DPAs are agreements between prosecutors and companies that essentially say authorities won’t prosecute fraudulent activity if a company agrees to pay a fine and get its regulatory house in order. Corporate leaders should know that the US and UK have different DPA systems in place.
This month, UK authorities announced that they've launched an investigation into KPMG’s conduct related to an audit of Roll Royce’s financial statements. The investigation appears to be part of a trend of holding auditing firms accountable for policing their clients’ financial behavior.
Barclays announced that UK authorities have launched investigations into CEO Jef Staley’s conduct related to two whistleblower claims. The affair sheds light on the ambiguity of whistleblower laws and on the benefits and disadvantages of protecting whistleblowers’ anonymity.