The best practice for dealing with fraud is to prevent it from ever happening. This is PHOrensically Speaking, where host Jonathan Marks will help you understand the forensic side of compliance so you can move from detection to prevention in your compliance program.
Corporate Governance, Part 213/08/2019 Duração: 24min
In this episode two of a two-part podcast series on Phorensically Speaking, Jonathan Marks looks at corporate governance approaches to consider when evolving your leadership and creating or enhancing your Board. Corporate governance encompasses systems and processes that support sound decision making and prevent or dissuade potentially self-interested persons from engaging in activities detrimental to the welfare of stakeholders. Learn about the key elements and here commentary about why corporate governance helps in deterring fraud.
Corporate Governance, Part 106/08/2019 Duração: 25min
In this episode of Phorensically Speaking, Jonathan Marks looks at corporate governance approaches to consider when evolving your leadership and creating or enhancing your Board. The health of our capital markets depends, as it always has, on individuals practicing in an ethical way...on us being able to trust the words and deeds of others... and especially, on the integrity of corporate financial information. Business Practices & Ethics drives the other components of the Governance Framework. It requires a continuous effort, reinforcement, and on-going training. Without it, you could and probably will fail because everyone believes they’re ethical, no matter what they’re doing. Corporate governance encompasses systems and processes that support sound decision making and prevent or dissuade potentially self-interested persons from engaging in activities detrimental to the welfare of stakeholders. Learn about the key elements and here commentary about why corporate governance helps in deterring fraud in this
Episode 8- Crisis Management30/07/2019 Duração: 10min
Some of the biggest mistakes made when handling a crisis are not dealing with the problem head on, thoughtless or insincere comments, lack of communication with stakeholders, unprepared spokespeople, getting defensive after receiving backlash, or, sitting back and letting the problem grow. Domino's, Sony, Samsung, BP, United Airlines, Equifax, KFC, are all good examples of companies who stumbled with crisis management. Organizations should study these crises and learn from the mistakes! In this podcast Jonathan Marks provides an overview of crisis management and its elements - prepare, respond, contain, recover, and remediate. He also discusses the board of directors role.
Tone and Conduct from the Top29/05/2019 Duração: 18min
In this episode, Jonathan Marks considers both tone and conduct from the top of an organization. The nature of a corporate culture can be the difference between a thriving and a beleaguered organization, and it all starts at the top! The control environment – that is, the overall attitude, awareness, and actions of directors and management regarding the internal control system and its importance to the organization – is the key to setting the tone of the organization because it influences the “control consciousness of its people.” Factors that contribute to the control environment include, but are not limited to – · Integrity and ethical values communicated by executive management in speaking and writing and demonstrated by action;· Responses to incentives and temptations – clear policies and actions that prohibit the acceptance of inappropriate gifts, for example;· Moral guidance, as communicated through a code of business conduct and ethics;· A commitment to competence, as demonstrated b
Setting the Right Tone from the Top25/03/2019 Duração: 16min
The board of directors, in concert with the CEO and others, set the tone and conduct for corporate behavior throughout the organization, and is the most important element for promoting honesty in a company. In this episode, we’re talking about tone and conduct from the top. Trends Corporate greed at the executive level has destroyed hundreds of companies. Many CEOs over the years have been sued over white collar crimes, and this sends a clear — though perhaps unintentional — message to their employees that committing fraud is acceptable, so long as it makes the company seem acceptable. That’s simply not the case, and is a prime example of setting the wrong tone and conduct from the top. At the same time, there are no regulatory rules or accounting standards that define exactly what the tone and conduct at the top should be. So we need to be mindful. When our companies are doing really well, we might slip into “Perfect Place Syndrome," and all the hard work and effort you put into building a company cultur
Freud and Fraud18/03/2019 Duração: 15min
On this episode, we’re putting Freud to fraud and getting inside the minds of crooks. Today’s white collar criminals have decades of technological evolution at their fingertips, creating new opportunities for fraudsters to inflict crippling loss to organizations. Which means it’s time to update and expand the elements of the traditional Fraud Triangle, to account for this new and vastly different world. The Fraud Pentagon Donald Cressey created the original concept of the Fraud Triangle way back in the 1950s to explain why someone might decide to commit fraud. The three original elements of the triangle are Pressure, Opportunity, and Rationalization, but we need to be gravitating more toward the advanced meta-model of fraud which also considers the act of concealment strategy and the conversion piece. This introduces two new elements to the Fraud Triangle, expanding it into the Fraud Pentagon: Arrogance, especially unchecked arrogance, enables individuals to see themselves as superior or entitled to the poin
Collusion and Conflict of Interest in Compliance05/03/2019 Duração: 15min
Corruption can take many forms, but its root causes often include a conflict of interest and possibly some type of collusion. In this episode, we’re illustrating these concepts and how they intertwine, and what you can do to proactively make sure your organization is secure. Where there is collusion, there may also be a conflict of interest While this type of fraud doesn’t necessarily involve a third party, it does involve the employee. In this case, they’re using their role as an employee, but acting outside their capacity to collude with another party for their personal benefit. Fraud generally involves an act of concealment, but frauds that include collusion usually occur off the books. There’s nothing to conceal as there is nothing on record. In this instance, the concealment is in not disclosing the potential conflicts of interest — which can present significant fraud risks. There are guidelines for this, like the ICC Guidelines on Conflicts of Interest in Enterprises, that recommend close monitoring