WHY INTERNAL CONTROL OVER FINANCIAL REPORTING (ICFR) IS IMPORTANT
WHY (ICFR) INTERNAL CONTROL OVER FINANCIAL REPORTING IS IMPORTANT Recently Credit Suisse Group, still reeling from significant losses tied to the 2021 collapses of Archegos Capital Management and Greensill Capital, disclosed in its annual report its internal control over financial reporting (ICFR) was “not…
Compliance Lesson from a Baby Camel!
Compliance Lesson from a Baby Camel! By Anis Ahmed, Founder & CEO of Unitor Chairperson of Association of Certified Financial Crime Specialists’ (ACFCS) MENA Chapter. “Once upon a time there lived a camel with her baby. One day the baby camel and her mother were…
Preparing for the Next Crisis
As Ben Locwin reminded us “as Heraclitus of Ephesus waxed ~2,500 years ago, “Change is the only constant.””
Using Data in Compliance
Using Data in Compliance By Thomas Fox ,The Compliance Evangelist, Author The Department of Justice (DOJ) and Securities and Exchange Commission (SEC) have both made it clear that they expect companies to be more robust in their use of data analytics in compliance programs. This…
Governance, Risk & Compliance (GRC) – Big Time Confusion!
Governance, Risk & Compliance (GRC) – Big Time Confusion! By Arif Zaman , Head of Internal Audit, Emaar Industries & Investments, UAE “It is important to understand the evolutionary need for GRC in the corporate world before we form an opinion.” In the early 2000s many enterprises…
A Winter Billing Error and Compliance
A Winter Billing Error and Compliance By Thomas Fox ,The Compliance Evangelist, Author When will Technology replace Compliance Professionals? Never as all the evidence you need consider is a news item in which I was an active participant. The IT involved a $202,000+ billing notice…
Executives Acting in Bad Faith and the Role of the Board
“While the Company had a compliance program and a supporting control framework, they were not adequately implemented. Specifically, certain employees in some markets, some of whom were executives in those markets, acted in bad faith and knowingly failed to implement sufficient controls.”
5 Podcasts That Mattered in 2020
Tom Fox details five podcasts from 2020 that were the most significant for the compliance professional.
Compliance is Not the “Bogeyman”
Compliance is Not the “Bogeyman” By Theon Alleyne, CRCP, CCEP , USA Senior Managing Consultant,IBM A senior relationship manager at a US bank in Hong Kong, complained In an article: “Compliance is ruining my world”. My colleagues and I have heard similar statements in…
Top Five Enforcement Actions in 2020
What were some of the top FCPA enforcement actions in 2020?