Lawmakers question quality of KPMG’s Wells Fargo audits

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Two U.S. Senate Democrats are asking a U.S. audit watchdog to review whether KPMG failed to disclose or prevent fraud when it audited Wells Fargo’s books during the time period that the bank’s sales force was opening two million unauthorized accounts. In an April 25 letter to Public Company Accounting Oversight Board Chairman James Doty, Massachusetts Senators Elizabeth Warren and Edward Markey said they were concerned that the accounting company issued clean audit reports for Wells Fargo & Co from 2011 through 2015 even though KPMG became aware of the fraud during at least some of that time.

April 26, 2017 at 01:05PM

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Wells Fargo CEO’s promise: We will ‘fix everything that was broken’ – HITC

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Wells Fargo CEO’s promise: We will ‘fix everything that was broken’
HITC
“They were voting to send a message to the board, and we clearly got that message that we need to resolve these problems and continue to make Wells Fargo a better bank,” Sanger said. Sloan who was appointed CEO when longtime executive John Stumpf …

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April 26, 2017 at 12:47PM

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Intel Partnership Creates Revenue for Building Owners & Managers

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Entrepreneur Syed Ahmed (best known for his appearance on The Apprentice), the founder and MD of the multi-award winning hand drying technology manufacturer, SAVORTEX, has teamed up with Intel to launch the adDryer, the world’s first smart and revenue share producing hand dryer for the corporate washroom sector. It follows successful trials at Heathrow Airport, RBS and the British Library, and the recent announcement of SAVORTEX as a Successful Innovator by the American Fortune 500 corporation Cummins, as part of its Environmental Gateway programme.

The adDryer is an IoT-enabled smart dryer which includes a digital screen that can deliver tailored, high-definition video messages to users, which can be used for internal marketing or as an additional revenue stream. By working with the building owner, SAVORTEX can create an audience value of the estate based on the users of the building, for example gender, age and occupation. The company’s media buyers can then use this information to set and agree a cost per view rate that will be paid to the building owner each time someone uses an adDryer and sees an advert, thus creating revenue.

Built on Intel technology, the adDryer also alerts cleaners to washroom needs based on actual footfall allowing companies to transform wasteful and costly commercial washrooms into connected, hygienic, and sustainable revenue-producing assets.

SAVORTEX’s range of energy saving and smart EcoCurve hand dryers has been designed to transform the washroom market by delivering unrivalled levels of sustainability, energy savings and operational resource savings from the analysis of meaningful data. Each of the dryers in the range shares the same features including:

  • A sleek sustainable design
  • A depth of just 134 mm
  • A patented energy recovery and curved air delivery technology which results in a 66% energy saving compared to any other dryer on the market and 97% savings when compared to using paper towels

Syed Ahmed, Managing Director at SAVORTEX said: “The aim of the EcoCurve range is to disrupt the washroom sector.  With a focus on smart connected devices, providing data and insights for operators, it is unique in the market. The adDryer allows companies to transform wasteful and costly commercial washrooms into connected, hygienic, and sustainable revenue-producing assets. This revolutionary product that will help businesses reduce costs and boost revenue.”

Rod O’Shea, EMEA IoT Group Director, at Intel UK, said: “This is Intel’s first foray into the hand drying sector. It is a great opportunity to demonstrate how with smart building management and connected devices, enterprises can use data to drive additional revenue streams while reducing operational costs and saving energy. We are proud to work with SAVORTEX, co-developing a product which we can bring to market to drive great customer experiences.”

Martin McCourt, former CEO at Dyson, said: “It is fantastic to see a British company leading the way in technological innovation. SAVORTEX is a forward thinking and dynamic company with a product range that will revolutionise the washroom sector. I was instantly impressed with the adDryer and look forward to seeing what they do next.

April 26, 2017 at 12:52PM

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