GRC Insight: Governance, Risk, and Compliance in Context

GRC Insight is highlighting news, trends, and thought leadership in governance, risk, and compliance. We complement it with original opinion, research, and reviews. Save time, and stay on top of your profession.

Tag: Corporate Compliance

News Highlight

Increase in Sanctions Surges Demand for Compliance Professionals and Outsourced Services

The growing use of sanctions as a policy tool has created a demand for compliance professionals that is outstripping supply. The result is an extremely tight job market and rapid growth of third-party services provided by accounting firms, law firms, and specialized compliance consulting firms. Unemployment for compliance professionals currently stands at 0.2%.

News Highlight

California Board Diversity Mandate: The Impact so Far

Recent reports and surveys show significant changes to board of director diversity among California publicly traded corporations. This follows the state mandate that boards have at least one female director by the end of 2019. According to independent corporate governance surveys, among the larger companies 96% have at least one woman director. There have also been large increases in the number of boards with two, three, or more women directors. 94% of the new directors joined the boards as outside directors.

News Highlight

Global Supply Chains Potentially Impacted by Chinese Forced Labor of Uighur Minority

A new report claims that the global supply chain is corrupted by worker exploitation and forced labor stemming from the ongoing Chinese repression of its Uighur population. Perhaps 83 well-known brands – including Nike, Apple, and Dell – are serviced by these workers. A fresh concern for those in corporate governance and compliance concerned with reputation, third-party and supply chain risk.

News Highlight

Harvard and Yale Investigated for Failure to Report Foreign Funding

The Education Department is probing Harvard and Yale universities as part of a nationwide investigation that has identified at least $6.5 billion in undisclosed funding from foreign countries. The department claims Yale failed to report hundreds of millions of dollars during a four-year period in which it filed no reports. The compliance threshold is $250,000. The funders of concern include hostile countries China, Qatar, Russia, Saudi Arabia, and Iran and their representative companies and academic and cultural institutions.