- More on governance than information, but the CEO at BHP got his bonus docked after a large industrial accident. It’s a shame, but isn’t it nice to see the people at the top taking a hit, not just the shareholders? Motivates the CEO to avoid such stuff, right? “BHP Billiton Withholds Bonus of CEO Andrew Mackenzie,” The Wall Street Journal, August 31, 2016 B2.
- Fudging the figures on mileage continues not to be a good thing. Mitsubishi takes a hit in Japan, again. 8.8% error. Lax management oversight blamed. “Some Sales Halted Over False Fuel Data,” Business Watch, The Wall Street Journal, August 31, 2016 B5.
- Compliance requires checks and double checks. The double checks by Deloitte & Touche and PWC found deficient. 24% error rate over the sample. Checkers checking checkers. “Accounting Flaws Are Uncovered In Dozens Of Audits,” The Wall Street Journal, August 31, 2016 C3.
3 from yesterday
Filed under Compliance, Controls, Culture, Duty, Employees, Governance, Internal controls, Management, Oversight, Protect, Protect assets, Third parties, Vendors