Critical Lessons from the Volkswagen Scandal | Corporate …
Sep 11, 2020 · There are lessons to be learned from VW’s errors. In 2015, the company confessed to cheating emissions tests on 11 million vehicles across the globe. “Dieselgate,” as the scandal was called, was a punch to VW’s reputation. The financial hit, significant. The company has paid a whopping $9.5 billion in the last four years to American car ...
The HR Function’s Compliance Role - Corporate Compliance Insights
Mar 13, 2019 · The human resources (HR) function is at the center of most employers’ efforts to identify, hire and retain the people the organization needs to execute its strategy and achieve its goals. But the HR function is a key player within the organization’s compliance structure as well. There are numerous laws and regulations governing the ...
Home CCI | Corporate Compliance Insights | Compliance, Ethics, …
Nov 6, 2024 · by Staff and Wire Reports. October 2, 2024. Nearly 33 million U.S.-based business entities are obligated to file beneficial ownership reports with FinCEN under the Corporate Transparency Act (CTA). But as of this summer, only a fraction — fewer than 10% — had filed, Treasury Secretary Janet Yellen said in July congressional testimony.
Creating an Effective Code of Conduct (and Code Program)
Jul 1, 2018 · This tone connects responsible conduct to the company’s and the employee’s success. Such a tone can inspire employees to appreciate the code’s role in the company’s success and ow the employee, by following it, can help make a profound difference. 7. Provides Clear Expectations of Compliance.
8 Crucial Compliance KPIs - Corporate Compliance Insights
Dec 19, 2023 · Compliance metrics, often intertwined with key performance indicators (KPIs) and key risk indicators (KRIs), are essential tools to gauge a company’s adherence to both internal protocols and external regulations. These metrics offer insights into the effectiveness of an organization’s compliance program, shedding light on areas of strength ...
4 COSO Risk Assessment Principles of the 2013 Framework
Mar 4, 2015 · There are four types of responses: acceptance, avoidance, reduction and sharing. Under the 1992 guidance, the focus was on transactional risk, i.e., risks in processes carried out at operational and functional levels. The 2013 Framework, with its emphasis on organizational objectives, puts a greater weight on entity-level risk.
Internal Control Checklist: 5 Anti-Fraud Strategies to Deter, …
Mar 10, 2010 · This condition is principally managed by designing and implementing a control environment that prevents, detects, and deters most fraudulent behavior, whether conducted by employees, vendors, consultants, or senior management. As part of such a control environment, there are five key anti-fraud controls that companies can implement, and it ...
What Would You Do? Ethical Dilemmas in the Workplace
Apr 5, 2017 · What do you do? The manufacturing cost of the widgets your company makes has dropped by 50%. One of your customers, Sam, tells you he knows this because he is best friends with your company’s VP of production and asks you for a discount on his order. Your boss okays the discount. Your other customer, Sue (who is one of your best friends and ...
Key Topics to Cover in Your Compliance Training – and How to …
Jul 12, 2021 · It’s the same at every job: An employee’s first day (or even week) is dedicated not to doing the work they were hired to do, but to learning how to do the work. Even if they have experience in the field, the new employee needs to be trained on the specific policies and procedures in place at the company.. While this type of training, known as “compliance training,” may seem tedious, it ...
Monitoring for Compliance - Corporate Compliance Insights
Jul 29, 2010 · Monitoring has become a basic expectation of ethics and compliance management. The U.S. Sentencing Guidelines include ‘monitoring and auditing’ among the principal components of a recommended compliance and ethics program. The Guidelines state: “The organization shall take reasonable steps…to ensure that the organization’s compliance ...