 levels.  Recruitment firm Major, Lindsey & Africa published the compensation report today. Much of the data relates to general counsels and other…

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Lessons in Cardiac Company Fraud Settlement

biotronik

A medical device company based in Oregon has agreed to pay $12.95 million to settle charges that it ran a sham training program as a vehicle to pay kickbacks to doctors, in a case that offers compliance professionals plenty of lessons about internal controls and third-party risk. The company is Biotronik, a maker of defibrillators,…

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Compliance Jobs Report: July 22

Compliance jobs

This week the Compliance Jobs Report has compliance hires at AB InBev, BW Offshore, the Global Fund, University Hospitals, and many more. Several compliance professionals have also left their jobs, we have numerous promotions to note, and all our job leads this week are in sun-drenched San Diego. Meme of the Week goes out to…

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Dispatches From IIA Conference

conference

The Institute of Internal Auditors held its global annual conference this week in Chicago, drawing together more than 1,700 audit professionals for its first in-person conference since 2019 to talk about internal controls, audit reports, working with boards, and lots more. Yours truly was on the scene, and I’ve pulled together some dispatches from social…

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Conflicts, Part II: A Process Perspective

conflicts

Last week we had a post on managing conflicts of interest that proved quite popular with compliance officers. Today I want to circle back to that subject because I also heard from several internal audit leaders, who had quite a different perspective on how to handle this challenge. Essentially, their view was that an organization…

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Compliance Jobs Report: July 15

compliance jobs

The Compliance Jobs Report is back, and with another big report! We have new hires at Leidos, HireRight, Wesco Distribution, McKinsey, and elsewhere; departures at MGM Grand and a few other places; promotions at Activision Blizzard and Allianz; and job leads in law firms, semiconductors, and more semiconductors.  As always, thank you to all the…

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Lawyer Busted on Fake Complaints Scam

Unbelievable story today from the annals of Compliance Professionals Gone Wild: the former lawyer for a Tennessee trucking company has been disbarred for fabricating employee complaints, which he then used to launch sham remediation hearings and pocket the settlement money himself by forging the employees’ signatures.  The lawyer in question is one Glen Ray Fagan,…

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