The tragic human toll of internal control failures
Whitepaper
Bank of America’s Corporate Culture Crisis
What’s in this whitepaper from Tom Fox:
The recent scandal at Bank of America (BoA) regarding the excessive hours worked by junior employees has spotlighted a deeply rooted corporate culture crisis. As compliance professionals, it is our responsibility to scrutinize the failures in internal controls, the disconnect between senior management and middle management and the broader implications for corporate governance and employee well-being.
This paper by podcaster and author Tom Fox delves into the systemic issues that have allowed such a toxic culture to persist at BoA, despite previous promises of reform and examines the critical role of compliance in preventing similar crises within our own organizations.
As Fox says, the scandal “is a stark reminder of the human cost of a toxic work culture and the vital role that compliance professionals play in safeguarding both employees and organizations. The lessons from this tragedy should guide efforts to create healthier, more sustainable work environments.”
