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.
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:
Evidence shows that when an individual believes that he is being watched, he makes sure that his behavior complies with what is expected of him. For example, it is more likely than not that students do not cheat on exams when they believe that they are being watched by humans or cameras. When deterrence is professionally designed and implemented adequately, its monetary and non-monetary savings are remarkable. But the effectiveness of deterrence depends on three components.
Preventing fraud and corruption is an evolving and complex challenge. It requires vigilant leadership and an effective board to ensure that policies are updated continuously, all employees are well trained, and internal control is effective. In addition, organizations should use proper and adequate technology to lower the risk of fraud and corruption. Organizations should have blockchain at the top of their agenda.
August 17, 2022Technical StaffThe following story (click here to read it in its entirety) is a typical example of how kickbacks work, and how they begin small and grow larger and larger. On August 15, 2022, The Sunday Morning Herald published a story titled “Businesswoman gave car, boat, and holidays...
August 14, 2022Mike J. MasoudIt is not uncommon to read about or hear misconceptions about accountability. For example, one should be careful to distinguish between accountability and responsibility. Many decision-makers and policy-makers have a clear understanding of what accountability is, while many others do not. Therefore, I discuss the accountability...
It is impossible to recognize something you do not know or have been trained to recognize correctly. However, the nature, amount, and scope of anti-corruption knowledge and abilities required by decision makers vary. For example, the CFO’s anti-corruption knowledge exceeds what a board member requires to fulfill his duty of care. Unfortunately, many decision-makers are unaware of two important corruption-related challenges. First and foremost,
