3 from yesterday

  1. 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.
  2. 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.
  3. 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.

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Filed under Compliance, Controls, Culture, Duty, Employees, Governance, Internal controls, Management, Oversight, Protect, Protect assets, Third parties, Vendors

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