GRC Report Staff

The Public Company Accounting Oversight Board (PCAOB) has issued a disciplinary order against PricewaterhouseCoopers LLP (PwC), imposing a civil money penalty of $2.75 million for violations of PCAOB quality control standards concerning auditor independence. This decision follows an investigation into deficiencies in PwC's quality control policies and procedures, which failed to ensure timely consultation on complex independence issues.

Today, the U.S. Department of the Treasury unveiled a comprehensive report aimed at navigating the burgeoning intersection of artificial intelligence (AI) and cybersecurity within the financial services sector. The release comes in response to Presidential Executive Order 14110, emphasizing the imperative of safe, secure, and trustworthy AI development and application.

In the wake of the devastating collision between the container ship Dali and the Francis Scott Key Bridge in Baltimore on Tuesday morning, supply chain and third-party risk specialists are closely examining the ramifications of this incident on global trade networks. As experts in identifying and mitigating vulnerabilities within supply chains, they underscore the critical role played by ports like Baltimore and the far-reaching consequences of disruptions in such key nodes.

Acting Comptroller of the Currency Michael J. Hsu delivered a thought-provoking address at CBA LIVE 2024, hosted by the Consumer Bankers Association, focusing on the pivotal role of fairness in enhancing compliance risk management within the banking sector. The event, held under the theme "For the People," underscored the imperative of prioritizing the needs of individuals and communities amidst evolving regulatory landscapes and technological advancements.

The European Commission is poised to launch investigations into tech giants Apple, Meta Platforms (formerly Facebook), and Alphabet's Google over potential violations of the European Union's Digital Markets Act (DMA), according to Reuters and sources familiar with the matter.

In response to the European Union's Digital Markets Act (DMA) coming into force, Google is making significant alterations to its operations. The move aims to ensure compliance with the new regulations and marks a pivotal moment in the tech giant's approach to business in the European Economic Area (EEA).

The U.S. Environmental Protection Agency (EPA) has unveiled the final national pollution standards for passenger cars, light-duty trucks, and medium-duty vehicles, setting a new benchmark for climate action in the United States. These regulations, spanning model years 2027 through 2032 and beyond, promise to revolutionize the automotive industry while significantly curbing carbon emissions.