KnowledgeLeader Blog

Current Events and Headlines in Auditing and Risk Management: March 18-22

Posted by Sharise Cruz on Thu, Mar 21, 2013 @ 12:25 PM

""Sen. Levin "London Whale" Report to Put Pressure on Volker Rule Writers

MarketWatch - “Expect a report set to be released Thursday about J.P. Morgan Chase & Co.’s “London Whale” fiasco to put pressure on regulators to implement a tougher Volcker Rule, a measure under consideration by federal regulators that seeks to limit speculative trading by big banks.”

More perspective on this issue:

Banking Needs Less Regulation, More Risk Governance

American Banker – “Last week's theatrical Senate hearing and intriguingly detailed report on the JPMorgan Chase synthetic credit portfolio missed the mark by ignoring perhaps the biggest contributing factor to the bank's losses: the breakdown in risk governance.”

Editor: It’s a contentious political climate with both parties flexing their muscles. The safest bet is that the regulations are going to get tougher, and more complicated.

Related KnowledgeLeader articles and resources on Laws and Regulations >


Cloud is the Best Disaster Recovery Plan: RedBalloon

ZDNet – “Old school disaster recovery techniques pale in comparison to cloud computing when it comes to providing business continuity, according to RedBalloon general manager of development and technology Paul Keen.”

Editor: Cloud computing is definitely more than a catch phrase now. How safe do you feel with your current disaster plan and does it include cloud computing?

Related KnowledgeLeader resources on Disaster Recovery >

Related KnowledgeLeader resources on Cloud Computing >


BakerHostetler Obtains Landmark Interpretive Guidance on SOX 402

Sarbanes-Oxley Compliance Journal – “The new guidance on SOX 402 is noteworthy. SOX was enacted by Congress in response to corporate accounting scandals of the time – including Enron and Worldcom. Section 402 was included to combat a particular abuse in which senior officers used corporate funds to make outsized personal loans to themselves, usually on preferential terms. However, since passage of Section 402, the SEC staff has not provided interpretive guidance on it.”


Editor: It’s worth noting that this article was written by Michael Oxley, co-author of the Sarbanes-Oxley law.

Related KnowledgeLeader resources on Sarbanes-Oxley >


Topics: Laws & Regulations, Disaster Recovery, Cloud Computing

Add a Comment:

Subscribe to Our Blog

About KnowledgeLeader

KnowledgeLeader, provided by Protiviti, is the premier resource for internal audit and risk management professionals.

With over 1,400 customizable tools and 1,300 articles by industry experts, we offer the most comprehensive service on the market.

For more information:

 Tour the Site

Recent Posts

Posts by Topic

see all