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.
Mike MasoudJanuary 15, 2023Prevalence of the rule of law is one of the Ten Principles of Fighting Corruption promulgated by The American Anti-Corruption Institute (AACI). The lack of the rule of law in communities and countries can manifest in various ways. Some of the most well-known manifestations include:Corruption: Corruption thrives...
December 20, 2022Mike J. MasoudIn today’s world, it is no secret that power and leadership often go hand in hand. However, with great power comes great responsibility, and unfortunately, this is not always upheld. Power can often lead to corruption, with leaders succumbing to the temptations and pitfalls that come...
The world celebrates each year International Anti-Corruption Day on December 9. This day is celebrated to remind people of the importance of fighting corruption and promoting transparency in government. Corruption hurts economic development, the rule of law, and social stability. However, the extent of corruption damages varies among countries. Looking back...
November 14, 2022Technical StaffCosts and Damages of Financial Statement Fraud 1A COSO study, which examined financial statement fraud allegations investigated by the U.S. Securities and Exchange Commission (SEC) over a ten-year period (1998-2007), found that news of an alleged fraud resulted in an average 16.7 percent abnormal stock price decline in...
November 14, 2022Though it may seem a simple question to many people, it may not. But it is so dangerous for citizens and officials not to have a reasonable and satisfactory understanding of what corruption is and what to do about it. Though it varies among countries, illiteracy about corruption...
October 29, 2022Technical StaffWhen corruption becomes the norm rather than the exception, the quality of life declines, and social values change. For example, the rule of law diminishes, bribery payment becomes usual and acceptable, nepotism becomes a pride source, and connections are the actual qualifications! People’s morale deteriorates, and the...
Setting the tone at the top of what is acceptable and not acceptable sets the boundaries of expected behavior and conduct. Those charged with governance and executive management are responsible for establishing proper and adequate policies that encourage honesty and reward integrity. For example, when a company establishes a well-written whistleblowing policy, it should encourage all stakeholders to report wrongdoing. However, organizational leadership should be vigilant and have effective communication with management, employees, and other stakeholders.
Together, Empowering Tone at the Top
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