Tag: KPMG

Categories
Daily Compliance News

Daily Compliance News: July 19, 2023 – The Will KPMG Ever Stop Cheating Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy morning coffee, and listen to the Daily Compliance News. All from the Compliance Podcast Network. Each day we consider four stories from the business world, compliance, ethics, risk management, leadership, or general interest for the compliance professional.

Stories covered in today’s edition:

  • Will diversity in tech end? (WSJ)
  • KPMG was caught cheating for exams again, this time in The Netherlands. (Dutch News)
  • Czechia opposes new EU corruption directive. (Euractiv)
  • Does Singapore have a corruption problem? (FCPA Blog)
Categories
The Wirecard Saga

The Wirecard Saga – Episode 40 – Phoning It In

Welcome to Season 3 of Lies, Spies & Corporate Crimes: The Wirecard Saga. The Wirecard Saga has become the world’s leading source of all things Wirecard. In The Wirecard Saga, Lies, Spies & Corporate Crimes, host Mikhail Reider-Gordon, Managing Director of Institutional Ethics & Integrity at Affiliated Monitors, looks at the biggest financial scandal in post-war Germany from a variety of angles.

In the latest episode of “The Wirecard Saga,” hosted by Mikhail Reider-Gordon, the discussion heats up as they delve into the recent developments surrounding the scandal. They highlight the minimal penalty imposed on EY, which failed to take adequate action, leading to the multi-billion-dollar corporate collapse of Wirecard, affecting stakeholders at various levels. She also discusses ongoing legal proceedings, including the upcoming proceedings and the role of KPMG’s forensic audit team during the scandal. The lack of importance given to compliance at Wirecard is also spotlighted, despite the formation of a formal compliance department. The podcast raises questions about how many missed opportunities there were to identify the fraud and why Wirecard employees didn’t take action to prevent it.

Mikhail will explore more unethical and illegal behavior, new entities highlighted through the lawsuit, and criminal charges filed against in Austria in next week’s episode. Take advantage of this exciting and informative podcast! Listen now and join the discussion.

Key Highlights:

  • Request for Courch Change from Apas
  • KaMuG Test Case
  • IAASA Assesses Penalties for Bad WUKI Audits
  • Professional Scepticism and Balance Confirmations
  • FRC Enforcement
  • KPMG Kept in the Dark
  • Two Out of 5000
  • Compliance Department of One
  • Lack of Interest in Compliance and Law
  • Sending Millions By Phone
Categories
Daily Compliance News

December 9, 2022 – The Goldilocks Balls Edition

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you four compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee and listen to the Daily Compliance News. All from the Compliance Podcast Network.

Stories we are following in today’s edition of Daily Compliance News:

  • KPMG was caught cheating again. (WSJ)
  • Sunny Bulwani was sentenced to 13 years. (NYT)
  • More corruption in baseball? (Twinkietown)
  • Wirecard trial begins. (Reuters)

Categories
Daily Compliance News

October 20, 2022 the Lamentable Edition

In today’s edition of Daily Compliance News:

  • Don’t work for KPMG Saudi Arabia. (FT)
  • Elizabeth Holmes asks for a new trial. (NYT)
  • Goldman claims whistleblower allegations ‘lamentable’. (Reuters)
  • Vietnam has yet another anti-corruption push. (WaPo)
Categories
Daily Compliance News

August 18, 2022 the More KPMG Woes Edition

In today’s edition of Daily Compliance News:

·       Tokyo Olympic organizer arrested on bribery charges. (Bloomberg)

·       More fines for KPMG. (WSJ)

·       Frozen Karimova cash returned to Uzbekistan. (OCCRP)

·       Would you rent a used house from this man? (Reuters)

Categories
Daily Compliance News

July 27, 2022 the Mexico Addressing Corruption edition

In today’s edition of Daily Compliance News:

  • Is Mexico finally addressing corruption? (KRWG)
  • SEC won’t accept restrictions on Chinese audits. (Reuters)
  • KPMG fined by UK audit watchdog. (WSJ)
  • Kraken is under investigation for sanctions violations. (NYT)
Categories
Daily Compliance News

May 13, 2022 the Does KPMG Finally Get It Edition


In today’s edition of Daily Compliance News:

  • Sinkhole of corruption sold. (Guardian)
  • Putin’s yacht and raising corruption awareness. (Above the Law)
  • Does KPMG in UK finally understand that culture matters? (FT)
  • If you care about your reputation, don’t do business with the state of Texas. (Reuters)
Categories
Daily Compliance News

February 24, 2022 the Ng Trial Suspended Edition


In today’s edition of Daily Compliance News:

  • Implications of Ukraine for corporate governance. (Forbes)
  • Ng trial put on hold after DOJ fails to turn over documents.  (WSJ)
  • KPMG dumps Phil Mickelson. (Golf Week)
  • New EU due diligence law. (NYT)
Categories
This Week in FCPA

Episode 290 – the Super Sunday Edition


Super Sunday is here. The NFL finally gets the game in the spotlight after weeks of brutal PR. Who ya got? “Who Dey” or Hollywood? Tom and Jay are back look at some of the week’s top compliance and ethics stories this week in the Super Sunday edition.

 Stories

1.     Do compliance professionals need a union? Dick Cassin in the FCPA Blog.
2.     Jailed employees under the FCPA. Bill Jacobsen explores in the FCPA Blog.
3.     New workplace normal for policies and training. Ingrid Freeden in Risk and Compliance Matters.
4.     New SOE risk management framework.  Alexandra Gillies and Thomas Shipley in the FCPA Blog.
5.     3 questions from KPMG and Carillion tribunal. Neil Hodge in Compliance Week. (sub req’d)
6.     SFO investigation protocol announced. Mengqi Sun in the WSJ Risk and Compliance Journal.
7.     Companies yet again ask EU for rules around ESG. Lawrence Heim in practicalESG.
8.     CCOs say self-reporting a hard sell. Evren Esen in CCI.
9.     What comes next for ABC and the Olympics? Andy Spalding in GAB.
10.  The Spotify imbroglio. Matt Kelly with a 2-parter in Radical Compliance, Part 1 and Part 2.

 Podcasts and More

11.  In February on The Compliance Life, I visit with Ellen Smith, a former Director of Trade Compliance who recently started her own consulting firm. In Part 1, she discussed her academic background and early professional career. InPart 2, Ellen moves in-house.
12.  Tom and Richard Lummis begin their annual review of Best Picturing winning movies on 12 O’Clock High, a podcast on business leadership. In Part 1 they review Schindler’s List for leadership and ethical lessons. Upcoming episodes will look at Gladiator, A Man for All Seasons and Platoon.
13.  CCI releases new e-book from Tom “FCPA 2021 Year in Review”. Available free from CCI.
14.  Trial of the Century-the Enron Trial. This week, Tom premiered a 5-part podcast series on the Enron Trial with Loren Steffy, who covered the trial for the Houston Chronicle. In Part 1, run up to the trial. In Part 2, the trial begins. In Part 3, the star witnesses and key testimony. In Part 4, the Verdict comes in. In Part 5, what did it all mean. It is be available on the Compliance Podcast Network, Megaphone, iTunes, Spotify and all other top podcast platforms.
15.  In a special 2-part series on the Sunday Book Review, Tom looks at the Notre Dame Deloitte Center for Ethical Leadership’s top books on ethical leadership from 2021. Part 1 and Part 2.
Tom Fox is the Voice of Compliance and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.

Categories
This Week in FCPA

Episode 289 – the Brady Retires edition

 
As the GOAT of pro football, Tom Brady retires, Brian Flores sues the NFL and the Bengals/Rams make the Super Bowl, Tom and Jay are back look at some of the week’s top compliance and ethics stories this week in the Brady Retires edition. 
Stories

  1. DOJ issues first Opinion Release of 2022. DOJ website. Tom in FCPA Compliance and Ethics Blog. Bill Steinman in the FCPA Blog.
  2. Do BODs have unrealistic expectations on compliance? Dick Cassin explores in the FCPA Blog.
  3. KPMG mislead FRC through forged docs. Risk and Compliance Platform Europe.
  4. LRN releases 2022 Program Effectiveness Report. Download report here. Matt Kelly in Radical Compliance.
  5. A ‘how-to’ on remediating. The HeadSpin enforcement action. Tom in FCPA Compliance and Ethics Blog. Aaron Nicodemus in Compliance Week. (sub req’d)
  6. Learning to scale up ethically. Hemant Taneja in CCI.
  7. Why compliance should lead ESG. Carrie Penman in Ethics and Compliance Matters.
  8. The Boardroom agenda in 2022. Deloitte in Harvard Law School forum on Corporate Governance.
  9. Changes in antitrust enforcement and its impact on compliance. Mike Volkov, Matt Kelly and Tom in Compliance into the Weeds. Mike Volkov with a 3-part blog series in Corruption Crime and Compliance.
  10. Unclear values can lead to unethical behavior. Brett Beasley in Center for Ethical Leadership.

 Podcasts and More

  1. In February on The Compliance Life, I visit with Ellen Smith, a former Director of Trade Compliance who recently started her own consulting firm. In Part 1, she discussed her academic background and early professional career.
  2. Aly McDevitt with a multipart series in Compliance Week on the end-to-end story of a ransomware attack. Here more about the series on this month’s edition of From the Editor’s Desk, with Tom and Dave Lefort. A subscription is required but Compliance Week is running a membership special of $199 for the year. Use Promo Code RNSM199. For information and details click here.
  3. CCI releases new e-book from Tom “FCPA 2021 Year in Review”. Available free from CCI.
  4. Trial of the Century-the Enron Trial. This week, Tom premiered a 5-part podcast series on the Enron Trial with Loren Steffy, who covered the trial for the Houston Chronicle. In Part 1, run up to the trial. In Part 2, the trial begins. In Part 3, the star witnesses and key testimony. In Part 4, the Verdict comes in. In Part 5, what did it all mean. It is be available on the Compliance Podcast Network, Megaphone, iTunes, Spotify and all other top podcast platforms.
  5. Looking for a quick daily bite of trade compliance? Check out the Compliance Kitchen with Silvia Surman, who gives a short 3-5 minute update on one trade compliance topic each day. On the Compliance Podcast Network.

Tom Fox is the Voice of Compliance and can be reached at tfox@tfoxlaw.com. Jay Rosen is Mr. Monitor and can be reached at jrosen@affiliatedmonitors.com.