Compliance is a critical issue for every
organization…large or small.
It needs to be a major focus of today’s corporations and
requires constant vigilance. And each company must involve the entire
workforce…not just the employees and not just the leadership team.
A full-fledged corporate compliance training is a first step. Beyond that, here is what the Association of Certified Fraud Examiners
(ACFE) says about the primary causes of their focus of non-compliance—fraud.
Companies that suffer from misappropriation of funds,
corruption and financial statement misrepresentation do not have sufficient
internal controls or effective management review. Their existing controls are
often overridden and there is little emphasis on compliance at the top.
Finally, there are too few independent audits that could surface issues before external
regulators are forced to take over.
Protect your organization and figure out preventive measures.
Start at the top. Leaders should set the proper tone. Then tighten processes
that will bring problems to light early enough to solve them before they get
out of hand.
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