Internal Controls and the Changing Role of Directors and Officers

Posted by Nancy Johnsonon July 18, 2011

Two lawsuits -- one coming to a close in Australia, the other just beginning in Cincinnati, Ohio -- remind us that public company Directors and Officers (D&Os) are facing greater scrutiny and liability than ever before. They also reinforce how the presence or absence of a company's internal controls -- over financial reporting as well as compensation decisions -- can be used to protect or vilify D&Os in court.

Read More

Tags: Internal Controls, Entity Level Controls

Internal Controls Lessons from Citigroup's Internal Fraud

Posted by Nancy Johnsonon July 11, 2011

A recent case of internal fraud at Citgroup begs the question: Should we be criticizing Citi for not having the internal controls in place to prevent the fraud in the first place -- or applauding Citi for noticing the error and taking action on it? 

Read More

Tags: Internal Controls, fraud

SEC Final Rules Give More Reasons to Review Your Internal Controls

Posted by Nancy Johnsonon July 1, 2011

A little over a month ago, the SEC adopted its Final Rules regarding the Dodd-Frank whistleblower program. 

Read More

Tags: Internal Controls, whistleblower policies, Entity Level Controls