Posts Tagged ‘pwc’
SEC Dings PwC on GRC Deal
The Securities and Exchange Commission has slapped audit firm PwC with a $7.9 million penalty for violating audit firm independence rules — including PwC implementing a GRC software system for one of its audit clients. An audit firm can’t do that, since those GRC software systems ultimately help employees assess the effectiveness of internal controls…
Read MorePwC’s Ethics Leadership After Tragedy
PwC is trying to recover from tragedy this week in a way that every ethics and compliance professional should applaud: by asking employees to confront difficult questions about race and empathy in America, in a statement directly from the firm’s U.S. leader. A risk assurance associate at the firm’s Dallas office, Botham Jean, was shot…
Read MorePwC 2018 State of Compliance Report
PwC released its annual State of Compliance survey on Tuesday, and let’s start with the angst: most compliance officers aren’t confident that their companies’ compliance programs are effective. Of the 825 professionals surveyed, only 17 percent said they are “very satisfied” with the effectiveness of their compliance programs. About 45 percent say they are somewhat…
Read MoreAnd the Oscar for Control Failures Goes to…
Internal control enthusiasts everywhere are performing a root cause analysis of what went wrong at the Oscars this weekend, so Radical Compliance might as well get a piece of that action too. After all, when was the last time a control failure was household news? The debacle, for those last few who haven’t yet heard…
Read MoreDo We Have a Problem With Compliance Risk Assessments?
This week I dove into PwC’s annual State of Compliance Report, reading the report itself and eavesdropping on a webcast with the PwC compliance gurus who wrote it. The study has plenty of data worth reading, and one conclusion from that data jumped out at me immediately. We have some disconcerting patterns emerging in how…
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