Internal Controls and the Changing Role of Directors and Officers

Posted by Nancy Johnsonon Mon, Jul 18, 2011 @ 09:57 AM

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.

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Tags: Internal Controls, Entity Level Controls

Internal Controls Lessons from Citigroup's Internal Fraud

Posted by Nancy Johnsonon Mon, Jul 11, 2011 @ 05:53 PM

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? 

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Tags: Internal Controls, fraud

SEC Final Rules Give More Reasons to Review Your Internal Controls

Posted by Nancy Johnsonon Fri, Jul 01, 2011 @ 05:40 PM

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

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Tags: Internal Controls, whistleblower policies, Entity Level Controls