Depressing news today for compliance officers worried about health and safety risks: drug use among the American workforce is at a 12-year high, across all types of workers and all types of drugs. So says Quest Diagnostics, the blood-testing firm that publishes its annual Drug Testing Index. Yes, the absolute percentage of workers snorting cocaine,…
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Don’t look now, but disagreement may be brewing among Republicans in Washington over the future of XBRL, the data-tagging technology that companies use when submitting financial statements to the SEC. On one side are Republicans in the House Financial Services Committee, who want to exempt a vast number of smaller public companies from filing financial…
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In this week’s Compliance Jobs Report we have a few new appointments at the SEC, a few ousters at FIFA, plus compliance officer appointments at USAA, Demantic, Ingram Micro, and Sanofi—and a dream compliance job for anyone who likes watching the ponies. I gather these bits of gossip from LinkedIn, news alerts, and friends emailing…
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A new report from the Society of Corporate Compliance & Ethics finds that most chief compliance officers don’t review incentive-based compensation for possible misconduct risk—an alarming conclusion, since incentive pay is often what causes misconduct in the first place. According to the report, which surveyed more than 400 compliance professionals, only 23 percent have opportunity…
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We all feel pressed for time, with a certain unease that demands of the day distract us from the deeper, more strategic success we really want to achieve. So find some space on your shelf for a new book addressing that exact problem: the Wildly Strategic Compliance Officer Workbook by Kristy Grant-Hart. Grant-Hart is the…
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We start this week’s compliance jobs report at the top: Jay Clayton has a new job as head of the SEC. We also have news from Cognizant, UT Health, Microsoft, plus a bundle of interesting job posts. And to top everything off, this week’s report is unusually funny. I gather these bits of gossip from…
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COSO plans to simplify its forthcoming framework for enterprise risk management, paring back some of the 23 proposed principles and renaming some of the framework’s five components, according to a project summary PwC has been circulating lately. A friend of the cause passed along that presentation to me earlier this week, and the framework’s development…
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On Monday the SEC hit a Korean microchip manufacturer, MagnaChip Semiconductor, with a $3 million fine for accounting fraud—an extensive scheme to falsify revenue for several years, that wiped out more than two-thirds of the company’s value to investors. We have two lessons to learn here. First, even amid all the anti-regulatory fervor of the…
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Compliance professionals may want to keep a sharp eye on Congress this week—House Republicans will be tinkering with regulatory reform legislation. Brace yourselves. The markup, as these sessions are called, will happen in the House Financial Services Committee starting on Tuesday. Lawmakers will chew over the so-called Financial Choice 2.0 Act (also known by its…
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The compliance jobs report starts this week with word that the head of compliance at Och-Ziff has departed, after helping her firm wrap up one of the larger FCPA enforcement actions of 2016. We also have a slew of gossip about who might help run the SEC, and new compliance appointments at General Cable, Air…
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