News
PCAOB Member Uncorks on Agenda
One of the five members of the Public Company Accounting Oversight Board blasted his own agency on Wednesday, saying that the regulator’s plans for the next 12 to 18 months are “a tragic mistake” that ignore the needs of investors and undermine the credibility of corporate financial reporting. The statement came from PCAOB board member…
Read MoreMystery in Deaths of Four Liberian Auditors
We have a grim reminder from Africa of the perils that risk assurance professionals face while fighting corruption: the chief auditor of the government of Liberia was found dead under mysterious circumstances over the weekend, and is the fourth Liberian government auditor to meet a suspicious end in two weeks. According to local news reports,…
Read MoreCompliance Jobs Report: Oct. 9
Another busy Compliance Jobs Report this week. We have hires or promotions at Walmart, Google, Triumph Foods, HSBC, Ericsson, and many more; plus a bundle of workplace milestones to note; and some useful news for audit professionals between jobs. Also three intriguing job openings, from California to Texas — to outer space! As always, thank…
Read MoreTrump Admin and Diversity Training, Part II
Don’t die of surprise at this news, but the Trump Administration is dragging Corporate America into its attacks on diversity training and racial equity. Compliance officers would do well to understand what’s happening and prepare accordingly. The action is happening along two fronts. First, President Trump issued an executive order on Sept. 22 that directs…
Read MoreJPMorgan’s Compliance Benefit
Well here’s something to take to the board as you’re planning the 2021 budget: the Justice Department hit JPMorgan this week with $920 million in penalties and disgorgement for commodities trading fraud — a penalty that could have been even larger but wasn’t, partly because the bank spent many millions improving its compliance program. The…
Read MoreCompliance Jobs Report: Oct. 2
The Compliance Jobs Report this week has several personnel items from Fresenius Medical Care, new hires at Sysco, Citigroup, Ericsson, and elsewhere, plus a bundle of promotions to note. We see that Facebook is still looking for a CCO, and our Meme of the Week goes out to internal control testing. As always, thank you…
Read MoreSEC Dings Two Firms on Internal Controls
For years regulators have talked about the importance of data analytics in enforcement actions. Now the SEC has demonstrated that point with two enforcement actions for poor internal control and earnings manipulation, driven by the agency’s in-house analytics team. So we can’t say nobody warned us. The enforcement actions were announced Monday, against a carpet…
Read MoreCompliance Jobs Report: Sept. 25
The Compliance Jobs Report this week has new hires at Visa, Google, and Sumitomo Mitsui, among other places. Also a bevy of promotions to note, and LRN has hired a new chief executive. We have job openings from Boston to Los Angeles, and our Meme of the Week goes out to anyone who received a…
Read MoreSEC Updates Whistleblower Awards Program
The Securities and Exchange Commission has, at long last, updated the rules for its whistleblower awards program. Among the changes: a presumption toward more generous awards at the lower end of the pay scale, restrictions on people who abuse the tipster process too often, and faster disposal of would-be tips that don’t meet the awards…
Read MoreTrump Admin Targets Princeton for Diversity
The Trump Administration has opened an investigation into Princeton University and its anti-racism efforts — claiming that because Princeton officials say the university needs to do more to fight racism today, perhaps the school’s previous attestations about compliance with federal anti-discrimination law haven’t been accurate. So says a letter the Education Department sent to Princeton…
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