Assessments of a company's culture and controls are essential components of a meaningful program for auditing compliance, Michael Volkov writes. Internal audit and the chief compliance officer can work together to implement testing protocols as part of a transparent audit process, Volkov writes.
The Department of Homeland Security's recent raids of 100 7-Eleven stores illustrate the importance of staying compliant with Form I-9 requirements to ascertain employees' authorization to work in the US, lawyer Montserrat Miller writes. "Keys to ensuring compliance with the Form I-9 requirements include internal audits, training, preparation and having a plan in place," Miller writes.
General Electric CEO John Flannery is considering breaking up the company, via spinoffs or otherwise, in light of more than $11 billion in charges related to an insurance portfolio and the new tax law. Cowen analysts say GE's separate businesses are worth at most $15 per share, which could make a breakup financially unfeasible.
Plans to double the supply of US government bonds may cause demand to be exceeded and prompt adverse effects, such as wider credit spreads and falls in the dollar and stock market, warns Deutsche Bank economist Torsten Slok. Other market watchers do not share this view, pointing instead to numerous bullish indicators, including significant retail appetite for bonds.
Financial statements prepared in accordance with an AICPA financial-reporting framework give lenders nearly as much confidence to loan capital as generally accepted accounting principle-based financial statements for small and midsize businesses with low credit risk, a published study shows. An updated toolkit of resources, located at aicpa.org/frf-smes, helps stakeholders implement the framework.