Hong Kongs SFC Fines Company $2.7 Million

Posted by Alexa Foxon Tue, May 31, 2016 @ 11:27 AM
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Tags: Internal Controls, best-practice, internal audit, Hong Kong, deficiencies, future trading, SFC, China, Fined, compliance, Compliance in China, accounting, securities and futures commission, short sales, internal controls failures

Who Does FIFA Answer to?

Posted by Alexa Foxon Mon, May 16, 2016 @ 03:07 PM

FIFA Headquarters - Zurich, Switzerland

The Fédération Internationale de Football Association, founded in 1904, as the governing body of association football, futsal and beach soccer for Belgium, Denmark, France, Germany, the Netherlands, Spain, Sweden and Switzerland. Today FIFA dominates the soccer and sport industry  with over 210 national associations worldwide.

FIFA's 2015 Corruption:

In May of 2015, 14 people were indicted in connection with an investigation by the United States FBI and the IRS Criminal Investigation Division into wire fraud, racketeering, and money laundering. The United States Attorney General simultaneously announced the unsealing of the indictments and the prior guilty pleas by 4 football executives and 2 corporations. Stepp Blatter led FIFA since 1998, but stepped down after the 2015 corruption was uncovered.  He was suspended from Football for 6 years after breaching ethics guidelines. The U.S got involved because of suspicion of bribes of about $150 million in 2010. After uncovering the wire fraud and money laundering, the U.S asked other countries to step in and investigate as well, but that is up to the individual country and government. 

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Tags: audit, Scala, irs, FIFA Reform, auditor, reform, compliance, fraud, money laundering, Corruption, wire fraud, fbi

We know COSO 2013 - Contact us for your assessment!

Posted by Teresa Bockwoldton Tue, Mar 03, 2015 @ 10:23 AM

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Tags: control reduction, compliance, COSO, COSO 2013

More prevention = Less need for Detection

Posted by Alex Roweon Wed, Feb 13, 2013 @ 03:45 PM
New technology is helping seek out fraudulent behavior behind closed doors of companies. Ernst & Young’s Fraud Investigation & Disputes Services is releasing new software that searches for specific key words in company e-mails and detects a change of voice in a spoken press release. The most common fraud phrases are obvious but interesting:
1. Cover Up
2. Write Off
3. Illegal
4. Failed investment
5. Nobody will find out
6. Grey area
7. They owe it to me
8. Do not volunteer information
9. Not ethical
10. Off the books 

Check out more at: http://tinyurl.com/az78o8g
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Tags: Internal Controls, fraud prevention, Press Release, software, compliance, internal control, internal control tips, fraud, Ernst & Young, key words

More FREE SAS 70 to SSAE Webinars Added!

Posted by Teresa Bockwoldton Mon, Mar 05, 2012 @ 08:52 AM

Join us for our SSAE 16 Webinar Series

Due to large demand, Vibato has access more dates for our complimentary webinar on how to review your vendors internal control by using their SSAE 16 document (formerly known as SAS 70).

* Title: SAS 70 to SSAE 16: How to Review your Vendors Internal Control Report 
* Presenter: Teresa Bockwoldt, Vibato Co-Founder
* Date: Starting on March 8, 2012 and continuing each week until April 12, 2012
* Time: 12:00PM - 1:00PM PST

* Cost: FREE

Vibato, LLC, a leading provider of internal control solutions, invites you to attend a group-internet-live based seminar. 

At this free event, our internal control experts will discuss and demonstrate ways to review the new SSAE 16 documents (previously called SAS 70) to ensure your company understands the usefulness of this document, how it can impact your organization, when to ask for one, and what to do with it once you have it. 

Who Should Attend? 
CFOs, Controllers, Internal Audit, Compliance Executives, Audit Committee Members, External Auditors, Audit Firm Staff Development Directors, are encouraged to attend. 

 

Attendees will receive our complimentary SSAE 16 Analysis Document as a thank you for attending. 

 

Time will be allocated for Q&A with the presenter at the end of the webinar.

 

Title:

SAS 70 to SSAE 16: How to Review your Vendors Internal Control Report

 

Register for a session now by clicking a date below:

Thu, Mar 8, 2012 12:00 PM - 1:00 PM PDT

Thu, Mar 15, 2012 12:00 PM - 1:00 PM PDT

 

Thu, Mar 22, 2012 12:00 PM - 1:00 PM PDT

 

Thu, Mar 29, 2012 12:00 PM - 1:00 PM PDT

 

Thu, Apr 5, 2012 12:00 PM - 1:00 PM PDT

 

Thu, Apr 12, 2012 12:00 PM - 1:00 PM PDT

Time:

12:00 PM - 1:00 PM PST

 

After registering you will receive a confirmation email containing information about joining the Webinar.

 

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server

 

Macintosh®-based attendees
Required: Mac OS® X 10.5 or newer

 

 

Space is limited.
Reserve your Webinar seat now!



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Tags: Internal Controls, Sarbanes-Oxley Articles & Information, Compliance tools, 404, 404 audit, SSAE 16, Sarbanes-Oxley Training, compliance, internal control, SAS 70, Internal Control Education, internal control tips

Free Webinar & 1 Hour CPE: Best-Practice Internal Controls

Posted by Teresa Bockwoldton Mon, Mar 05, 2012 @ 07:14 AM

Join us for a Free Webinar with 1 Hour CPE

 

 

 

 

 

Webinar Details

* Title: Integrated Approach to Best-Practice Internal Controls

* Presenter: Teresa Bockwoldt, Vibato Co-Founder

* Date: Starting on Wednesday, March 14, 2012 and recurring every Wednesday until April 11, 2012

* Time: 12:00 - 1:00PM PST

* Cost: FREE + 1 Hour CPE

Vibato, LLC, a leading provider of internal control solutions, invites you to attend a group-internet-live based seminar. 

At this free event, our internal control experts will discuss how a best-practice approach to internal controls can enable your organization to meet compliance and auditor requirements, as well as improve efficiency around your financial processes.

Who Should Attend?

CFOs, Controllers, Internal Audit, Compliance Executives, Audit Committee Members, External Auditors, and Audit Firm Staff Development Directors are encouraged to attend. 

EARN 1 HOUR of CPE CREDIT

Time will be allocated for Q&A with the presenter at the end of the webinar.

 

Register for a session now by clicking a date below:

 

 Wed, Mar 14, 2012 12:00 PM - 1:00 PM PDT

 

Wed, Mar 21, 2012 12:00 PM - 1:00 PM PDT

 

Wed, Mar 28, 2012 12:00 PM - 1:00 PM PDT

 

Wed, Apr 4, 2012 12:00 PM - 1:00 PM PDT

 

Wed, Apr 11, 2012 12:00 PM - 1:00 PM PDT

 
 

Once registered you will receive an email confirming your registration
with information you need to join the Webinar.

 

System Requirements
PC-based attendees
Required: Windows® 7, Vista, XP or 2003 Server

 

Macintosh®-based attendees
Required: Mac OS® X 10.5 or newer

Contact 1-888-4-VIBATO for further information or help with registering.

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Tags: Sarbanes-Oxley Articles & Information, Vibato Webinars, 404 audit, Product Information, compliance, internal control, Sarbanes-Oxley, Internal Control Education

Free Webinar: SSAE 16: How to Review your Vendors Internal Controls

Posted by Teresa Bockwoldton Sun, Mar 04, 2012 @ 08:04 PM

 

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Tags: Internal Controls, Sarbanes-Oxley Articles & Information, Compliance tools, 404, 404 audit, SSAE 16, Sarbanes-Oxley Training, compliance, internal control, SAS 70, Internal Control Education, internal control tips

August 3, 2011: Financial Risk Assessment Free Webinar

Posted by Teresa Bockwoldton Fri, Jun 24, 2011 @ 05:05 PM

 You are cordially invited to the Vibato Webinar Series, How to Perform a Financial Risk Assessment being held on Wednesday, August 3, 2011 10:00 AM - 11:00 AM PDT.  

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Tags: Sarbanes-Oxley Articles & Information, financial risk, Compliance tools, risk assessment, best-practice, SOX Compliance Made Simple, Sarbanes-Oxley Training, compliance, risk management, Sarbanes-Oxley, audit scope, Internal Control Education

How long do I Keep my Internal Controls Documentation?

Posted by Teresa Bockwoldton Sun, May 29, 2011 @ 07:32 AM

We are often asked how long company's must keep their internal controls documentation and when we tell them, we are often met with shocked stares but here is your answer:

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Tags: Internal Controls, financial risk, Controls Testing, personal risk, compliance

Internal Control Deficiency Measurement in 5 Steps

Posted by Teresa Bockwoldton Wed, Apr 13, 2011 @ 08:39 AM

An internal control deficiency can be caused by a number of issues but it is primarily defined as an error discovered during internal controls testing (e.g., a payment was coded to utilities when it should have been coded to inventory) or during a review of the internal control evidence (e.g., the internal or external auditors discover the coding mistake rather than management finding it as part of their closing activities).  An internal control deficiency may also occur simply from someone forgetting to execute one of their internal controls entirely.

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Tags: Internal Controls, Compliance tools, risk assessment, audit, SOX, 404 audit, best-practice, Controls Testing, 10k, Product Information, Sarbanes-Oxley Training, compliance, risk management, Sarbanes-Oxley, audit deficiency, Internal Control Deficiency