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Posts Tagged ‘control environment’

Other Lessons in Verwaltung Case


You may have seen news last week that a Swiss bank, LLB Verwaltung, paid $10.7 million to the Justice Department to settle charges of tax evasion. The deal is notable because the bank’s compliance officer had warned senior executives about the risks they were taking — warnings that senior bank executives chose to ignore. So…

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Bad Control Environments Ruin Everything


The compliance and audit worlds like to rely on lingo such as “control environment” and “control activities” all the time. The scandal of Corporate America’s payments to Michael Cohen, personal lawyer and fixer to President Trump, reminds us what those words really mean, and why a bad control environment can sour all the control activities you…

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And the Oscar for Control Failures Goes to…

Control failures

Internal control enthusiasts everywhere are performing a root cause analysis of what went wrong at the Oscars this weekend, so Radical Compliance might as well get a piece of that action too. After all, when was the last time a control failure was household news? The debacle, for those last few who haven’t yet heard…

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Of Contract Labor and Your Control Environment

The KPMG Audit Committee Institute recently published its annual survey of audit committee worries—and don’t die of shock, but maintaining high ethical rigor across the extended enterprise was a big concern. KPMG phrased the issue as “maintaining the control environment in the company’s extended organization.” It ranked third among audit committee worries, tied with cybersecurity and…

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