Compliance

Archives contain a wealth of information about an organization – data that can be analyzed in order to gain intelligence about an organization and deep insight into its operations. Consequently, instead of deploying and maintaining an archive solely for defensive purposes, next-generation archiving solutions can be deployed to mine meaningful data from archived information in order to help decision makers...

Several months after the DOJ’s announcement of its intention to focus on prosecuting individuals responsible for corporate misdeeds, the impact of the Yates Memo is being made clear. If corporations want cooperation credit, the DOJ expects FULL cooperation. The problem is that the DOJ’s all-or-nothing approach makes companies reluctant to cooperate.

Are the problems revealed by the Panama Papers anything new? Absolutely not. Unreported offshore accounts are hardly a novel phenomenon. If it’s an original approach you’re looking for, here you have it: from now on, banks and financial service firms will be required to exercise prudent skepticism when performing due diligence.

ADP has surveyed 700+ mid-sized business owners and senior executives and found that their biggest concern lies in the ever-growing mountain of government regulations – even surpassing their anxiety about ACA legislation and health care costs, the two top concerns in ADP’s 2013 and 2014 studies. Tom Perrotti, President of ADP’s Major Account Services, provides tips on how to navigate...

On Sunday the world got a peek into how and where the ultra rich and dozens of current and former world leaders hide their wealth, and the fallout has already begun. Given the ethical implications of being outed in the leaks, government officials and leaders at organizations including FIFA and Transparency International who’ve been named are coming under fire.

The interaction between audit committees and management can be frustrating. Audit presents identified risks, and leaders want context. Management doesn’t want to be seen as uncooperative, but even the slightest push back can be perceived that way. Poor internal control design may be the driving force behind this ongoing debate.

In the wake of a government investigation or prosecution, it’s expected for an organization to shore up their compliance programs. Closing the gap that caused the initial problem is only logical. What doesn’t make sense, however, is implementing overly restrictive controls and overblown processes that look good on paper but offer little substance in terms of results.

Several significant GRC events transpired in March, and the outlook globally regarding anti-corruption compliance looks more grim all the time. Terrorist groups and other criminal organizations lean heavily on money laundering to finance their activities, so the international compliance community must band together to take a stand and shut this activity down.

Although internal audit, compliance and risk management functions play separate roles in helping organizations identify and mitigate risk, increasing demands and a stronger need to act quickly are fostering new demands for growing collaboration among these groups.

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The Yates Memorandum, issued in September, may be the memo that launches a thousand investigations. In their efforts to combat fraud and misconduct, the DOJ and SEC have pledged to hold individuals accountable for corporate misdeeds. And perhaps it’s senior executives and audit committee directors who’ll be feeling the pressure most.

Risk and compliance self-assessments aren’t the truest indicators of actual risk exposure. So you could say there’s an inherent risk in performing a risk self-assessment. Not only is there no real science behind them, the outcome of an RCSA is entirely subject to one’s memory. A self-assessment can be a good jumping-off point, but it can’t be your sole method...