conflicts of interest news from FierceComplianceIT
NewsHas Sarbox worked regarding nonaudit fees?
Pre-Sarbanes-Oxley, there was a lot of consternation about the many conflicts of interest posed by audit firms that also performed a lot of nonaudit work for the same client. The law, which prevented... Read more...
When a CEO sells his Porsche...
As if Bank of America's Ken Lewis didn't have enough to worry about. The Triangle Business Journal reports that in November 2007, Lewis sold his 2007 Porsche 911 turbo coupe, purchased a year... Read more...
The downside of auditor independence
Recall that Sarbanes-Oxley prohibited an audit firm from providing both internal audit work and external audit work to the same client. The conflicts of interest were obvious. Many also agreed with... Read more...
Companies move to end consultant conflicts
Compensation issues aren't strictly in-scope from a Sarbanes-Oxley perspective, except perhaps when it comes to backdating of options. Of course, if the auditor were retained to give compensation... Read more...
Audit conflicts must go!
We recently suggested it would be a good idea for firms to get rid of all potential conflicts of interest in... Read more...
ALSO NOTED: Stumped for more ethics training?; Deloitte launches Asia forensics team;
> Conrad Black gets 6 1/2 years. Article> Survey: Nonprofits embrace Sarbanes Oxley.
Consulting work thrives all over again
Business Week Online notes that the accounting industry has embraced consulting all over again. The poster child for this movement is Deloitte & Touche, which resisted the trend a few... Read more...
Lawyers reassert themselves on boards
Did you have some attorneys on your board who resigned after Sarbanes-Oxley passed? If you want him or her back, now might be a good time to ask. The trend seems to be reversing. After the law was... Read more...
To whom should your internal auditor report?We've discussed before the reporting chain that governs internal audit resources, which often ends up with deliverables ordered by the audit committee as well as the CFO. The reporting lines may... Read more... Should CFOs be stripped of all stock options?There's still a lot of anger about the still-unfolding stock options grant date scandals floating around. And where there's anger, there are likely to be scapegoats. In that spirit, consider... Read more... | Press ReleasesFitch Publishes Servicer Report on ORIX Capital Markets, LLCCHICAGO--(BUSINESS WIRE)-- Fitch Ratings has published a servicer report on ORIX Capital Markets, LLC. This report provides an overview of the company's servicing operations and a discussion of the Read more >> Fitch: U.S. Credit Card ABS Issuance Trusts UpdatedNEW YORK--(BUSINESS WIRE)-- Fitch Ratings today published its U.S. Credit Card ABS Issuance Trust Updates for the following issuers: --American Express Issuance Trust; --BA Credit Card Trust; Read more >> Fitch Publishes Report on National Risk Index, State- and MSA-level Risk Multipliers in ResiLogicNEW YORK--(BUSINESS WIRE)-- Fitch Ratings has published a Special Report on National Risk Index, State- and MSA-level Risk Multipliers in ResiLogic for the third quarter of 2010. The report is Read more >> Fitch Publishes Credit Card Movers & Shakers With June 2010 PerformanceNEW YORK--(BUSINESS WIRE)-- Fitch Ratings has published 'Credit Card Movers & Shakers' containing June 2010 performance. While U.S. consumer credit quality remains under pressure, U.S. credit Read more >> Fitch Affirms Morgan Stanley's TLGP Senior Unsecured Debt at 'AAA'NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has affirmed Morgan Stanley's senior unsecured debt guaranteed by the FDIC under the Temporary Liquidity Guarantee Program (TLGP) at 'AAA' in conjunction Read more >> |
