Publications

 

Fraud in an economic upturn: Managing the downside of an upswing

A review of how fraud and other integrity risks affect business.

 

25%of global CEOs

surveyed in 2011 by PwC reported incidences of corruption and bribery

Cleaning up corruption: Why anti-corruption compliance is now on the C-Suite radar

 
 

All publications

OIG’s Updated Provider Self-Disclosure Protocol: Feedback from the Front Lines

In the period since the Office of Inspector General of Health and Human Services issued its updated Provider Self Disclosure Protocol (SDP), organizations have reported that it provides important new guidance in some areas, while being silent in others. The purpose of this white paper is to share some of the practical insights that we have gained from working through SDP implementation challenges with disclosing parties, as they endeavor to follow the specified process for voluntarily identifying, disclosing, and resolving liability for “instances of potential fraud involving the Federal health care programs.”

Daubert Challenges to Financial Experts: A yearly study of trends and outcomes

In 1993, the US Supreme Court’s opinion in Daubert v. Merrell Dow Pharmaceuticals Inc. addressed the admissibility of expert scientific testimony in federal trials, affirming a gatekeeping role for judges in determining the reliability and relevance of the testimony.

In 1999, the Supreme Court’s decision in Kumho Tire Co. v. Carmichael clarified that the Daubert criteria were applicable to all types of expert testimony in federal jurisdictions, not merely testimony relating to science. Subsequently, many state courts also adopted the Daubert standard.

This study analyzes post-Kumho Tire (2000–2012) challenges to financial expert witnesses under the Daubert standards. We identify observable trends in the frequency and outcome of these challenges based on written opinions in federal and state courts.

Current Issues in Digital Management for Corporate General Counsel

Without a doubt, the “digital revolution” has improved the lives of millions of people all over the globe. Driven by the Internet, digitization has enhanced transportation, communications, healthcare, personal safety, the environment and countless other areas of our lives. Global sourcing and supply chains, disaggregated business models, cloud and mobility technologies have delivered the promise of efficiency and the consequence of security vulnerabilities.

Many companies that are involved in the digital economy, however, face a significant and largely unappreciated problem: they don’t realize the depth and breadth of their digital exposure. Without an informed understanding of the constellation of external and internal threat actors, their goals and their ways of operating, companies cannot identify their systemic weaknesses or effectively manage the genuine risk.

The Iran Joint Plan of Action: Fast paced regulatory environment requires heightened due diligence

The Joint Plan of Action ("JPOA"): serves as the basis of an agreement between the United States and its partners, with the Republic of Iran. It has been reported that the purpose of the JPOA is to halt progress on, and roll back key aspects of Iran’s nuclear program. In return, the U.S. and its partners will provide limited, targeted, and reversible sanctions relief for a six-month period, from January 20 to July 20, 2014, while the parties pursue a broader agreement. Although the JPOA does not signify any noticeable regulatory changes from the current sanctions regime for most U.S. companies and their foreign subsidiaries and affiliates, it would still be prudent for companies to pay careful attention to this rapidly changing area of economic sanctions.

2013 Securities Litigation Study

In what is now PwC’s eighteenth annual Securities Litigation Study, it was evident from an early point in the year that 2013 was once again unlikely to provide many significant trends or changes in the securities litigation landscape. However, significant events and announcements in 2013 have set the stage for potentially sweeping changes in the future. Like a movie trailer, such announcements left us intrigued and waiting for more. As we consider the impact of such events, it is likely that 2014 could yield significant changes.

Nigeria. Smart Investments Require Due Diligence

Nigeria: known in many circles as the Giant of Africa, with abundant natural resources and a growing consumer base, Africa’s most populous nation is an economic powerhouse. However, endemic corruption remains a significant risk even as Nigeria is becoming an increasingly popular destination for foreign investment. A risk-based due diligence action plan provides an invaluable tool for investors seeking to make the most of potential opportunities in Nigeria.

The Board’s role in anti-corruption compliance

In an environment of expected increasing regulatory enforcement, Board members should be keeping their focus on their role in ensuring compliance with anti-corruption statutes. This article discusses some of the key responsibilities of the Board specifically related to anti-corruption compliance programs and risks Boards should consider related to potential shareholder and derivative class actions arising from alleged violations of the Foreign Corrupt Practices Act (FCPA). This article also discusses resources available to Boards, as despite the increase in high-profile, newsworthy matters and the past decade of increasingly aggressive FCPA enforcement activities, public company disclosures regarding Board governance of anti-corruption compliance programs remain limited.

Overcoming challenges of leading innovation in medical technology and research in the global market

Promoting healthcare solutions worldwide requires navigation of the complex and constantly changing landscape of US export control laws. How regulatory controls apply to medical devices, pharmaceuticals, and biotechnology products is unique, and understanding where and how to export these products is critical to competing in the global market. This piece discusses the effect of “dual use” controls, defense regulations, and OFAC sanctions on these products, and the risks and opportunities for this booming industry.

Multiple Award Schedules - A roadmap to getting a Federal Supply Schedule contract

Multiple Award Schedules (MAS) offer commercial companies a unique opportunity to sell to the US government. MAS contracting can offer companies increased revenue streams and opportunities they may once have avoided due to the fear of “contracting with the US government.” As a follow-up to our Getting Into Government Contracting discussion, this roadmap to Schedule contracting highlights the pre- and post-award considerations for contractors as they begin Schedule contracting.

An emerging multi-polar enforcement landscape

Companies seeking to expand their footprint in emerging markets should take note of the growing variety of anti-corruption regulators. The following article emphasizes the importance of multi-lateral development banks (MDBs) as a source of regulation. and highlights the key features of the MDB sanctions process that companies should consider when assessing the sufficiency of their anti-corruption policies and programs. As new regulators increasingly assert themselves in the marketplace, companies will have to adapt and tailor their compliance efforts to address the realities of an emerging multi-polar enforcement landscape.

10Minutes on data privacy

Data protection and privacy is an urgent issue for both consumers and businesses. As customers increasingly worry whether their personal information is secure and used appropriately, companies are also concerned about protecting data and their brand. This 10Minutes highlights the importance of viewing consumer privacy from more than just a compliance lens and developing a strategy and action plan that will help businesses lead on data privacy by building customer trust and enhancing their brand.

Global Economic Crime Survey, 2014

Economic crime continues to remain in the forefront of corporate concern, posing a threat to fundamental business processes.

Economic Impact of Trade Secret Theft

News stories, international negotiations, and recent case law continue to demonstrate the importance of securing trade secrets as a means of ensuring prosperity for companies operating in the U.S. and abroad.

Overcoming challenges of leading innovation in medical technology and research in the global market

Promoting healthcare solutions worldwide requires navigation of the complex and constantly changing landscape of US export control laws. How regulatory controls apply to medical devices, pharmaceuticals, and biotechnology products is unique, and understanding where and how to export these products is critical to competing in the global market. This piece discusses the effect of “dual use” controls, defense regulations, and OFAC sanctions on these products, and the risks and opportunities for this booming industry.

PwC Government Contract Compliance Quarterly Review

Q1 Government fiscal year 2014 – January 30, 2014
Providing critical regulatory updates to Government contracts and compliance professionals.

PwC Government Contract Compliance Alert: New limits on allowable contractor compensation costs

On December 26, 2013, President Obama signed two pieces of legislation into law that addressed limiting allowable compensation costs for contractor employees under certain government contracts: Bipartisan Budget Act (BBA) of 2013; and The National Defense Authorization Act (NDAA) for Fiscal Year 2014.

17th Annual Global CEO Survey

Fit for the future: Find out what’s on the mind of over 1,300 CEOs in the 17th Annual Global CEO Survey.

2014 US CEO Survey: Views on economy and business

Download the CEO Survey to explore the issues, trends and challenges that US CEOs cite as top of mind and see what they’re doing to stay fit for the future.

Answering Your Cybersecurity Questions

There continues to be systematic security issues with retailers in the United States. A number of recent high-profile data breaches demonstrate that cyberattacks on retail and consumer organizations are increasing in number. This piece discusses what boards and management can do to better position their companies to handle cybersecurity events. It also covers threat actors who exploit retailers via cyberspace, and provides questions to consider in the early weeks of 2014.

Three Common Techniques for E-Discovery Preservation

There are three primary ways to preserve data in response to e-discovery obligations: self preservation, in-place preservation and preservation through data collection. While there is no one-size-fits-all approach, organizations typically employ one or more of these approaches depending on the nature of the case, defensibility requirements and available resources. This white paper discusses the pros and cons of each approach.

PwC Government Contract Compliance Quarterly Review

Q4 Government fiscal year 2013 – October 30, 2013
Providing critical regulatory updates to Government contracts and compliance professionals.

Back to the drawing board: Changes in the Government’s approach to incurred cost proposal adequacy is causing significant challenges for contractors

Contractors are experiencing new challenges in their incurred cost reporting process including determinations of inadequacy, requests for additional information and issues regarding the adequacy of documentation.

zoomlens: About to buy-in to Big Data? Bring your big brains

Big Data should be among the biggest things on the C-suite agenda. Consider that nearly all of the data known to us today came into the world within only the last few years. Data is growing wildly. And we've found that a high percentage of companies are simply focused on collecting data - but not doing much with it. Yet that's exactly the kind of insight business leaders will need in this fast-moving environment, along with an understanding of just where we are at this point in the Big Data saga and what it means to your organization.

Diversion ahead: Doing business with China? What you should know about export controls and related risks

Exporters should seek to understand the wide range of risks related to US export control regulations and how these intersect with their customers and suppliers.

Foreign Corrupt Practices Act: The role of forensic accountants

It’s the day before a Fourth of July weekend and the General Counsel (GC) of a Securities Exchange Commission (SEC) registrant requests an urgent meeting with the Chief Compliance Officer (CCO) and the Vice President of Internal Audit (VP-IA).

The GC tells the stunned executives that a whistleblower has come forward with allegations that bribes, disguised as consulting fees, are being paid by the company’s South Korean subsidiary. How, the GC asks, could this have happened, when the compliance and internal audit teams performed what appeared to be a thorough anti-corruption compliance audit in Seoul just last year?

What do you think happened? Let’s analyze.

Addressing corruption risk in M&A transactions: The international balancing act

The current global economic environment has posed various challenges for US investors, including private equity firms, domestic corporations, and multi-nationals. However, we expect deal activity to intensify as companies look for new ways to grow and meet their strategic objectives. In particular, the pace of US deal activity may increase as companies seek to find value and expand through mergers and acquisitions with international targets.

Daubert challenges to financial experts: 2013 mid-year update

The mid-year update to our annual study of Daubert challenges to financial experts reflects observations from our analysis of Daubert challenges for the first six months of 2013, and also highlights challenges of particular interest.

zoomlens: Colombia after the FARC? New growth prospects, enduring risks, and the ongoing need for due diligence

Building on fiscal reforms introduced in 1999 and a new security strategy unveiled in 2003, Colombia has emerged as Latin America's fourth largest economy. No longer known only as home to the Western Hemisphere's longest-running internal armed conflict, the country's improved economic prosperity, along with statistics on incidence of kidnappings and recorded terrorist acts, continue to show mutually reinforcing results.

PwC Government Contract Compliance Quarterly Review

Q3 Government fiscal year 2013 – July 31, 2013
Providing critical regulatory updates to Government contracts and compliance professionals

10Minutes on whistleblower reform

The best whistleblower defense: A strong ethical culture

The Securities and Exchange Commission recently issued its second award under the Dodd-Frank whistleblower program. In its first year, the SEC Office of the Whistleblower received 3,001 tips, so more awards are expected. While the SEC's rules do not require a person to provide the tip to the company first, most whistleblowers do report internally. For those that did report externally, it wasn't just about the monetary reward. Rather, it was the severity of the issue or lack of company response that mainly prompted the external reporting.

Diagnosing bribery risk

Bribery and corruption are not just on the agenda of most governments and businesses, they are becoming a top priority. It is fundamental that companies must lead from top as boards and management are responsible for setting strategy and objectives as well as promoting the right culture.

Marketmap - The Russian evolution: How can foreign businesses prepare to prosper?

Russia is a quintessential emerging market riddle, a nation wrapped up in growing globalization while confronting the kinds of constraints that typify emerging market countries. But there is a key. When doing business in Russia, companies need to look beyond the obvious growth areas to find specific sectors and other avenues of opportunity formed by Russia’s special place in the world, literally and figuratively.

2013 US State of Cybercrime Survey

Cyberattacks are now a routine part of doing business in today’s uncertain world. This year’s cybercrime survey highlights what many in government and the cybersecurity industry have known for years: The cybercrime threat environment has become increasingly pervasive and hostile. And actions to stem the tide of attacks have had limited effect to date.

2013 Patent Litigation Study

We view 2012 as a banner year for patent infringement litigation. Massive damages awards made headlines. The 2011 America Invests Act (AIA) began making its impact. The influence of nonpracticing entities (NPEs) continued to grow. The number of patents granted and litigations filed maintained their sharp upward trajectory.

Big Data: Turning big risks into big opportunities: Are you and your clients prepared?

It's 2:00 a.m. and you are sleeping soundly in your bed. Little do you know that on the other side of the world, a local news reporter is stirring up mass panic among parents on the 6:00 o'clock news. Your Beijing-based manufacturer client has been accused of producing lead-based toys. Before you even sip your morning coffee five hours later, word has been spread around the world via social media channels.

When your client’s 2:00 a.m. phone call from Asia comes in, will you and your client be ready?

Data breaches in a whistleblower's world: What you should know, why you should know it

Data breaches are an ever-present reality in today's digital age. They can be among a corporation's steepest challenges, as the business's confidential and personal information explodes out of its systems and into the public domain.

Social media: The new battleground in civil litigation

Given today’s inundation of social media data, it’s a good time to find innovative ways to mine your data for information about clients and their potential adversaries, which can serve as possible evidence. A solid social media strategy can help businesses deliver quality services and retain their competitive edge.

10Minutes on why the COSO Update deserves your attention

Any effective system of internal control must adapt to new challenges and changes. Today's business environment strains controls that were once sufficient. The recently released COSO Update, authored by PwC, helps you refresh your controls for today's environment. For the first time in 20 years, the COSO Update considers changes in the business environment since the original 1992 Framework. Internal control has given companies reasonable assurance around financial reporting. This 10Minutes provides an overview of the benefits of conducting a review of your systems of internal control with the COSO Update. Applying the Update can help companies strengthen controls and bolster confidence in meeting operational, reporting, and compliance objectives.

Rapid Growth, Hidden Risks: The how and why of due diligence in Peru

Historically overshadowed by higher profile neighbors to the north and east, Peru remains one of the least well-known markets in the Americas — although it boasts one of the highest growth economies there. Omitted from investment acronyms like BRICS and CIVETS, which made Brazil and Colombia international brand names, Peru’s economy has quietly averaged nearly 6.4% annual growth since 2002 and outpaced the regional average by roughly 2% every year since 2005.

PwC Government Contract Compliance Quarterly Review

Q2 Government fiscal year 2013 – April 29, 2013
Providing critical regulatory updates to Government contracts and compliance professionals

Daubert Challenges to Financial Experts: A yearly study of trends and outcomes (2012)

This study analyzes post-Kumho Tire (2000–2012) challenges to financial expert witnesses under the Daubert standards. We identify observable trends in the frequency and outcome of these challenges based on written opinions in federal and state courts.

Information Risk Management: Aligning Your Records, Privacy, Cybersecurity, and E-Discovery Management Programs

Information is an organization’s most valuable asset. However, the law of diminishing returns applies: the more data an organization retains, the less its value. It becomes increasingly time-consuming to manage the information and more difficult to quickly access when necessary.

10Minutes on the stark realities of cybersecurity

This 10Minutes discusses why cybersecurity is more than an IT challenge—it’s a business imperative.

New technologies, well-funded and determined adversaries, and interconnected business ecosystems have combined to increase your company’s exposure to cyberattacks. Critical digital assets are being targeted and the potential impact to your business has never been greater. In order to sufficiently protect the business, future cash flows, and shareholder value, your approach to cybersecurity must keep pace.

International Arbitration Survey 2013: Corporate choices in International Arbitration

The 2013 Survey, 'Corporate choices in International Arbitration', investigates how corporations use international arbitration, with a particular emphasis on companies in three sectors of strategic importance to the world economy – Energy, Construction and Financial Services.

Intrigued by government contracting opportunities? What you should look at before you leap

With contracts totaling more than $5 trillion in the past decade alone, the US government is the world’s largest buyer of goods and services. Selling to the federal government, given its vast spending power, diverse procurement needs, and consistent year-to-year demand, can offer significant revenue and growth opportunities across the industry spectrum. While businesses often enter into such contracts enticed by the additional revenue stream, they frequently overlook associated risks that can adversely affect the entity long after the revenue flows in and the contract is complete.

2012 Securities Litigation Study

Each year, PwC’s Securities Litigation Study evaluates the private securities class action suits filed in the previous calendar year. In completing this, our seventeenth annual evaluation, it became clear that 2012 marked a significant departure: For the first time in the history of our reports, we were faced with a year that lacked any kind of sweeping, game-changing SEC rule or mandate, market driven event, or industry practice gone wrong. Rather, 2012 was a year that implied no clear direction as to where regulators or shareholders may focus in the future.

Threat Finance: More Licit and More Local Than You Think

Recent cases bring to light the reality that terror financing can come from surprising sources, including highly developed countries; and it can involve legitimate businesses and the traditional financial and banking system. Firms can write off fines and financial losses. But reputational damage is likely to endure. Allegations concerning financial ties to terrorism will tend to stick with stakeholders. A solid understanding of their third party business relationships is crucial to a firm’s ability to safeguard its operations and reputation.

This entails more than electronically screening for sanctioned counterparties; and it’s not enough to avoid informal dealings. Companies should undertake a strategic rethink of how they view threat finance risk and to approach it as a compliance priority alongside corruption and fraud detection.

 

Mission impossible? Six steps to continuos monitoring

Regulatory scrutiny is on the rise, along with the impetus to have a thorough understanding of business partners, especially in transactions involving agents, distributors, or business consultants.

The New FCPA Resource Guide: Enhanced Insight on Books and Records, Internal Controls, and M&A Due Diligence

In November 2012, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) published the highly anticipated A Resource Guide to the U.S. Foreign Corrupt Practices Act. The Resource Guide is an impressive, collaborative undertaking that addresses numerous topics never before assembled in one place.

The 120-page Guide is the first time many risk mitigation approaches are commented on collectively by the government. In our view, it also provides more copious insight in two areas that have previously not received enough attention: the Books & Records/Internal Controls Provisions and the procedures for FCPA due diligence in mergers & acquisitions (M&A).

 

New opportunities, unfamiliar third parties: The importance of due diligence in Mozambique

Mozambique is emerging from its status as one of the world’s poorest countries, boasting one of the highest growth economies in Africa, largely on the strength of its wealth of natural resources. To make the most of this potential, investors should take an analytical look at the realities on the ground. Like other emerging markets, Mozambique presents challenges, as well as opportunities. We'll explore this young market and the importance of due diligence in pursuing growth there.

 

Cybersecurity and Corporate America

The Obama Administration is taking steps to address/focus on cyber attacks on critical US infrastructure — the cyber identity theft, economic espionage, and sabotage activities that President Obama has called “real threats to our security and our economy.” Quote from the State of the Union speech These measures represent the Administration’s next steps in attempting to organize an in-depth defense of key assets, and the Federal Government is inviting the private sector to help shape and support this effort. Businesses with a proactive approach to cybersecurity may find opportunities in recent measures the Administration has announced. Our brief outlines how companies seize an opportunity to shape their future cybersecurity environment in three critical areas; expanding public-private information sharing, identifiying and prioritizing US critical infrastructure, and building a cybersecurity framework.

 

Defending commerciality: Considerations for contractors in managing increased government challenges to commercial item justifications

While contractors sell products and services to the US government through a variety of methods and instruments, contracting for commercial products and services streamlines the acquisition process by relying on observable market prices, rather than on an analysis of cost or pricing data; doing so exempts companies from certain compliance, audit, and reporting requirements. However, recent government actions indicate a proposed shift in the oversight of this method, creating new challenges for contractors both pre- and post-contract award.

 

The Case For a Combined Code of Business Ethics and Conduct

Are corporate codes of conduct and codes of ethics a luxury or a necessity in today’s tough—and perhaps shrinking—global economy? Compliance may be costly and burdensome, but it is crucial to success.

 

PwC Government Contract Compliance Quarterly Review

Q1 Government fiscal year 2013 – January 15, 2013
Providing critical regulatory updates to Government contracts and compliance professionals

 

Testing how clean your books really are

Today’s business environment prominently features a near zero-tolerance stand when it comes to bribery and corruption. Plenty of companies have already initiated compliance programs and policies. But far too few are taking equally appropriate steps to confirm their effectiveness and adherence. If you are not actively monitoring and testing, you may not be prepared to compete in today’s increasingly interconnected world.

 

Rules of Engagement for Confronting Corruption in Emerging Markets

As horizons expand internationally and emerging markets become more attractive investment options, corporations expose themselves to an increasing amount of risk. For stability operations organizations that regularly support government and private sector operations in the most dangerous places around the globe, such exposure is not new and is often unavoidable.

 

Tightening the Budget Belt: Managing Contracts and Profitability in Light of Government Spending Reductions

As US leaders eye measures to limit spending and decrease the nation’s debt, contractors should be paying close attention. The contracting environment will become more challenging and competitive. Contractors will need to show how they are now more lean, efficient, and focused on accountability.

 

PwC Government Contract Compliance Quarterly Review

Q4 Government fiscal year 2012 – October 25, 2012
Providing critical regulatory updates to Government contracts and compliance professionals

 

Another side of Dodd-Frank: Understanding Section 1504

Is your company an SEC registrant involved in the extractive industry? If so, it's imperative that you understand and begin to act on the requirements of Section 1504 of The Dodd-Frank Act. The first reporting deadline is drawing near, so now is the time to assess your data reporting capabilities and internal controls.

 

2012 Patent Litigation Study

Overview: Last year marked the most dramatic change to the US patent system in nearly six decades, with the passage of the Leahy-Smith America Invents Act (AIA), which converted the patent system from a 'first to invent' to a 'first inventor to file' system. The AIA, signed into law in September 2011, indeed brought significant changes in certain areas. But it did not address the calculation of damages in patent infringement matters, as had been suggested in prior drafts of the bill.

 

Contract Compliance: The Importance to C-Suite and Management

Strategic partnerships can a yield competitive advantage through innovation, growth, pricing, profitability, speed to market, quality, and global reach. The contractual arrangements that go hand-in-hand with these arrangements are as important and diverse as the strategic motivations that made the partnerships attractive in the first place. This piece explains how contract compliance programs can lead to near-term, sometimes immediate, financial results.

 

Are you extracting the right value from your contracts and avoiding revenue leakage?

Licensing compliance issues can have significant impact on a company's revenue streams and the overall value derived from these licensing relationships. This piece details how forensic accounting methods and sound internal and external licensing compliance programs can enhance these relationships, boost profitability, and cash flow by confirming compliance with contractual terms and conditions or revealing inadvertent misreporting or intentional underreporting, whether through omission or inaccuracy.

 

Counterfeit parts: Considerations for contractors in the context of emerging regulations

Overview: Numerous companies have learned the hard way about counterfeit components. But when counterfeit parts find their way into the world of defense contractors, serious problems can arise, from system malfunctions and failures to diminished efficiency and reduced product life span.

 

The Southeast Asian tigers roar again: this time for real

Overview: As advanced economies continue to limp out of the global recession, Southeast Asia is a rising star of the global market. The region is led by its five fastest-growing countries: Indonesia, Malaysia, the Philippines, Thailand, and Vietnam.

 

Cleaning up corruption

Companies with a global footprint, especially those expanding into new and unfamiliar territories, would be remiss if anti-corruption compliance wasn’t moved closer to the top of their priority list. The elements of a successful anti-corruption strategy start with a corporate-wide framework which should evaluate and address all of the entity's vulnerabilities.

 

Raising your anti-corruption IQ

In today’s vigorous regulatory environment, compliance programs predating such game-changing measures as the UK Bribery Act are not up to the challenge.

 

Reducing corruption risk by disrupting moral hazard

Anti-corruption practitioners know, perhaps now more than ever, that third-party relationships represent one of the primary areas of risk for potential violations of the global regulatory framework and generate the greatest number of sanctions. A business agent who pays a bribe to a government official in order to incentivize that official to award a contract or take a favorable action for the benefit of the agent's principal is illustrative of this practice evident around the globe.

 

View Issue 15

In this issue of PwC's View, companies can learn how to keep pace with change, and design a fiercest competitor as part of the strategy. Other articles look at cyber security and doing business in emerging markets.

 

Navigating the risks and opportunities in emerging markets

One question increasingly on the mind of a lot of corporate senior executives today is: What are the risk/opportunity tradeoffs of investing in emerging markets? Of course, emerging markets—a term that typically refers to all developing countries—are not a monolith. They are a very heterogeneous group. But the fact is that, as a whole, the rate of growth in emerging markets for the past decade and a half has been twice that of advanced countries, and this trend is unlikely to abate anytime soon.

 

Export Control Reform: How high are your company’s walls?

Reviewing existing export compliance measures can help companies gauge their readiness for the final reforms, as well as those initiatives that are still underway but may ultimately have a significant impact on business operations of the product life cycle.

 

Why General Counsel should care about Software Asset Management

General Counsel are often not involved in the initial negotiation of software license agreements, which can be a missed opportunity. Software license agreements can be complex and may include specific technical language which may not be clearly defined nor well understood outside of the IT world.

 

2011 Securities Litigation Study

The PwC Securities Litigation Study tracks US federal securities class actions filed since the passage of the Private Securities Litigation Reform Act (PSLRA) in 1995. In the 16 years that we’ve conducted this study, we’ve seen that litigation, like many aspects of life, comes full circle. As one crisis or event passes, another emerges, fueling a new pipeline of securities litigation and enforcement cases.

 

Daubert Challenges to Financial Experts: A yearly study of trends and outcomes

This study analyzes post-Kumho Tire (2000–2011) challenges to financial expert witnesses under the Daubert standards. We identify observable trends in the frequency and outcome of these challenges based on written opinions in federal and state courts.

 

Meeting Great Expectations in Due Diligence

This paper will share some of the lessons learned about third party due diligence programs in order to help you grow your business. We discuss 20 common points that can help bridge the gap between an ideal compliance setting and the real world.

 

The Case for Risk-Based Due Diligence: A practical approach to a complex problem

This paper will discuss many of the leading global due diligence drivers and look at the regulatory landscape to help you design a compliance program that complies with worldwide, as well as local, regulations.

 

Cost Accounting Standards Pension Harmonization Rule, CAS 412 & 413

On December 27, 2011, the Cost Accounting Standards Board (CASB) issued the long-awaited final pension harmonization rule titled Cost Accounting Standards: Cost Accounting Standards 412 and 413 - Cost Accounting Standards Pension Harmonization Rule 76 Fed. Reg. 81295 (the final rule).

 

Government Contracting in a Time of Budget Cutbacks: Competing through effective cost management

This paper will look at how contractors can take strategic cost management and competitive positioning to a new level: ways to make long-term impacts on organizational cost effectiveness and cost structure flexibility to improve competitiveness, take advantage of opportunities and withstand potential contract losses and business base setbacks.

 

Potential Impacts to the Industry from the GAO Study Regarding DCAA Access to Internal Audit Reports

In its December 8, 2011 report to the US Senate Committee on Armed Services, the US Government Accountability Office (GAO) reported findings and recommendations resulting from its audit of the use of internal audit reports and work papers by the Defense Contract Audit Agency (DCAA).

 

Restructuring Opportunities and Risk Considerations for Government Contractors

This paper lays out some of the key considerations and pitfalls for government contractors looking to explore reorganization as one of many possible responses to the changing economic environment.

 

Global economic crime survey 2011

PwC's biennial Global Economic Crime Survey, in its sixth year with almost 4000 respondents from organizations in 78 countries, is the most comprehensive global survey of economic crime available to businesses.

 

Marketmap - China: Pearls, pitfalls, and possibilities

China's ascension on the world stage is unquestionably one of the greatest economic stories of our time, and the fascination with it appears endless. But not many know what doing business in today's China really entails, much less implies. Marketmap takes a unique look at the realities.

 

10Minutes on Changing corruption risks

To help business leaders and corporate directors better understand the corruption risk landscape and more, to prioritize their company's response, we've compiled eight questions to direct to their operational teams.

 

Integrating technology into your compliance program to improve effectiveness and efficiency

Financial services firms should review their compliance and control systems to make sure they are fully functioning and compliant with new regulatory requirements being imposed by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

 

Broader perspectives; higher performance. State of Compliance: 2011 Study

PwC and Compliance Week teamed up to survey over 100 senior-level compliance executives at leading U.S. companies. The resulting report summarizes the findings of the study and provides selected benchmarking data in four key areas: Compliance organization reporting relationships and structure; compliance focus, scope and risk; metrics to gauge effectiveness; and budget, staffing and resources.

 

2011 Patent litigation study

PwC maintains a database of patent damages awards (from 1980 through 2010), collecting with specificity information about patent holder success rates, time-to-trial statistics, and practicing versus nonpracticing entity ("NPE") statistics (all from 1995 through 2010). This year's study adds industry classification and expanded NPE segmentation analyses.

 

Under the Table, On the Radar: Improving Anti-corruption Compliance for Financial Services Institutions

Financial services institutions do well to continuously adapt their anti-corruption programs and use consistent and clear leadership messaging.

 

Global State of Information Security Survey 2012

The 9th annual Global State of Information Security Survey 2012, a worldwide study by PwC, CIO magazine and CSO magazine. The survey – the largest of its kind – represents responses of over 9,600 IT, security and business executives in 138 countries across all industries.

 

Cyber Crisis Management: A bold approach to a bold and shadowy nemesis

Read on to learn more about how you can ensure that your business is well equipped to survive a cyber security incident or data breach of sensitive information by applying a new approach to cyber threat management that’s founded on the realities of the evolving cyber threat landscape.

 

Fraud in an economic upturn: Managing the downside of an upswing

We look ahead to highlight the issues that boards of directors and audit committees need to prepare for: the frauds that might emerge and the likely regulatory response to them.

 

A Guide to Forensic Accounting Investigation, Second Edition

Explore exactly what assurance auditors should be expected to provide and gain insight into alternatives to providing the capital markets more of what they are requiring—greater assurances that the financial state­ments they rely upon for investment decisions are free of material error, including fraud.

 

Developing a TIGHTer approach to corruption risk

Organizations can perform a formal, documented anti-corruption risk assessment using risk factors represented by the acronym TIGHT. The TIGHT methodology considers risk factors such as Type of official interactions, Industry, Geography, History, Tone at the Top, Training, Third Party interactions, and Transaction Controls. Regulatory expectations of compliance programs across the globe are increasing in sophistication and extent—TIGHT specifically addresses these expectations.

 

Brand monetisation - trust, but verify

To maximise brand monetisation, parties entering into a formal licensing agreement must do so in good faith and with a transparent and open approach. To avoid any future pitfalls, the expectations of both parties must be aligned.

 

2010 Securities Litigation Study

The PwC Securities Litigation Study, now in its 15th year, tracks US federal securities class actions filed since the passage of the Private Securities Litigation Reform Act (PSLRA) in 1995.

 

Investing in emerging markets
Russia: Realizing opportunities and managing risks

More than 80% of CEOs who responded to PwC's 14th Annual Global CEO Survey in January this year said they're conducting strategy makeovers, driven in large part by the changing dynamics between the developed and emerging economies.

 

Daubert Challenges to Financial Experts: An 11-year study of trends and outcomes

This study analyzes post-Kumho Tire (2000-2010) challenges to financial expert witnesses under the Daubert standards. We identify observable trends in the frequency and outcome of these challenges based on written opinions in federal and state courts. The study examines the challenges to provide insight into the reasons experts were challenged and excluded and to delve more analytically into the causes of exclusions based on the qualifications of the experts and the relevance and reliability of the expert testimony. The study also summarizes some of the specific financial, statistical, economic, and valuation methods that courts have found inadmissible.

 

E-Discovery Challenges on Global Matters

Published in the March 2011 edition of Compliance Week, this article reviews 10 common challenges of global e-discovery and how to overcome them.

 

Why cybercrime matters to General Counsel

General counsel involvement in cybercrime is increasingly critical to protecting the organization and its intellectual property from the significant (and successful) nature of the cyber threat. By virtue of their pivotal role within the company, general counsel need to arrive at the scene of the crime early, remain involved continuously, and be prepared to act quickly in the event the company comes under one such silent, yet potentially catastrophic, attack.

 

Are you compromised but don't know it? A new philosophy for cyber security

Learn more about how you can better protect your business from cyber threats by applying a new philosophy to cyber security which is founded on the realities of the cyber threat landscape.

 

Lead Directors: A study of their growing influence and importance

This inaugural study addresses the current and future role of lead directors and discovers that they will be expected to delve further into shareholder and governance issues, be more involved in risk management, drive succession planning to ensure the process produces top leaders, and strengthen the independence of the board. Lead directors from 16 sectors with revenue ranging from $4 billion to $100 billion were surveyed on crisis management, succession planning, risk management and their roles and responsibilities.

 

Simple measures help smaller firms reduce risk efficiently

This PwC article, which appeared in BNA March 15, 2010, provides insight and advice on how smaller firms can address and mitigate fraud.

 

Selecting the right investigative resource

by Greg Regan, CPA/CFF, and Kristin Rivera, CPA/CFF
When does an allegation of financial statement fraud call for an in-house investigation, and when is hiring outside experts prudent?
Copyright 2010. American Institute of Certified Public Accountants, Inc. All rights reserved. Used with permission.

 

PricewaterhouseCoopers Securities Litigation Third Quarter Update Shows a Decrease in Federal Securities Class Action Filings

Number of securities litigation class action filings through Q3 2009 has decreased 25% compared to the same time period in 2008; filings in healthcare industries may be showing an upward trend

 

2009 Global Economic Crime Survey: US supplement

Our study this year focused on relationships between the economic downturn and economic crime. Businesses operating in the US did not escape the impact of the global downturn unscathed.

 

10Minutes on combating corruption

10Minutes on Combating Corruption discusses the increase in prosecutions and fines being brought under the Foreign Corrupt Practices Act (FCPA), the spread of United Nations Convention Against Corruption (UNCAC) regulations, and the importance of developing an anti-corruption compliance strategy.

 

Service blues: Effectively managing the multi-billion dollar threat from product warranty and support abuse

This paper delves into the warranty service abuse faced by the technology industry, analyzes the abuse worldwide and identifies opportunities for curbing the ongoing threats arising from this form of entitlement abuse.

 

Licensing in the boardroom

This supplement to Intellectual Asset Management magazine identifies and explains the key issues in intellectual property licensing.

 

Resolution of purchase price disputes

This paper discusses questions and issues from the perspective of a practitioner who has been engaged as an advisor to buyers and sellers as the accounting neutral.

 

Cracking down: The facts about risks in the procurement cycle

This paper addresses the challenges in understanding how procurement fraud is perpetrated, how it is prosecuted, and how procurement risk can be mitigated by corporate compliance and prevention programs.

 

Confronting corruption: The business case for an effective anti-corruption programme

PwC's Confronting corruption report examines what companies are currently doing to manage the risk of corruption and the steps they can consider to better protect themselves in the future.

 

An overview of the securities litigation landscape

First published in The Metropolitan Corporate Counsel, this interview with Patricia Etzold provides an in-depth discussion of what's happening in the securities litigation arena, drawing on information from the PwC 2008 Securities Litigation study.

 

Contractor business ethics compliance program & disclosure requirements

This Briefing Paper discusses the development of the final rule, FAR Case 2007-006, “Contractor Business Ethics Compliance Program and Disclosure Requirements,” timing and applicability issues presented by the final rule, the rule’s mandatory disclosure, contractor code of business ethics and conduct, ongoing business ethics awareness and compliance program, and internal control system requirements, and enforcement.

 

Corruption crackdown

This paper addresses the trends in FCPA enforcement actions and helps clients understand how best to mitigate their risk in their international business operations.

 

Insights from an M&A monitor

A reprint from Executive Council: July/August 2009, Volume 6, Number 3.

 

Fraud in a downturn

This paper considers whether fraud, corruption, abuse and other integrity threats are changing during this period of global economic decline and, if so, how.

 

IP Value 2009

This unique publication is designed specifically for those holding senior positions in IP-owning companies. It reflects the fact that the identification, creation and exploitation of assets such as patents, trademarks, copyrights and know-how is now a mainstream boardroom issue.

 

TARP financing recipients should expect government to inquire into internal controls, ask how money is spent

This PwC article, which appeared in BNA February 16, 2009, addresses how TARP recipients can help mitigate the risk of fraud, waste and abuse.

 

Brands in the boardroom archive

This supplement to Intellectual Asset Management magazine explores a wide range of brand-related topics and identifies key issues in the creation and management of a brand portfolio.

 

Securities litigation study

PwC's annual Study tracks US federal securities class actions filed since the passage of the Private Securities Litigation Reform Act (PSLRA) in 1995 and analyzes key trends.

 

Patent litigation study archive

The Patent litigation study provides an overview and analysis of trends in patent litigation. The Study also addresses issues regarding companies’ patent positions, protection and enforcement strategies, and litigation tactics.

 

Now's the time to update your anti-fraud plan

This PwC article, which appeared in Fraud Magazine’s March/April 2009 issue, addresses how to apply the fundamentals of anti-fraud program assessments to better mitigate the business risk of fraud.

 

Financial expert witness Daubert challenge study

PwC’s research analyzes the broadening of Daubert’s application and how it has led to an increase in the number of challenges to all expert witnesses.

 

Managing international business and acquisition compliance risk

This roundtable, presented by PwC, The National Law Journal and The New York Law Journal, discusses acquisition compliance risk issues.

 

International arbitration study

This PwC Study analyzes the perceptions and attitudes of major corporations on the subject of the enforcements of international arbitration awards.

 

A guide to forensic accounting investigation

This book guides auditors and other financial managers through the key techniques needed to address fraud in today's corporate environment.