The Financial Reporting Council, Britain’s audit regulator, admonished KPMG once again for conducting poor audits. The FRC says the Big Four firm’s banking audits are not up to acceptable standards for the third year in a row. And KPMG isn’t alone as a target of the regulator’s criticism: Out of Read More
The European Commission has put forth a package of legislative proposals to strengthen the European Union’s anti-money laundering and countering terrorism financing (AML and CFT) rules, including standardizing rules regarding cryptocurrency. The set of proposed rules would create a new EU authority, the Anti-Money Laundering Authority (AMLA), a Europe-wide agency Read More
A federal judge has granted permission to fintech startup Ripple Labs to question a former Securities and Exchange Commission official about the agency’s policy decisions as the company fights accusations of misleading investors about its cryptocurrency. The decision gives Ripple the ability to depose the former director of the SEC’s Read More
Neiman Marcus has appointed Hannah Kim as new chief compliance officer and chief legal officer, effective July 26. Kim will oversee legal and compliance for the chain of luxury department stores and will work to “promote and protect the company’s overall business strategy,” the company said in an announcement. Kim Read More
Tone at the top is about humanity and not about words like compliance and regulation. It is about doing the right thing and we all know what that is in our hearts. It is about treating people with dignity and respect.
Akron General Health System, a regional hospital system based in Akron, Ohio, will pay $21 million to resolve allegations under the False Claims Act of improper relationships with certain referring physicians, resulting in the submission of false claims to the Medicare program. The settlement resolves charges that between August 2010 Read More
GUEST BLOGInternal auditors, compliance officers, and other “lines of defense” professionals are in unique positions to spot fraud and wrongdoing at the companies where they work. In most cases it is enough to report the problems to senior management or to the board of directors in situations where senior executives Read More
