About Board and Fraud

Board and Fraud is a blog that aims to bring a practical approach to issues facing the board of directors and the audit committee specifically in the area of governance, risk management, compliance, and internal audit, with a strong focus on fraud, ethics, and internal controls.

Transparency! The New Anti-Money Laundering Act (AMLA)

On December 11, 2020, the Senate passed the Anti-Money Laundering Act of 2020 (“AMLA” or the “Act”) – DIVISION F of the National Defense Authorization Act for the fiscal year 2021 (the “NDAA”). The House of Representatives had previously passed the measure on December 8, 2020.

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SEC and its New Silent Whistleblower: Risk Based Data Analytics

The SEC just announced its first actions arising from investigations generated by the Enforcement Division’s EPS (Earnings Per Share) Initiative, which utilizes risk-based data analytics to uncover potential accounting and disclosure violations caused by, among other things, earnings management practices.

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Webinar – July 28, 2020 – Best Practices for Conducting Remote Internal Investigations

In this pandemic era, global companies have been challenged to maintain a reliable and effective internal investigation program. Companies have relied on remote investigation strategies to collect and review documents and conduct interviews. In conducting remote investigations, companies have to ensure that they follow investigation requirements, maintain the confidentiality of the process, and comply with applicable data privacy rules and security requirements.

In this webinar, Jessica Sanderson, Partner at The Volkov Law Group, and Jonathan T. Marks, Partner| Leader of the Global Forensic Investigation, COmpliance & Integrity Practice at Baker Tilly, will discuss best practices for conducting remote internal investigations. They will outline strategies for collecting and reviewing documents, analyzing financial data, and conducting interviews using remote technologies.

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IIA Philadelphia and Baker Tilly’s Fraud & Ethics Symposium is Postponed! Stay tuned for the new date.

This one-day fraud symposium, sponsored by Baker Tilly’s Global Forensic, Compliance and Integrity Services, and Solutions Practice Group and hosted by the Institute of Internal Auditors, Philadelphia Chapter, will include topics such as:

•Culture
•Current trends in white-collar crime
•Tone is the middle
•Policy management
•Case study on a local fraud

Discover who will be speaking and register for the event!

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Speaking and Training on Fraud, Compliance, Ethics, and More…

Welcome to my site. I have spoken and been the keynote speaker for many conferences, including the ABA, ACC, ACFE, IIA, and IMA to name a few. I have designed customized training for the board, senior leadership, legal, compliance, internal audit, and others for some of the world’s largest organizations.

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Fraud: Department of Justice (DOJ) Announces Procurement Collusion Strike Force

On November 5th, the Department of Justice announced the formation of the new Procurement Collusion Strike Force (PCSF) “focusing on deterring, detecting, investigating and prosecuting antitrust crimes, such as bid-rigging conspiracies and related fraudulent schemes, which undermine competition in government procurement, grant and program funding”.

The Strike Force is an inter-agency partnership comprised of prosecutors from the Antitrust Division, and prosecutors from thirteen (13) U.S. Attorneys’ Offices.  Aiding in the prosecutors’ efforts are investigation partners such as the Offices of Inspector Generals from the Department of Justice, Department of Defense, U.S. Postal Service, and General Services Administration Office. The Department of Justice’s announcement proclaimed that investigating and prosecuting those who “cheat, collude and seek to undermine the integrity of government procurement” will have more to concern themselves with when executing their crimes. Prosecutors and investigators alike expressed enthusiasm to be working as a part of this new team.

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Baker Tilly’s 2019 Effective Governance and Compliance Roundtable Series – May 1, 2019 – CPE Event in Philadelphia -Using Continuous Auditing and Monitoring in the Fight Against Fraud

Organizations are under increasing scrutiny regarding ethical lapses and allegations of fraud. Fiscal year 2018 was a record-breaking year for the U.S. Securities and Exchange Commission’s whistleblower program, as more and more individuals have been coming forward with allegations of impropriety. Come learn how to use continuous auditing and monitoring in the fight against fraud – or help improve your compliance program!

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Fraud Tip Friday: Small Dollars, Big Problems

Last week, a Transit supervisor and five others were charged in connection with a scheme to steal over $2 million from the agency. The kicker: the payments were under the limit of $5,000 – roughly speaking, that’s over 400 payments!

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