Insights

Navigating the global consulting industry requires deft handling of cultural intricacies and high-stakes negotiations, but even the most seasoned firms aren't immune to the pitfalls of corruption. The challenges of balancing ethical standards with the pressure to close deals can lead to serious missteps, showing that corruption can infiltrate even the most established and respected companies. The recent Foreign Corrupt Practices Act (FCPA) case involving Boston Consulting Group (BCG) serves as a compelling case study for compliance professionals across all sectors, offering both warnings and guidance on how to navigate treacherous waters.

In an era where data is often described as the new oil, Toyota, one of the world's largest automakers, finds itself again grappling with the consequences of a significant data leak. The incident, involving the exposure of 240GB of sensitive information, brings to the forefront the complex challenges of managing cybersecurity in a digitally interconnected business ecosystem.

With the Corporate Sustainability Reporting Directive (CSRD) looming like a back-to-school deadline, KPMG’s latest findings reveal who’s ready for the ESG exam—and who might be cramming at the last minute. The stakes are high, as companies not only face the pressure of ticking all the regulatory boxes but also the challenge of proving to increasingly discerning stakeholders that their sustainability efforts are more than just hot air. Those who are prepared are stepping up to the podium, while the less prepared scramble to catch up, knowing that in this high-stakes game, there’s no room for half-measures or last-minute cramming.

In today’s rapidly evolving business landscape, risk management is no longer just about avoiding pitfalls—it's about navigating the uncertain waters of opportunity and danger with agility and resilience. The modern approach to risk management is about mastering the art of navigating through an intricate web of opportunities and threats with both agility and resilience. This new paradigm recognizes that risk is not just a challenge to be mitigated but an integral component of strategic decision-making. In an environment characterized by relentless change and uncertainty—driven by technological advancements, global interconnectedness, and shifting market dynamics—organizations must develop a proactive and adaptive risk management strategy. This means anticipating potential disruptions, seizing emerging opportunities, and building organizational resilience to bounce back stronger from setbacks. Effective risk management today requires a dynamic, forward-thinking approach that not only protects against adverse events but also leverages risks as catalysts for growth and innovation. By integrating risk management into the core of their strategic operations, organizations can better navigate the complex terrain of the modern business world, ensuring long-term success and sustainability.

The Dutch Data Protection Authority (DPA), in cooperation with the French data protection authority CNIL, has imposed a colossal €290 million fine on Uber B.V. and Uber Technologies Inc. The penalty, announced on August 26, 2024, stems from Uber's unauthorized transfer of European drivers' personal data to the United States without implementing sufficient safeguards—a violation of the General Data Protection Regulation (GDPR).

Texas Attorney General Ken Paxton has filed a lawsuit against industry titan General Motors (GM) over the company's alleged unlawful collection and sale of driver data. This action comes as part of a broader data privacy and security initiative launched by Paxton to aggressively enforce Texas privacy laws.

Organizations today are increasingly turning to their internal audit teams to bridge the widening gap between risk demands and risk management capacity. A recent survey conducted by AuditBoard sheds light on this shift, revealing that the role of internal audit is expanding significantly as companies seek to bolster their resilience against emerging threats.