We just confirmed our first awesome speaker Niki A. den Nieuwenboer, Assistant Professor of Organizational Behavior and Business Ethics at The University of Kansas School
As the use of whistleblower programs continues to grow, many organizations find themselves struggling to manage burgeoning caseloads. As a result, serious fraud investigations can be delayed (with mounting
This e-book 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 going forward. The time is now for companies to take the next step up to make compliance a part of the business process of the organization. This would not only allow companies to meet the Department of Justice’s requirement that compliance programs be more fully operationalized, but it is our firm belief 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 AI, a robust compliance program can demonstrate internal commercial inefficiencies which can be remediated for greater return from assets.
Some of the biggest mistakes made when handling a crisis are not dealing with the problem head on, thoughtless or insincere comments, lack of communication with stakeholders, unprepared spokespeople, getting defensive after receiving backlash, or, sitting back and letting the problem grow. Domino’s, Sony, Samsung, BP, United Airlines, Equifax, KFC, are all good examples of companies who stumbled with crisis management. Organizations should study these crises and learn from the mistakes!» Read More
Tipsters have grown frustrated with the length of time it has taken the the SEC (“Commission”) to determine whether a tip warrants a reward.» Read More
Investigations in General
Poorly executed investigations can often increase the risk of scrutiny from government investigators, disruption to supply or distribution chains, and disgruntled employees venting on social media. So
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!» Read More
This one day fraud symposium, sponsored by Baker Tilly’s Forensic, Litigation, & Valuation Services Practice Group and hosted by the Institute of Internal Auditors, Philadelphia Chapter, will include topics
“Fraud is not an accounting problem; it is a social phenomenon.” Joe Wells
Most companies will not readily admit that their organizations may be vulnerable to fraud.
According to the 2020 Report to the Nations published by the Association of Certified Fraud Examiners (“ACFE”), which contains an analysis of approximately 2,500 cases of occupational fraud that were investigated between January 2018 and September 2019, organizations lose 5% of their annual revenues to fraud. While this number is only a general estimate based on the opinion, it represents the collective observations of anti-fraud experts who together have investigated hundreds of thousands of fraud cases. Based on the ACFE’s study, the median loss caused by frauds was $125,000, with 21.0% of the cases resulting in losses of at least $1 million.
If you think Good Tone or Conduct from the Top means you have an ethical environment, guess again!
Some of your people are up to no good.
Corruption can take many forms, but its root cause could and often does include a conflict of interest of some sort and possibly collusion.
OECD states, Conflict of interest
On December 6, 2018, in New York City, the Securities & Exchange Commission (“SEC”) Chair Jay Clayton delivered his speech, where he outlined where the SEC stands on its rule-making
American Conference Institute’s 35th International Conference on the Foreign Corrupt Practices Act
“Fighting white-collar crime is a top priority for the Department, and we increased prosecutions in every
Related party transactions could be a “red flag“, and must be evaluated with the proper skepticism! Perceived opportunities to commit management fraud include the ability of the fraudster to
As the organization’s ultimate decision-making body, the board of directors plays two critical roles: overseeing management on behalf of shareholders and other constituencies; and advising management, albeit with limited involvement in everyday company operations – nose in, hands off! The board should not attempt to run the operations of the organization; it should oversee how management runs the company.
I am amazed at how many members literally are not engaged, which reminded that one of the traits of an effective leader, or Pilot, is being a good team builder. But how can you build a good team if you don’t understand the players? I’m not speaking about understanding their skills, I am speaking about understanding their level of engagement. That amorphous concept most ignore.» Read More
Corporate governance is the collection of systems and processes that an organization has in place to prevent or dissuade potentially self-interested persons from engaging in activities detrimental to the welfare of shareholders and stakeholders and helps to promote better overall decision making.» Read More