The Securities and Exchange Commission and Fiat Chrysler Automobiles N.V., a London-based public company that sells vehicles through its Michigan-based subsidiary, agreed to settle charges that Fiat made misleading disclosures about an internal audit of its emissions control systems, according to a SEC press release. The SEC found that in Read More
The Securities and Exchange Commission has accused Evolution Lighting Technologies Inc. of committing accounting fraud and falsely inflating its reported revenues over a four-year period. The SEC announced the charges against the Connecticut-based company in a statement released this week. Four Revolution Lighting executives—CEO Robert LaPenta, former CFO James DePalma, Read More
What is that second phase of COVID-19 risk? How can risk management teams adapt to that world? Matt Kelly explains in this can’t-miss guide: DOWNLOAD NOW >>
New guidance from the U.S. Commodity Futures Trading Commission (CFTC) to its Division of Enforcement staff outlines factors to consider when evaluating companies’ compliance programs during enforcement investigations. The guidance reflects a principles-based approach that avoids prescribing specific guidelines for compliance program structures. The CFTC aims to encourage companies to Read More
Compliance officers are increasingly seeking technology solutions that improve their teams’ access to financial and operational data, and that provide risk monitoring and mitigation. Earlier this year, the U.S. Justice Department instructed prosecutors to evaluate data access and analysis at the companies they investigate. Recent settlement trends indicate that regulators Read More
There are few aspects of the chief audit executive (CAE) job that are more anxiety inducing than the executive session of a board or audit committee meeting. Audit leaders can often find themselves pulled in different directions, questioning their loyalties, and put in the precarious position of having to discuss Read More
Auditors at San Diego’s transportation and planning agency are accusing management of improperly making severance and sick time payments to employees, and failing to report the expenditures to the agency’s board of directors. The San Diego Association of Governments (SANDAG) Executive Director Hassan Ikhrata supervises an annual budget of nearly Read More
A performance audit of the King William County, Virginia, Treasurer’s Office casts light on a number of issues that go against accounting standards, the Daily Press reports. The audit highlights 21 problem areas, including $2 million in uncollected real estate taxes from 400 properties over 30 years. The report also Read More
Management at the Washington, D.C., Rail Operations Control Center (ROCC) fosters a toxic culture that puts customers at risk of physical harm, an audit conducted by the Washington Metrorail Safety Commission (WMSC) says. The 50-page WMSC audit report details more than 20 safety and structural issues in the 24-hour “nerve Read More
Timelines for security and compliance audits are largely unchanged in 2020, despite the disruptive impacts of COVID-19 on teams that are now working remotely, according to a recent survey of North American CISOs assessing the challenges facing security and compliance professionals. The survey, a joint effort between Shujinko and Pulse, Read More
