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.
Technical Staff Bank 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...
Technical StaffMay 22, 2021 We at The American Anti-Corruption Institute (AACI) follow the Internal control literature and guidelines issued by the Committee of Sponsoring Organizations of the Treadway Commission, known as COSO (COSO.org). In July 2020, COSO issued a guideline entitled “Blockchain and Internal Control: The COSO Perspective”. The guidelines...
Mike MasoudMay 22, 2021 On 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...
Mike MasoudApril 30, 2021 Last June, our staff published the following post about the Wirecard scandal. They stated, among other things, the following: Who Should Pay For It? Where were BaFin, Germany’s financial watchdog? Where were the Board of Directors of Wirecard?Where were EY, the independent auditor of Wirecard? Where were the...
Technical StaffApril 30, 2021 On April 14, 2021, Bernard L. Madoff died in prison, serving a 150-year sentence. During the 2008 financial crisis, it was revealed that he was in charge of the largest Ponzi scheme in American history. Below is a BBC report on Madoff’s death: Bernie Madoff: Disgraced financier dies in prisonBernie Madoff admitted he had conned investors out of billions of dollars in a Ponzi scheme.Read Morewww.bbc.com The following...
April 29, 2021 “On April 26, 2021, the UK announced a new global anti-corruption sanctions regime and has imposed sanctions on 22 people whom the UK Government has reasonable grounds to suspect have been involved in serious corruption. Under the new Global Anti-Corruption Sanctions Regulations 2021 (SI 2021/488), those designated...
April 10, 2021 The American Anti-Corruption Institute (AACI) is in Mexico City. Mr. L.Burke Files, President of The AACI, shall be addressing the audience about the most effective means to prevent, deter, and detect corruption. Zoom Meeting 12 April 2021 – 5pm (-6 GMT) Mexico City Zoom Link https://zoom.us/j/91093213153?pwd=WFdydTFwRUpTQlI1bXhwWVZiZXFNUT09 Meeting...
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