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2020 Top 10 Articles on Fraud, Compliance, and Risk Management

New year 2021 and old year 2020 written on sandy beach with waves

Welcome to 2021

Happy New Year, and thank you to the more than 100,000 people that visited Board and Fraud in 2020!

With everything that happened last year, fraud, compliance, and risk management have arguably become more important than ever.

What follows are some of the most popular articles on the Board and Fraud Blog in 2020. Over the last two years, we have released two Compliance e-books that have received excellent feedback.

Popular articles in 2020

  1. Chief Compliance Officers (CCOs) and Personal Liability
  2. Board of Directors Oversight
  3. Three Lines Model or Enterprise Resiliency Model?
  4. The Next Level of Investigations
  5. Board Overconfidence: An Often Unrecognized Risk
  6. Skepticism – A Key Tool in the Fight Against Fraud
  7. Combating Fraud Through Effective Internal Controls
  8. Crisis Management – Lights, Camera, Action!
  9. The Use of Red Flags to Detect Misconduct or Fraud
  10. Collusion, Conflicts of Interest, and Corruption!

Compliance program game plan – helping protect your organization’s reputation

This is intended as a guide for chief compliance officers (CCOs) and those responsible for developing and implementing compliance policies and procedures for an organization. Compliance, when done properly and embraced fully, should be seen as a necessary business process. It is our vision that companies have more than a best-in-class compliance program in the future. The time is now for companies to take the next step up to make compliance a part of the organization’s business process.

This would allow companies to meet the Department of Justice’s requirement that compliance programs be more fully operationalized. Still, our firm believes that a more effective compliance program will make the company’s internal controls operate more efficiently and enable it to operate more profitably. With the increased efficiencies for compliance offered by data analytics and artificial intelligence (AI), a robust compliance program can demonstrate internal commercial inefficiencies that can be remediated for greater return from assets.

The continued evolution of best practices for compliance programs

Assistant Attorney General Brian Benczkowski announced in April 2019 (ECI speech) an update to the 2017 Evaluation of Corporate Compliance Programs. This document is entitled Evaluation of Corporate Compliance Programs – Guidance Document (2019 ABC Guidance). It should be mandatory reading for every Chief Compliance Officer (CCO), compliance practitioner and professional, or any other person interested in the latest guidance from the Department of Justice (DOJ) on what constitutes a best practices compliance program.

This Baker Tilly whitepaper discusses the 2019 ABC Guidance, identifies differences and newly listed items from the 2017 Evaluation of Corporate Compliance Programs, and provides insight on how the document should be used. Compliance professionals who find themselves embroiled in a major compliance failure, such as investigating a suspected violation of the Foreign Corruption Practices Act (FCPA), will find our whitepaper especially valuable. It will also help the compliance practitioner use the document as a road map to develop and implement a best practices compliance program.


Stay safe, and be well!

Jonathan T. Marks, CPA, CFF, CFE

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