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 MasoudApril 11, 2023Corruption is a pervasive issue worldwide and can take on many forms. Its detrimental effects weaken democratic institutions and hinder economic growth and sustainability. Thus, establishing an ethical framework to prevent corruption is imperative. This post discusses how ethics plays a crucial role in curbing corruption.Primarily, ethics...
Technical StaffFebruary 15, 2023The audit profession in Arab countries can be traced back to the early twentieth century when the region’s first accounting and auditing firms were established. The audit profession has evolved and developed in response to changing business and societal needs.Initially, the auditors’ primary responsibility was to ensure...
Technical StaffJanuary 26, 2023An Unexplained Wealth Order (UWO) is a legal tool used in the United Kingdom to investigate and recover assets suspected of criminal proceeds. UWOs require an individual or a business to explain the source of assets disproportionate to their known lawful income. The assets may be seized if the...
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...
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