regulators news from FierceComplianceIT

The fight over fair value accounting has spawned a lot of ill will. It has come to this: Two lawmakers have proposed something they call the Federal Accounting Oversight Board (FAOB), which would not... Read more...

What will it take for banks to get behind IBM's XBRL-based risk reporting initiative? The idea is compelling enough. If all banks were to tag and report risk-relevant measures, then a central... Read more...

As the Bernard Madoff news rolled on, we noted that an obscure, secretive audit firm was an obvious red flag, one that regulators, investors and others should have caught. As the Stanford Group... Read more...

We've noted that foreign corruption issues, especially regarding bribes and such to win contracts overseas, is right back at the top of the compliance agenda for regulators. So it's refreshing to... Read more...

We've noted that bribery of officials overseas has reared its head again as a compliance issue. The Foreign Corrupt Practices Act of 1977 bans such activity. But the law had not been a priority for... Read more...

Well, not all regulators agree that the U.S. ought to move quickly to IFRS. Charles Niemeier, an outgoing member of the Public Company Accounting Oversight Board, said the move to IFRS could... Read more...

Some experts have discerned that regulators are taking a closer look at outsourcing arrangements these days. For many companies, the answer seems to be SAS70 II (a standard developed by the AICPA)... Read more...

With regulators looking at all aspects of the real estate industry, and with Sarbanes-Oxley a perpetual boardroom presence, you would think that mortgage fraud would have peaked by now. But guess... Read more...

While companies (especially large cap companies) have made progress in reducing material weaknesses, one problem area stick out: tax-related weaknesses. Financial Week notes that while the number of ... Read more...

Strictly speaking, business continuity is not seen as a direct Sarbanes Oxley issue. But the two are related. Sarbox does not contain an exemption for a disaster. Your records and processes will have... Read more...