Reposted from CFO.com The GDPR could affect almost every U.S. consumer goods and services company, and plenty of other organizations, that do business in the EU. The European Union’s General Data Protection Regulation, or GDPR, takes effect on May 25, 2018, and will have major implications for businesses with connections to Europe. GDPR is designed … Continue reading Why GDPR Matters
Every U.S. company conducting or seeking business abroad is subject to the Foreign Corrupt Practices Act (FCPA) and it's no secret that 3rd party issues still present the highest risk under the FCPA. In fact, some say that 90%+ of reported FCPA cases involve third-party intermediaries! Yet many Boards and Audit Committees seem unsure as … Continue reading Audit Committee Primer on 3rd Party Risk Management
The audit committee plays an important role in navigating a restatement...
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
https://www.wsj.com/articles/when-to-use-the-ceo-as-crisis-spokesman-1516965013 Knowing whether to deploy the chief executive as its public face during a crisis is a tricky question for a company to answer but two recent research papers say there are times when it is more advantageous to do so. The first paper, published in December in the Journal of International Management, found the … Continue reading When to Use the CEO as Crisis Spokesman
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
In a recent article by the Wall Street Journal states that "Corporate boards are seeking greater insight into cyber security risks in the aftermath of the recent breach at Equifax Inc. The hacking attack on the credit-reporting firm last summer was a defining moment for directors, say technology and corporate-governance experts. As cybercriminals damage company reputations … Continue reading Board of Directors Oversight and Cyber Strategy
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
Tom Fox is partnering with Marcum LLP to put on a two-day Doing Compliance Master Class, which will be unlike any other class currently being offered. It will be held in Miami, FL on February 12 & 13, 2018. This Doing Compliance Master Class is not theory or analytical underpinnings of the FCPA. The focus … Continue reading Doing Compliance Master Training Miami, February 12 and 13, 2018
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.
We seem to forget things that don't interest us or are no longer useful. The problem, however, is that in the process of forgetting, our brain often purges important information. I have been to many training sessions over my career and I know what I like and what I don't like. I also have a … Continue reading Training or Draining? Mitigating Disremember Risk!
The risks provided are not based on theory, but rather what I am seeing in practice. I also focused on those risks that might not be so obvious?