The SEC charged PricewaterhouseCoopers LLP and one of its partners Monday with violating auditor independence rules for running a project to upgrade the client’s enterprise software while doing its audit work.… Continue Reading
Last week I received a call from a multinational company concerned about activist shareholders targeting them for not yet achieving ISO 37001 Anti-Bribery certification.
The caller explained that the shareholders expect the company to prove that it’s serious about its anti-bribery efforts in a confirmable way.… Continue Reading
China has historically been considered a high risk location for multi-national companies. An analysis of publicly available information determined that in the past five years alone, there have been 29 actions by U.S.… Continue Reading
China has chosen seven audit firms including PwC, BDO, and Grant Thornton to examine the overseas assets of major state-owned enterprises (SOEs) following an open tender held last month.
The move came after a former audit official warned that more than 110 SOEs’ overseas assets valued at about 4 trillion yuan ($637 billion) were not audited due to insufficient audit staff.… Continue Reading
Norway’s anti-corruption agency has filed criminal charges against defense and technology firm Kongsberg Gruppen, the company said Tuesday.
The charges are related to deliveries of communication equipment to Romania from 1999 to 2008, the company said.… Continue Reading
The U.S. Securities and Exchange Commission’s (SEC) may finally be winning its long battle to convince China to hand over audit papers of companies under investigation in the U.S.
The China Securities Regulatory Commission has handed over audit documents produced by Chinese affiliates of Ernst & Young, Deloitte Touche Tohmatsu International and KPMG, and promised to provide work papers related to clients of Ernst & Young and PwC.… Continue Reading
[Editor’s Note: This post comes from a reader who asked not to be named. We’re very grateful for his generosity — rlc]
Compliance departments are asking for bigger budgets, according to survey results from PwC.
Over the past 12 months, a majority of the 780 U.S. and U.K compliance executives responding to the survey said their budgets have either risen or stayed the same.… Continue Reading