According to research completed by CEB including surveys of approximately 600,000 employees in more than 150 companies, corporate culture, not process failure, most often lies at the root of corporate catastrophes.
Our research confirms that improving corporate culture drives down employee misconduct and illegal acts, which together lead to improved corporate performance.
Read More
(Accounting Today, 9 May 2012) In Brief: Enterprises around the world lose about 5% of revenue to dishonesty every year, according to a recent Certified Fraud Examiners survey. The median amount was $140,000 and more than one-fifth reported losses of at least $1 million. The study also found that most of these cases surfaced when [...]
Read More(Business Finance Magazine, 8 May 2012) In Brief: Offering too much is a common mistake made by presenters reporting risk data to their boards, a consultant says in this interview. As the volume of available material increases, CFOs, risk officers, chief audit executives, and chief compliance officers must home in on the data that matters. [...]
Read More(Accounting Today, 7 May 2012) In Brief: A recent survey of 190 board directors found that reputational risk came second only to financial risk on their list of top concerns. Nearly 80% said they were turning more to Internal Audit for help in identifying vulnerabilities. Our View: Protecting reputation from potential threats has become more [...]
Read More(@Risk, 3 May 2012) In Brief: Continuous monitoring systems, which blend forensics with software, can help detect these high-risk behaviors at any firm and is especially important for industries like oil and gas which operate in countries where fraud and bribery are relatively commonplace, this writer says. The average payment in connection with settlements involving [...]
Read More(Forbes, 8 May 2012) In Brief: The scale and pace of regulatory change taking place in the financial services industry is unprecedented, and penalties for non-compliance are growing. Make regulatory activity “the primary consideration in determining strategic direction and long-term positioning of the bank,” advises the author. Our View: Legal departments across industries cite multiple [...]
Read More(The Harvard Law School Forum on Corporate Governance and Financial Regulation, 8 May 2012) In Brief: Of the 180 companies to report say-on-pay results so far, 65% were successful with 90% or more support, 25% passed with 70.1 to 90% support, 8% passed with between 50 and 70% support, and 2% got less than 50% [...]
Read More(Huffington Post, 8 May 2012) If your son or daughter is a fan of horror flicks, then Dominic Deville is the evil birthday clown for you. When he’s hired to entertain at children’s parties, he sends warning notes, calls and texts during the week leading up to the celebration, and on the big day, he [...]
Read More
