Lawyer Adria Perez identifies three significant enforcement trends related to the Foreign Corrupt Practices Act. One such trend involves a requirement to have independent compliance monitors evaluate internal controls, while the others involve changes to the FCPA enforcement pilot and an expected increase in tolling agreements, Perez notes.
Companies should be aware of risks that the Public Company Accounting Oversight Board is focusing on this year, particularly in areas including technology, audit tools and financial reporting, according to Protiviti. "We are seeing folks that are ahead of the curve on [revenue recognition], using some of the best practices they've developed from an internal controls standpoint, to help in the changes from other perspectives, on leases," said Charles Soranno of Protiviti.
The Fair Labor Standards Act requires that employers compensate their employees for breaks that are 20 minutes or shorter, the US Court of Appeals for the 3rd Circuit has ruled. A company that allowed 90 seconds for breaks had argued that if it were required to pay for breaks under 20 minutes, employees would take as many as they wanted.
Writer Bobby Tanzilo's heartstrings were touched by a trend he experienced in three Chicago hotels this year: guitars in guest rooms. The ACME Hotel's Summer of Rock package featured an electric guitar to play, a vintage record player to take home and other goodies.
Traditional financial planning and analysis can lead to a short-term mindset that encourages leaders to hit quarterly targets while creating long-term problems. For this reason, companies should consider embracing business planning and analysis, which takes a big-picture approach, according to a KPMG report.
Leaders are often judged on external factors, such as their ability to deliver product innovations and make revenue numbers, but it's important to recognize the internal factors that lead to superior performance. Here is a look at eight mastery areas that compose an inside-out approach to leadership.
Leaders at major companies are seeking to improve efficiency and boost revenue by launching digital initiatives. Here's a look at 13 real-world examples of digital transformation.
The Securities and Exchange Commission has issued new guidance on how companies calculate the ratio of executive pay to the median income of their employees. The SEC said it would not require a specific method, instead "allowing each registrant to determine the method that best suits its own facts and circumstances."
The Equifax data breach is unlikely to have a significant impact on the 2018 filing season, said Internal Revenue Service Commissioner John Koskinen. Many of the people involved may have already had their personal information stolen by other hackers, he noted.