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.» Read More
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
Caremark, Compliance, and Caution! Read why having active and engaged board oversight in the areas of risk and compliance is a must!» Read More
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!» Read More
“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.
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
As My good friend Robert Mainardi says, “When presented with any new technique, approach, or methodology, there is always the temptation to jump right in and start using it
In addition to establishing an ethical environment, board members and management must also take the lead in implementing and maintaining a formal fraud risk management program. One key element of such a program is a fraud risk assessment.
Risk assessments are part of the discipline of risk management, where enhanced frameworks and techniques have emerged. Risk management comprises the identification, assessment, and prioritization of risks followed by the coordinated and efficient use of resources to monitor, minimize, and otherwise control the impact of the risks on the organization.