Relevant internal control posts. They cover best practices, principles, publications, news, stories, and significant updates. The AACI adopts the COSO’s internal control definition, implementation guidelines, and literature.
November 29, 2022Technical Staff FTX is a cryptocurrency exchange that allows users to buy and sell crypto assets. Cryptocurrencies all share the same basic structure as their star asset, bitcoin: a publicly accessible “blockchain” that records ownership without controlling central authority. FTX is significant because it, along with its competitor...
November 14, 2022Technical Staff Costs and Damages of Financial Statement Fraud 1 A 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...
October 31, 2022 Whistleblowing is a complex institution with several implications, benefits, and risks. An organization should have a whistleblowing policy that responds to the applicable whistleblowing regulatory framework. The board of directors and those charged with governance are also responsible and accountable for not responding to the challenges of...
October 24, 2022Technical Staff An examination of inspection data finds that US regulators were twice as likely to discover flaws in audits completed by KPMG’s overseas affiliates as those performed by any other Big Four accounting firm. KPMG flunks US overseas audit inspections twice as often as rivalsRegulator finds deficiencies...
October 16, 2022Mike J. Masoud On June 16, 2022, I wrote an article titled “Conflict of Interests: Prevention is better than cure.” and published it on The AACI’s official blog. I stated in the said article the following: When a person runs for public office, he must give up his...
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.
Engaging Students in Fighting Corruption
Regardless of the existence of corruption, students should understand the basics and characteristics of corruption. They should learn about corruption schemes and their damages. They should also learn how to deter and prevent corruption.
Benefits of Engaging Students
An effective student engagement strategy should achieve the following goals:
Together, Empowering Tone at the Top
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