Archive for: November, 2010

Ex Deloitte Tax Partner, Wife Charged with Insider Trading Scheme

Ex Deloitte Tax Partner, Wife Charged with Insider Trading Scheme

The Securities and Exchange Commission (SEC) has filed a lawsuit November 30 against a former partner at Deloitte Tax LLP and his wife for allegedly engaging in an international insider trading scheme. The SEC claimed the two had leaked confidential information about merger and acquisition several times to members of family abroad, the worth of [...]

ICO Worried Over NHS Data Platforms

ICO Worried Over NHS Data Platforms

Worried that another data privacy violation may transpire again with Google Analytics and Facebook plugins being connected to NHS Choices website, the Information Commissioner’s Office (ICO) has raised its concerns to the Department of Health. ICO sought assurances these data platforms would not expose personal information of anybody who would be visiting the site to [...]

Ernst & Young Hailed As Leading Financial Services Consultant

Ernst & Young Hailed As Leading Financial Services Consultant

The annual Operational Risk & Regulatory ranked Ernst & Young for the second time in a row as the top consultant in six of twelve categories in risk and regulatory consultancy. Hank Prybylski, Global Financial Services Risk Management Practice Leader and Americas Financial Services Advisory Leader, addressed the increasing demand for consultancy services brought about [...]

Trend Micro Acquires Mobile Armor, Beefs Up Data Protection

Trend Micro Acquires Mobile Armor, Beefs Up Data Protection

Trend Micro has closed the deal of acquiring Mobile Armor, a company specializing on data protection. Trend Micro’s acquisition of Mobile Armor is believed to beef up its data protection measures that would help address concerns over data security on mobile devices. Many have raised their problems lately about personal data stored in devices like [...]

ACSD Promotes Computer Security Day with Posters

ACSD Promotes Computer Security Day with Posters

November 30 marks the annual celebration of Computer Security Day which commenced in 1988 to wage the drive of making people aware of the different issues related to computer network security. The Association for Computer Security Day (ACSD) highlights this year’s celebration with various materials including free posters that underline the importance of raising consciousness [...]

Accountancy and Actuarial Discipline Board to Probe PwC’s Role in Connaught Downfall

Accountancy and Actuarial Discipline Board to Probe PwC’s Role in Connaught Downfall

The accounting regulator in UK, Accountancy and Actuarial Discipline Board (AADB), seeks to conduct an investigation into the conduct of auditors from PricewaterhouseCoopers and other accountants which had audited the accounts of housing repair specialist Connaught. The AADB has the power to deal out fines for any misconduct committed in the auditing industry. It said [...]

China Is Responsible for Google Hacking – Wikileaks

China Is Responsible for Google Hacking – Wikileaks

Wikileaks, a dissident website known for its politically intriguing revelations, has published Sunday a mass of data that pointed China as responsible for the Google hacking that occurred in the computers of the search engine and Western governments early this year. The US government officials, however, said the systematic cyber attack that happened back in [...]

Audit: Free Rides Rampant Among Non-cardholders

Audit: Free Rides Rampant Among Non-cardholders

The Regional Transportation Authority’s audit, which will be released soon, has discovered several abuses in the free rides provided to senior citizens in Illinois. The report from WFLD-TV in Chicago and the Better Government Association noted several instances where non-cardholders are using the free passes that provide free rides to senior citizens after the legitimate [...]

Audit Commission Updates Inspection Arrangements for Housing Providers

Audit Commission Updates Inspection Arrangements for Housing Providers

The Audit Commission has released its updated interim inspections arrangements for providers of social housing. The arrangements are joint statements of the commission and the Tenant Services Authority (TSA). In the statement, the TSA and the Audit Commission have confirmed their decisions of maintaining the arrangements until April 2011, prior to which date the TSA [...]

Audit Finds Overpayments by Southampton to School Districts

Audit Finds Overpayments by Southampton to School Districts

Southampton, a hotspot in New York during summer, has expended overpayments of more than $1.91 million for the two school districts in Long Island, Comptroller Thomas DiNapoli revealed. In a statement, DiNapoli reported that eastern schools in Long Island received a total of $8.29 million from Southampton instead of the $7.62 million amount that should [...]

Administrators KPMG to Wind Up Irwins’ Plight in Trading

Administrators KPMG to Wind Up Irwins’ Plight in Trading

KPMG will serve as administrators to wind up transactions at Irwins, a construction firm based in Leeds, after the firm has experienced difficulty in its trading conditions. The administrators have declared 56 redundancies. Mark Firmin, restructuring partner and joint administrator at KPMG, said a major proportion of Irwins’s public sector-related projects have sustained a considerable [...]

IT Specialist Warns Public of Employee Fraud Jobs

IT Specialist Warns Public of Employee Fraud Jobs

A combination of proper technology and processes hand-in-hand with vigilance makes for a strong defense against employee fraud jobs. This was what Advanced Computer Software, an IT specialist for healthcare and public sector, has told the public sector organizations to deter inside fraud. Advanced Computer Software sounded the alarm when the National Fraud Authority reported [...]

San Jose Convention Center in Hot Water Over Audit Report

San Jose Convention Center in Hot Water Over Audit Report

San Jose, California – An audit report released Wednesday has shown anomalies in the management of San Jose McEnery Convention Center that alarmed officials there. The nonprofit group Team San Jose which runs the convention center has not been allegedly aware that the City Council would need to know the management’s problems with its budget, [...]

Executives Are More Concerned on Financial Compliance – Ernst & Young

Executives Are More Concerned on Financial Compliance – Ernst & Young

A new survey carried out by Ernst & Young indicated that financial compliance tops the significant concerns of most senior finance executives. Over 500 leading board members surveyed by Ernst & Young in the recent G20 summit this month raised concerns over the added burden of compliance costs facing their companies. They said that although [...]

Big Four Defend Audit Companies’ Role in Economic Crisis

Big Four Defend Audit Companies’ Role in Economic Crisis

Executives from the Big Four accounting firms Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers said audit companies are never to blame for not sounding the alarm when the banking sector was in the verge of falling down. The Big Four argued it was beyond their business to do assessment in failing companies after the House [...]

How to Get Secured Online As the Year Turns – Deloitte Shares

How to Get Secured Online As the Year Turns – Deloitte Shares

Observing that with the rapid growth of information technology comes the challenge for most businesses and consumers to get secured online, Deloitte advises the industry with security tips as the year-end nears. Irfan Saif, Principal at Deloitte LLP, said the wide array of possibilities of getting a company’s sensitive data breached by unauthorized intervention has [...]

Most UK Consumers Say Yes to Compulsory Data Loss Disclosure

Most UK Consumers Say Yes to Compulsory Data Loss Disclosure

With the previously uncovered cases of companies violating data privacy laws having been taken to task by the Information Commissioner’s Office (ICO), a survey carried out by LogRhythm has shown that 80 percent of consumers in UK would favor regulations that would compel companies to disclose their data losses. Four out of five respondents across [...]

Nonprofit Group Misspends $82,590, Financial Audit Reveals

Nonprofit Group Misspends $82,590, Financial Audit Reveals

A nonprofit organization running an emergency medical and 9-1-1 services in Morrow County has been caught by a special financial audit to have misspent $82,590. Morrow County Firefighters and Squadsmen Association’s financial audit was released Tuesday by state auditor Mary Taylor. The audit compels Robert Moore to return the sum of $82,590 to the EMS [...]

DWP Process Systems Mismatch Messes Up Benefits

DWP Process Systems Mismatch Messes Up Benefits

Incompatibility in IT process systems used by the Department for Work and Pensions (DWP) has driven payments of benefits to as high as £1.1 billion and another £500 million worth of underpayments, the National Audit Office (NAO) revealed. During the launching of NAO’s report, its head Amyas Morse lamented that however committed the DWP is in [...]

Oracle Cashes in $1.3 Billion from SAP for Software Piracy

Oracle Cashes in $1.3 Billion from SAP for Software Piracy

Downloading thousands of copies of software and reselling them to the customers of Oracle (NASDAQ:ORCL), SAP (NYSE:SAP) admitted committing software piracy on the products of its very rival and has been penalized with $1.3 billion worth of fines. The penalty has been the largest awarded so far to entities infringing copyrights, Oracle president Safra Catz [...]