Erick O. Bell, a Senior Manager at Deloitte Financial Advisory Services LLP, presents a detailed internal control checklist that outlines 5 anti-fraud strategies companies can use to deter, prevent, and detect fraud.
Brian Klemm, Senior Counsel and Corporate Compliance Officer at SAS, discusses how many compliance professionals are increasingly focusing their attention on how they can prevent problems from occurring in their organizations, and how technology can play an important role in such prevention.
In yet another decision aimed at encouraging companies to focus on prevention and full disclosure in the face of investigations, the U.S. Sentencing Commission recently put forth a proposal that “would reduce fines and penalties even if company officers were involved in the criminal activity…if they meet standards for tackling white-collar crime at their companies.”
In the event you don’t already have a robust and meaningful set of compliance and ethics KPIs at your company, Jim Nortz offers a couple of things you might consider doing to remedy the situation:
Recently, Business Week published an adapted version of an executive summary of a policy brief released by the Committee for Economic Development. The brief was authored by Ben Heineman and offers six “essential tasks” that boards of directors and business leaders must undertake to restore faith in corporate governance.
The Environmental Protection Agency announced today that they are proposing stricter health standards for smog. The previous standards, enacted during the Bush Administration, reportedly run counter to scientific recommendations (at least according to some), this according to Dina Cappiello of the AP.
This interview between CCI founder Maurice Gilbert and Jeff Kaplan, a frequent CCI contributor and partner at Kaplan & Walker, looks at how compliance and ethics program assessments are designed, and what some methods are for making them as effective as possible.
Earlier today it was announced the Reza Saleh is being charged with insider trading by the SEC. The charges involve gains received by Saleh through insider trading in the wake of the recent Perot-Dell deal.
The European Union has proposed banking, securities and risk-monitoring agencies with sweeping powers to centralize financial regulation throughout the 27- nation region.
By Ken Marshall, Co-leader of Ernst & Young LLP’s IFRS Markets team in the United States.
If economics be the dismal science, then the global slump that began in 2007 makes it seem still more so. With America’s regulators preoccupied with managing the credit crisis and its companies facing the imperative to cut costs — including on projects that require a long-term commitment of resources, what once appeared almost certain momentum toward US adoption of International Financial Reporting Standards (IFRS) has slowed.
At the same time, there seems near universal agreement that a single global set of accounting policies and financial reporting standards would benefit investors. International standards setters and regulators, including the US Financial Accounting Standards Board (FASB), its counterpart the International Accounting Standards Board (IASB), and the US Securities & Exchange Commission (SEC) all share the view that comparability between US and other countries’ accounting standards will increase transparency in the global marketplace and protect investors.
