Do you have corruption under control(s)?

Regulators are increasingly focusing on internal controls companies have in place to prevent and detect corruption. How can you increase your compliance IQ — and design robust anti-corruption controls? Consider starting with known business processes. Our specialists lay out key considerations here.

Building a culture of compliance

With today’s intense regulatory focus, it is critical that companies adopt leading practices to impart a culture of compliance and protect what matters most: their reputation and value.

PwC GFY16 Q4 Government Contracts Compliance Review

Providing critical regulatory updates to Government contracts and compliance professionals.

Up to Speed: The importance of SAFETY Act Certification

In response to the tragic events of 9/11, the Federal Government enacted the SAFETY Act, which provides protection from legal liability under certain circumstances resulting from a terrorist attack. How can companies adopt leading security practices? Is your company properly protected in the event of attack?

PwC GFY16 Q3 Government Contracts Compliance Review

Providing critical regulatory updates to Government contracts and compliance professionals.

Corruption and public works: Maintaining an integrity edge

Corruption threatens companies in every industry, but construction and engineering firms face special challenges. Those risks are higher still in the sphere of public works contracting — which is, according to Transparency International, the most bribery-prone sector globally.


GSA Final Rule: Transactional Data Reporting

On June 23, 2016, the General Services Administration issued a final rule for Transactional Data Reporting. Here's what you need to know.

Global Economic Crime Survey 2016: LATAM Supplement

PwC's 2016 Global Economic Crime Survey - LATAM results indicate that 28% of responding organizations have experienced economic crime in the last 24 months. Our report is intended to help assess the risks of economic crime and potential impacts, and to help prepare prevention and detection plans to defend your organization from these risks.

Conducting due diligence in Japan

Given the magnitude and diversity of Japanese economic activity, companies seeking to do business in Japan or with Japanese companies should understand the context, opportunities, and limitations of conducting due diligence in this part of the world in order to help mitigate risks.

2016 Patent Litigation Study: Are we at an inflection point?

PwC’s 2016 Patent Litigation Study provides an analysis of US patent infringement actions. These observations/trends can help executives, legislators, and litigators assess their patent enforcement or defense strategies.

Daubert challenges to financial experts (2016)

PwC’s Daubert  study analyzes challenges to financial expert witnesses under the Daubert standard,  looking to emerging trends and recurring themes to provide insight into why experts were challenged and excluded.

Human trafficking and forced labor: Ethical supply chain challenges for multi-national companies

More than 20 million people worldwide are subject to human trafficking and forced labor. This forced labor is estimated to generate $150 billion in illegal revenue each year. How might your organization be affected? What can you do to address your risks?

PwC Government Contract Compliance Quarterly Review - April 2016

Providing critical regulatory updates to Government contracts and compliance professionals.


Addressing the risk of your “Fourth Party”

The behavior of an organization’s third parties can lead to exponential levels of regulatory and reputational risk. This article highlights the importance of addressing the corruption threats in your “counter-party” relationships.

Small companies, big targets: 2015 Securities Litigation Study

As emerging growth companies continue to maintain a strong share of the IPO market, shareholder litigation focuses on the small. For the third straight year, we saw an annual increase in the number of federal securities class action lawsuits filed - with the data uncovering that two-thirds of the 2015 federal securities class action cases targeted smaller companies. What might happen when new revenue recognition rules come into effect next year? How are emerging growth companies preparing to handle increased scrutiny? How might deals activity, cybercrime, judicial updates and the so-called Yates memo impact litigation? What might all of this mean for your company?

International humanitarian assistance: The imperative to combat corruption

Refugees in and out of war-torn countries. Deadly disease outbreaks. Natural disasters. War. These are only some of the humanitarian crises that the international community is currently confronting. Increases in funding are a positive step, but are unfortunately accompanied by significant exposure to corruption risks. How can companies strengthen the integrity and outcome of relief efforts?

PwC Government Contract Compliance Quarterly Review - February 1, 2016

Providing critical regulatory updates to Government contracts and compliance professionals.

Global Economic Crime Survey - US Results

This year's survey reveals that while the global level of report economic crime - now at 36% - has remained essentially flat since our 2014 survey, new types of economic crimes – and means to commit them – has complicated the threat landscape. In our largest survey to date, we surveyed 6,000 global executives from 115 countries on their experiences with economic crime and its impact on cybercrime, ethics & compliance and anti-money laundering programs. As you read through the report, we challenge you to adjust your lens on economic crime from the fraudster’s opportunity to commit the crime; to your opportunity to prevent it. 

What’s in Your Yard? Export control reform: What you need to know now

We take a fresh look at the current state of U.S. Export Control Reform initiative – with a view to offering some suggestions for companies caught in a shifting paradigm.

Building anti-corruption compliance into your global go-to-market strategy. What you need to know about third-party risk and international expansion

Cross-border transactions can take many forms. Your overall compliance strategy needs to be sophisticated enough to address the specific corruption risks you will face.

Safeguarding controlled unclassified information

The National Archives and Records Administration (NARA) proposed rule on Controlled Unclassified Information.

PwC Government Contract Compliance Quarterly Review - October 2015

Providing critical regulatory updates to Government contracts and compliance professionals.

Global State of Information Security Survey 2016

This year, survey respondents reported they have significantly boosted information security spending to better enable them to tackle the cybersecurity juggernaut head on. Read on for details on how innovative organisations are addressing this challenge.

2015 US State Of Cybercrime Survey

Cybersecurity incidents are not only increasing in number, they are also becoming progressively destructive and target a broadening array of information and attack vectors.

US State of Cyber Crime Survey

As cybersecurity incidents multiply in frequency and cost, the cybersecurity programs of US organizations do not rival the persistence and technological prowess of their cyber adversaries.


PwC State of Compliance Survey 2015

How can you engage with leadership to minimize the impacts of regulatory pressures on the achievement of your strategic goals?

Protecting the franchise: How to face the evolving threat landscape in professional sports

Risk management strategies such as Sports Intelligence are no longer a luxury for professional sports organizations. They’re crucial when it comes to building — and protecting — a successful franchise. 

Daubert challenges to financial experts 2015 mid-year update

This update reflects observations from our analysis of Daubert challenges for the first six months of 2015, and also highlights challenges of particular interest. 

Resolution of purchase price disputes. Insights of dispute practitioners and arbitrators

What happens if the buyer and seller don’t agree on the final purchase price in a Sales and Purchase agreement (SPA) involving the acquisition of a business? 

Strong Athletic Compliance Programs: A Win-Win for Athletic Departments and Universities

Universities and their athletic departments — for all their regard and success — are not above the law. A spate of recent, highly publicized incidents have underscored the need for institutions to carefully manage not only their athletic programs but also the way they handle hot-button allegations of off-field misbehavior. This article provides a blueprint for a credible, robust compliance program — a true win-win for institutions and their larger community of athletes, students, employees, trustees and fans. 

It’s a new compliance calculus: How compliance risks are altering company approaches to global deals

More than half of Global CEOs plan to enter into a partnership–strategic alliance, joint venture or other activity this year. With evolving regulations rampant, how are organizations adapting their approaches to deals? PwC brought together a panel of corporate compliance professionals to discuss related issues. What follows is a summary of this discussion.

PwC Government Contract Compliance Quarterly Review

Q2 Government fiscal year 2015 – June 10, 2015

Overview: Providing critical regulatory updates to Government contracts and compliance professionals.

The New Internal Control Framework: Perspectives for Litigation Counsel

While prosecution of accounting fraud is often understood to involve financial accounting misstatement, the Securities and Exchange Commission (SEC) is increasingly advancing the theory of fraud to include issues around internal controls over financial reporting (ICFR). The purpose of these internal controls is to provide reasonable assurance regarding the preparation of financial statements for external purposes, in accordance with generally accepted accounting principles. An effective ICFR includes controls that ensure that both the amounts on the face of the financial statements — and the related disclosures in the footnotes — are materially correct.

2015 Patent Litigation Study: A change in patentee fortunes

Intellectual property matters have an indisputable link to competitive advantage. Our 2015 Patent Litigation Study provides a comprehensive analysis from a database of US patent infringement actions, which includes data from 1995 through 2014. The observations and trends identified in our analysis can help executives, legislators, and litigators assess their patent enforcement or defense strategies.

GSA Proposed Rule: Transactional Data Reporting

In an effort to implement horizontal and dynamic pricing techniques, the General Services Administration (GSA) proposed a rule which will require reporting of transactional federal sales data. Reporting requirements would apply to Multiple Award Schedules (MAS) on a pilot basis and all Government Wide Acquisition Contracts (GWACs where transactional data is not already collected. The requirement to monitor sales to the defined tracking customer under the Price Reductions Clause would be eliminated for those required to report transactional data. This requirement will create significant challenges for contractors to generate data from accounting systems that includes all required elements. Contractors should monitor the proposed rule as it evolves.

Coming into Focus: 2014 Securities Litigation Study

With financial crisis-related litigation largely played out, accounting-driven federal securities class actions are on the rise. This trend may be driven by increased public attention on financial fraud, in addition to the US SEC's and other regulators’ focus on detecting and prosecuting various forms of improper financial reporting.

Daubert Challenges to Financial Experts (2014)

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. This study analyzes post-Kumho Tire (2000–2014) challenges to financial expert witnesses under the Daubert standards. We examine challenges to financial expert witnesses under the Daubert standards to provide insight into why experts were challenged and excluded. In addition, on the 15th anniversary of the Kumho Tire decision, this year’s study includes our observations of some of the recurring themes in challenges to financial experts over the last 15 years.

Zoomlens - Going beyond due diligence in Cuba
Using strategic threat management to improve the odds of business success

Successful businesses compete in global markets by putting a premium on accurate information, analysis and strategy development. What should you know and do to make the most of potential opportunities afforded by emerging markets? How will you navigate the opportunities – and threats – given recent changes to US policies towards Cuba?

A Digital Economy Requires a Digital GC

It is a fact of 21st century corporate life: In a digitally based business environment, general counsel need to be digitally literate. Read more.

Navigating a course for growth

With increasing pressure from shrinking government budgets, government contractors are looking for ways to diversify and profitably grow their businesses. Making the leap from government to commercial markets creates challenges that companies must face with regard to their business approach, their regulatory responsibilities, their corporate culture and even their fundamental competencies. With clear goals, a comprehensive operating model, and the right leverage of key resources, commercial market opportunities can be successfully navigated by government contractors.

PwC Government Contract Compliance Quarterly Review

Q1 Government fiscal year 2015 – February 26, 2015

Providing critical regulatory updates to Government contracts and compliance professionals.

Business Partners: Pragmatic Steps to Managing Your Clients’ Compliance and Litigation Risk

A global company, facing a joint DOJ/SEC probe involving strategies and business operations in seven emerging markets — and in the midst of conducting its own internal investigation — has engaged you to provide counsel on remediation considerations. Aware that your client’s expansive third-party footprint creates both regulatory scrutiny and litigation exposure, you advise the company to embark on a top-to-bottom review of its global compliance program.

Cyber-risk guidance from the SEC: New realities for a new level of threat

It seems that nearly every day we hear of another successful cyber attack on a highly visible organization. Indeed, data breaches of just about every type are on the rise — in frequency, sophistication, and risk impact. From personal financial and healthcare information to intellectual property and trade secrets, these breaches show no sign of abating.

fs Viewpoint Threat smart: Building a cyber resilient financial institution

Cyber risk is more than an IT issue; it’s a business issue. Find out how to build a cyber resilient organization. The traditional information security model – controls and compliance based, perimeter-oriented, and aimed at securing data and the back office – does not address the realities or complexities of cyber risk today. Financial institutions should see cyber risk management as an integral aspect of managing their business and controlling risks. While this doesn’t eliminate cyber risks, it allows you to manage those risks through an informed decision-making process.

PwC Government Contract Compliance Quarterly Review

Q4 Government fiscal year 2014 – October 2014

Providing critical regulatory updates to Government contracts and compliance professionals.

Are you prepared to protect your brand? Enhance your product recall process

Recalls can have a devastating impact on the operations and brands of retail and consumer companies. But companies that manage the recall process effectively can transform a potential crisis into a business advantage.

Driving Records & Information Management Transformation: Enabling program adoption

Companies are increasingly exposed to legal and regulatory risk resulting from inability to manage the staggering amount of data they generate. Now more than ever, companies must invest in consistent, understandable and defensible records management programs to structure the entire life cycle of information — from creation to destruction. The right technology is important, but “people challenges” often pose the biggest obstacles to success. Companies that anticipate and plan for these challenges are most likely to reap the benefits they seek from records management technology and process investments.

Nuisance or nightmare?
Responding to highly public allegations

Seven days before the filing deadline for an SEC registrant’s annual financial statements, the CFO learns that a prominent hedge fund manager with a short position in the company has posted a document online detailing a variety of damaging allegations against the company.

Managing your Oracle Estate to improve your Oracle investment

It is not easy to build a strong Software Asset Management (SAM) process for Oracle products. The use of virtualization and cloud solutions further complicate your ability to discover and measure Oracle product usage. Even with these challenges, it is essential for you to gain visibility into your Oracle product entitlements and have the means to deploy and track your Oracle product usage to the greatest benefit of your company.

Surviving Contact with Reality - Crisis exercises as a key element of cyber incident and crisis management response

Corporations occasionally face dramatic, even extinction-level crises that defy incident response plans housed in a single department, or present contingencies that have no prior planning. These events don’t happen often, but when they do, they can damage share price, reputation, and careers from the Board, the C-Suite, and many other positions further down the corporate ladder. However, all too frequently companies are unprepared and react reflexively, often failing to consider: who should be in the room making decisions; how emerging issues should be prioritized; and how to think strategically beyond the next 24 hours. Crisis management exercises are one way to test a corporation's capabilities, skills, and knowledge of existing plans if a crisis occurs, and should be a cornerstone of an effective incident response and crisis management strategy.

The case for a combined code of business ethics and conduct

Are Codes of Ethics and Codes of Conduct a luxury or necessity for companies facing today’s tough – and some would say shrinking – global economy?

Daubert challenges to financial experts: 2014 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 2014, and also highlights challenges of particular interest.

Is your organization conflicted?
Organizational Conflicts of Interest pose reputational, legal, regulatory and financial risks - and they are very difficult to detect. Without resorting to overly intrusive procedures, how can organizations manage the risks posed by Conflicts? This white paper discusses some of those risk-mitigation techniques, and how they might apply in your organization.

PwC Government Contract Compliance Quarterly Review
Q3 Government fiscal year 2014 – July 25, 2014

Providing critical regulatory updates to Government contracts and compliance professionals.

2014 Patent Litigation Study
In some ways, 2013 appeared to be a moderating year in patent infringement litigation. The “mega” verdicts of prior years (2012 saw three cases that resulted in damages awards of over $1 billion) were missing, with the largest new award falling to just over $200 million. Four of the ten largest awards from previous years were settled, overturned, modified or remain under appeal in 2013. And the median damages award continued its gradual downward tapering, to $4.3 million in the most recent four-year period.

The False Claims Act Implications of the Patient Protection and Affordable Care Act Exchanges
Much of the concern over the Patient Protection and Affordable Care Act (PPACA) has focused on the operational and financial challenges associated with these and other reforms. A topic that has received less attention, however, is the significant exposure these reforms invoke through the application of the False Claims Act (“FCA”). This article will introduce some key areas of FCA exposure under the PPACA and present potential questions to understand and manage these new risks.

PwC State of Compliance Survey, 2014
Today’s Chief Compliance Officers (CCOs) face more responsibility than ever, but also an opportunity to play a more strategic role in their organizations and become vital members of the C-suite. Read to learn more about the key lessons that emerged from our 2014 survey.

US cybercrime: Rising risks, reduced readiness - Key findings from the 2014 US State of Cybercrime Survey
The findings of the 2014 U.S. State of Cybercrime Survey reveal that while the number of cybercrime incidents and the monetary losses associated with them continue to rise, most U.S. organizations’ cybersecurity capabilities do not rival the persistence and technological skills of their cyber adversaries. According to the report, only 38 percent of companies have a methodology to prioritize security investments based on risk and impact to business strategy. The survey is a collaborative effort with PwC, CSO magazine, the CERT® Division of the Software Engineering Institute at Carnegie Mellon University, and the U.S. Secret Service.

Q2 Government fiscal year 2014 – April 30, 2014
Q2 Government fiscal year 2014 – May 2014

Providing critical regulatory updates to Government contracts and compliance professionals.

Identifying the gaps - Channel Compliance Contract Practices
Contracts serve as the cornerstone to relationships between companies and their partners. They serve as the enforceable commitment companies and partners make to each other. Despite the importance of business agreements in the day to day activities of original equipment manufacturers (OEMs) and their channel partners a knowledge gap exists. Little insight exists into common OEM contracting business practices within the channel partner space. This piece provides insight into OEM channel partner contracting practices and helps identify contracting issues OEMs are failing to address.

Game on: Private Equity Investment in Africa
Over the past several years, interest in Africa as a destination for investment has been growing at a steady clip. Private equity was the first to make serious inroads into this heterogeneous continent of 54 countries. More recently, multinational corporations and a variety of other investors have entered the fray.

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 (2000–2013) 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.