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.
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...
February 28, 2021 Fighting corruption in Lebanon is different from any other country in the Middle East and Africa due to the complex political structure and the high levels of corruption. Though the economy has been deteriorating over the past several years, Gina Chammas continued leading the fight against corruption...
February 27, 2021Technical Staff The American Anti-Corruption Institute (AACI) defines corruption as “Abuse of power or perceived power or entrusted authority for direct or indirect private monetary or nonmonetary gain.” [1] This definition applies to all economic sectors and entities. It applies to private and public sectors and also applies...
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