Archive - July 2017

GDPR: Strict New EU Data Privacy Rules Have Global Reach

European regulators are giving individuals new rights to control how their personal data is used. A new law, the General Data Protection Regulation (GDPR), scheduled to become effective May 25, 2018, is the most important change in data regulation...

SEC Clarifies Revenue and Lease Deadlines for Private Entities Included in Public Filings

With transition deadlines fast approaching on new revenue recognition and lease accounting rules from the Financial Accounting Standards Board (FASB), the Securities and Exchange Commission (SEC) has opted to clarify some confusion among certain...

Regtech: An Innovation Quickly Going Mainstream

Last year, we wrote about the various ways financial institutions were using technology to streamline and improve regulatory compliance. We thought it was time to revisit the topic, given regtech’s quiet but steady advancement in the financial...

Internal Auditing Around the World: Stepping Up to the Challenge of Culture Audits

Weak organizational cultures are widely considered to be one of the primary causes of the global financial crisis that struck a decade ago. As a result, maintaining a strong risk culture has become a top priority for all major businesses today — as...

Criminal Finances Act 2017 Aimed at Terrorist Financing Affects All Firms With UK Operations

One of the recent examples of efforts to clamp down on terrorist financing and tax evasion comes from the UK, where the Criminal Finances Act 2017 received Royal Assent in April. The Act, expected to take effect this September, is being touted as a...

Digital Reporting, Dashboards Help Execute Store-Level Audits in Real Time

Retailers are under increasing pressure from all directions these days. In May, Credit Suisse estimated that a record 8,600 stores will close in 2017 and that 25 percent of U.S. shopping malls will be shuttered by 2020. At the same time, retailers...