Posts cover the costs of corruption of all kinds. Such costs include, but not limited to, those associated with and have negative impacts on the rule of law, public funds, and resources, education, healthcare, poverty, civil society, economic sustainability, foreign direct investment (FDI), interest rate, citizenship, and citizens trust in public institutions.
These posts also cover the negative consequences of corruption on the proper separation of powers (legislative, judicial, and executive), and tax collections.
Technical StaffJuly 30, 2021The Committee to Protect Journalists (CPJ) stated that ” Exposing those who abuse power for personal gain is a dangerous activity. Nearly 300 journalists killed for their work since CPJ started keeping records in 1992 covered corruption, either as their primary beat, or one of several.”CPJ published an important...
Technical StaffJuly 23, 2021Due 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 to...
Technical StaffJune 30, 2021After 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 Parliament) conducted...
Mike J. MasoudJune 29, 2021On 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 with...
Technical StaffJune 19, 2021On 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 said, ”...
Technical StaffBank Julius Baer Agrees to Pay More than $79 Million for Laundering Money in FIFA ScandalBank Julius Baer & Co. Ltd. (BJB or the Bank), a Swiss bank with international operations, has admitted today in federal court in Brooklyn that it conspired to launder over $36 million in bribes...
Mike MasoudMay 22, 2021On May 20, 2021, the Financial Times 1 reported that EY refused to provide the German MPs with 150 documents cited in the report of Martin Wambach, a partner at accounting firm Rödl & Partner who investigates EY’s unqualified audit reports of Wirecard for more than ten...
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