Level Global Investors have agreed to pay more than $21.5 million in fines to the SEC to settle charges that it’s Co-Founder, Anthony Chiasson, engaged in insider trading in the securities of of Dell Inc. and Nvidia Corp. Also charged was former analyst, Spyridon “Sam” Adondakis, five investment professionals, and the hedge fund advisory firm, Diamondback Capital Management.
SEC REPORT: Level Global Agrees to Pay More Than $21.5 Million to Settle SEC Insider Trading Charges
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Tags: Securities and Exchange Commission, Dell Inc., Nvidia Corp., Diamondback Capital Management, SEC, Level Global Investors, Adondakis, Chiasson, SEC fines
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Tags: accountingtemplates.com, Sarbanes-Oxley, Vibato, accounting, accounting templates
An effort made by the Public Company Accounting Oversight Board (PCAOB) to require companies to rotate their auditors is receiving an overall negative response from the community it would affect.
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Tags: Competition Commission, external audit, mandatory audit rotation, PCAOB, Lloyd
CEO of JPMorgan, Jamie Dimon, expresses confidence in the upswing of the economy based on the first-quarter results of the New York-based bank. Pointers of this are that the bank had set aside less budget to cover bad loans in its retail banking business, and that housing prices were beginning to improve. The bank funded $53 billion in mortgages, which is 37% higher than last year.
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Tags: Internal Controls, shareholders, JPMorgan, Jamie Dimon, mortgages, trading loss
It’s been a big week for KPMG. They resigned as external audit from Herbalife and Skechers and fired the Senior Partner, Scott London, for insider trading. London had been at the firm for 29 years.
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Tags: skechers, Herbalife, insider trader, KPMG, SEC, cnbc, Scott London
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Tags: audit, SOX, auditing standards, audit committee, best practices, internal audit, IIA, Institute of Internal Auditors, Sarbanes-Oxley, audit scope, Richard Chambers
The video touches on what motivates the average person to commit fraud; Pressure, Opportunity, and Rationalization. It also explains how accountability begins at the top level with the actions and attitude of the CEO, Board of Directors, and Audit Committee. Next it moves into suggestions for helping to prevent fraud, such as professional skepticism and training all employees to detect red flags. Last but not least, the video explains the importance of the Internal Auditor, who helps assess fraud risk and test the efficiency of internal controls.
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Tags: Internal Controls, Vibato, fraud, center for audit quality, internal auditor
