The AACI Blog Page

26 Jul

Freedom and the Effective Fight of Corruption

Posted by Mike Masoud Africa, Governance, Human rights, Opinions, whistleblowing

Mike MasoudJuly 25, 2021 Corruption has clearly evolved into a worldwide issue that undermines the national security of many countries, including the United States of America, where it has been a domestic issue for decades. On June 3, 2021, the US President said ” corruption threatens United States national security, […]

24 Jul

Is the Audit Profession in Crisis?

Posted by Technical Staff Academia, Africa, Costs of Corruption, Ethics, Governance, Internal Control, The AACI's View

Technical StaffJuly 23, 2021 Due to the low audit quality of listed corporations, regulators and watchdogs in many developed nations are closely scrutinizing the public audit profession. For example, The Financial Reporting Council, the UK’s accounting regulator, said “audits performed by the big four accounting firms and smaller rivals failed […]

30 Jun

Wirecard Investigation Finds German Finance Minister and EY at Fault

Posted by Technical Staff Costs of Corruption, Ethics, Governance, Opinions, Principles of Fighting Corruption, whistleblowing

Technical StaffJune 30, 2021 After acknowledging that €1.9 billion ($2.3 billion) allegedly held in trust accounts didn’t exist, Wirecard filed for insolvency in June 2020. It was also discovered to be heavily in debt, and it was accused of falsifying financial accounts for years. As a result, the Bundestag (German […]

29 Jun

Does the World Need an International Anti-Corruption Court?

Posted by Mike Masoud Africa, Costs of Corruption, Ethics, Governance, Human rights, Opinions, Types of Fraud and Corruption

Mike J. MasoudJune 29, 2021 On July 22, 2014, I was shocked when I read an opinion in the Washington Post entitled “We need an international court to stamp out corruption,” written by Mark L. Wolf. He was a senior U.S. district judge for the District of Massachusetts. I shared my fears […]

23 Jun

Due to corruption, Mauritanian authorities have arrested former president Mohamed Ould Abdel Aziz.

Posted by Technical Staff Africa, Dubai, Governance, Human rights, Opinions, Principles of Fighting Corruption

Technical staffJune 23, 2021 Today, Reuters reported that the”Mauritanian authorities have arrested former president Mohamed Ould Abdel Aziz, one of his lawyers said on Wednesday, amid an ongoing investigation into alleged high-level corruption during his time in office.” You will find more details when you click on the news below. In most […]

19 Jun

Corruption: Stock Pump-and-Dump Scam

Posted by Technical Staff Academia, Ethics, Governance, Internal Control, Types of Fraud and Corruption

Technical Staff June 19, 2021 The perpetrators of this corruption scheme attempted to get control shares of shell companies in order to artificially inflate their share values and sell them to unsuspecting investors. ###

19 Jun

The U.S. President Establishes the Fight Against Corruption as a Core United States National Security Interest

Posted by Technical Staff Africa, Costs of Corruption, Governance, Human rights, Internal Control, Opinions, Principles of Fighting Corruption, The AACI's View, Types of Fraud and Corruption

Technical Staff June 19, 2021 On June 3, 2021, U.S. President Joseph R. Biden Jr. set the right tone at the top for combatting corruption. For the first time in U.S. history, he issued a memorandum that regarded the fight against corruption as a core national security interest 1. He […]