Culture and Troubling Friends, Family, & Relationships…

Troubling Friends, Family, & Relationships With the recent frauds and bad acts in the news I can't help wondering who was recruited or jumped on the wagon to help perpetuate the misbehavior. Here are some thoughts for the board, audit committee, general counsel, compliance, and internal audit to consider. Fraudsters seek out those who share … Continue reading Culture and Troubling Friends, Family, & Relationships…

Fraud tip Friday! Root Cause and Critical Thinking…

“If you don’t ask the right questions, you don’t get the right answers. A question asked in the right way often points to its own answer. Asking questions is the ABC of diagnosis. Only the inquiring mind solves problems.” – Hodnett Root cause analysis is a tool to help identify not only what and how an … Continue reading Fraud tip Friday! Root Cause and Critical Thinking…

Audit Committees, Internal Audit, and Fraud Risk

Audit committees (AC) are charged with overseeing financial reporting and audit processes in U.S. public companies.  Scandals in the pre-Sarbanes-Oxley Act of 2002 (SOX) era (e.g., Enron, Global Crossing, Tyco International, and WorldCom) demonstrated that corporate governance could be compromised, resulting in fraudulent financial reporting (FFR). Among the provisions of SOX, Section 407 required companies to … Continue reading Audit Committees, Internal Audit, and Fraud Risk

Beyond the FCPA Strong Internal Controls and Effective Internal Audit are Critical Factors in Global Anti-corruption Efforts

Recent aggressive, anti-bribery actions by various governments are indicative of new challenges that businesses with global operations or supply chains are encountering. Although the U.S. Foreign Corrupt Practices Act (FCPA) has been the preeminent anti-corruption law for most companies with international operations or financial ties, in recent years other countries have become assertive in enforcing … Continue reading Beyond the FCPA Strong Internal Controls and Effective Internal Audit are Critical Factors in Global Anti-corruption Efforts

Board of Directors Guide to FCPA Compliance

Several years ago, Tom Fox was kind enough to post the “FCPA Compliance Overview and Action Plan” that I cobbled together based on my experiences. Since that time I have received many calls and e-mails for more information, so I decided to post it for others to consider using in practice. My goal is to continuously … Continue reading Board of Directors Guide to FCPA Compliance

March 9th, 2018, Fraud Symposium – Presented by the IIA Philadelphia Chapter & Moderated by Jonathan T. Marks

Time Speaker and Proposed Topic* 7:45 – 8:15 Registration and Continental Breakfast 8:15 – 9:30 Mark J. Nigrini will present on, “Digital Footprints”.  He is a faculty member at the College of Business and Economics at West Virginia University in Morgantown in the US state of West Virginia. Nigrini is best known for his work … Continue reading March 9th, 2018, Fraud Symposium – Presented by the IIA Philadelphia Chapter & Moderated by Jonathan T. Marks

Root Cause Analysis

Tom Fox podcast visits with Jonathan T Marks, CPA, CFE, on how to perform a root cause analysis and its uses in the remediation phase of a best practices compliance program. One new and different item was laid out in the Evaluation of Corporate Compliance Program, supplementing the Ten Hallmarks of an Effective Compliance Program … Continue reading Root Cause Analysis

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