This document provides a summary of a two-part guide on creating an effective compliance-based employee incentive program. It discusses the benefits and risks of such programs, as well as steps companies should take before implementation. Benefits include pleasing regulators, encouraging internal reporting and demonstrating a compliant culture. However, risks include stifling business, mistaken rewards, and conflicting with foreign laws. Companies should shore up compliance programs, review current rewards, and ensure defective performance can be addressed before creating incentives. The second part will discuss evaluating managers and possible incentives.
In finance-public-perception-of-abc-compliance-efforts-noexpAjeet Singh
This document summarizes the key findings of a survey conducted by Deloitte Forensic (India) to understand public perception of anti-bribery and corruption compliance efforts in India. Some of the main findings include:
- While 88% of respondents would not feel comfortable working for a corrupt company, many are unaware of their own company's anti-corruption policies and training.
- 57% feel their senior management is not doing enough to address corruption risks. Clear communication from leadership is needed.
- A majority (71%) feel corruption can be eradicated if employees make it a personal responsibility and leaders lead by ethical example.
- However, challenges remain like unrealistic targets, limited communication, and a
FCPA Report_Guide to Creating an Effective Compliance-Based Employee Incentiv...Peter Viksnins
This document summarizes strategies for creating effective compliance-based employee incentive programs. It discusses using both positive and negative incentives to encourage compliant behavior. Positively, companies can tie executive compensation, bonuses, promotions and other employment decisions to compliance goals and metrics. They can also provide recognition awards. Negatively, companies can take disciplinary actions for non-compliance like reporting employees to law enforcement, terminating employment, imposing financial consequences or public shaming. The document advises carefully considering local laws when determining disciplinary policies.
This short document promotes the creation of Haiku Deck presentations on SlideShare by stating "Inspired?" and providing a button to "GET STARTED" making your own Haiku Deck presentation. It encourages the reader to try making presentations on the Haiku Deck platform hosted on SlideShare in a concise and engaging manner using just two words and a call to action.
The document is the Declaration of Independence, which declares the thirteen American colonies' independence from Great Britain. It states that all men are created equal and have unalienable rights to life, liberty, and the pursuit of happiness. It asserts that governments derive their just powers from the consent of the governed and that when a government harms these rights, it is the people's right to alter or abolish it. It then lists numerous grievances against King George III, including that he refused to pass laws for the public good and obstructed justice. It concludes that the colonies are free and independent states absolved from allegiance to the British crown.
Patience Akers has 15 students, 7 girls and 8 boys, who will create a PowerPoint presentation over the course of a week to accurately describe the main events of the Revolutionary War from 1754 to 1788, including the French and Indian War, acts passed by the British Parliament, key battles, the signing of the Declaration of Independence, the Treaty of Paris, and the official end of the war. Students will research events, create a timeline, review and edit their presentation before presenting to the class on Friday, using PowerPoint, YouTube, and Google Images.
The document summarizes water resources in the Tigris-Euphrates river basins located primarily in Iraq. It provides details on the tributaries and average flows of the Tigris and Euphrates rivers based on data from 1933-1958 and more recently. It notes that water deficits have increased in both rivers since 2005 due to population growth and new dams constructed in Turkey, Syria, and Iraq. Regulation of water flows in the Tigris and Euphrates basins within Iraq is an ongoing challenge.
This document outlines a lesson plan for teaching 15 students about the Revolutionary War using various social media and digital tools. It will introduce Twitter on Monday, use Facebook on Tuesday, have students create a wiki and blog on Wednesday, do a digital story and robot narration on Thursday, and finish with a podcast discussion on Friday. The goal is for students to learn about the key aspects of the Revolutionary War and complete assignments using these tools with 90% accuracy.
In finance-public-perception-of-abc-compliance-efforts-noexpAjeet Singh
This document summarizes the key findings of a survey conducted by Deloitte Forensic (India) to understand public perception of anti-bribery and corruption compliance efforts in India. Some of the main findings include:
- While 88% of respondents would not feel comfortable working for a corrupt company, many are unaware of their own company's anti-corruption policies and training.
- 57% feel their senior management is not doing enough to address corruption risks. Clear communication from leadership is needed.
- A majority (71%) feel corruption can be eradicated if employees make it a personal responsibility and leaders lead by ethical example.
- However, challenges remain like unrealistic targets, limited communication, and a
FCPA Report_Guide to Creating an Effective Compliance-Based Employee Incentiv...Peter Viksnins
This document summarizes strategies for creating effective compliance-based employee incentive programs. It discusses using both positive and negative incentives to encourage compliant behavior. Positively, companies can tie executive compensation, bonuses, promotions and other employment decisions to compliance goals and metrics. They can also provide recognition awards. Negatively, companies can take disciplinary actions for non-compliance like reporting employees to law enforcement, terminating employment, imposing financial consequences or public shaming. The document advises carefully considering local laws when determining disciplinary policies.
This short document promotes the creation of Haiku Deck presentations on SlideShare by stating "Inspired?" and providing a button to "GET STARTED" making your own Haiku Deck presentation. It encourages the reader to try making presentations on the Haiku Deck platform hosted on SlideShare in a concise and engaging manner using just two words and a call to action.
The document is the Declaration of Independence, which declares the thirteen American colonies' independence from Great Britain. It states that all men are created equal and have unalienable rights to life, liberty, and the pursuit of happiness. It asserts that governments derive their just powers from the consent of the governed and that when a government harms these rights, it is the people's right to alter or abolish it. It then lists numerous grievances against King George III, including that he refused to pass laws for the public good and obstructed justice. It concludes that the colonies are free and independent states absolved from allegiance to the British crown.
Patience Akers has 15 students, 7 girls and 8 boys, who will create a PowerPoint presentation over the course of a week to accurately describe the main events of the Revolutionary War from 1754 to 1788, including the French and Indian War, acts passed by the British Parliament, key battles, the signing of the Declaration of Independence, the Treaty of Paris, and the official end of the war. Students will research events, create a timeline, review and edit their presentation before presenting to the class on Friday, using PowerPoint, YouTube, and Google Images.
The document summarizes water resources in the Tigris-Euphrates river basins located primarily in Iraq. It provides details on the tributaries and average flows of the Tigris and Euphrates rivers based on data from 1933-1958 and more recently. It notes that water deficits have increased in both rivers since 2005 due to population growth and new dams constructed in Turkey, Syria, and Iraq. Regulation of water flows in the Tigris and Euphrates basins within Iraq is an ongoing challenge.
This document outlines a lesson plan for teaching 15 students about the Revolutionary War using various social media and digital tools. It will introduce Twitter on Monday, use Facebook on Tuesday, have students create a wiki and blog on Wednesday, do a digital story and robot narration on Thursday, and finish with a podcast discussion on Friday. The goal is for students to learn about the key aspects of the Revolutionary War and complete assignments using these tools with 90% accuracy.
This short document provides instructions for creating a Haiku Deck presentation on SlideShare and encourages the reader to get started making their own presentation. It includes stock photos to illustrate the topic and directs the reader to begin the process of getting started with Haiku Deck on SlideShare.
Sherif Mohamed Abdel Kader is an Egyptian national who has worked as an IMCA Air Diving Supervisor since 2010. He has over 15 years of experience in commercial diving and has worked on numerous offshore oil and gas projects in Egypt, Saudi Arabia, India, and other countries. Some of his responsibilities have included underwater pipeline maintenance and repair, installation of structures and pipelines, inspection of offshore facilities, and supervising diving teams. He holds professional certifications in commercial diving, diving supervision, and health and safety training.
Facebook Account Blocked From Sending Friend RequestsAbout online
This short document promotes the creation of Haiku Deck presentations on SlideShare by stating it provides inspiration and allows users to get started making their own presentations. It encourages the reader to create presentations on the Haiku Deck platform hosted on SlideShare.
The document discusses fire-rated rim board assemblies used in building construction. It explains that building codes require fire-resistant wall and floor/ceiling assemblies in certain buildings to slow the spread of fire. Rim boards and gypsum wallboards are often used to form fire barriers that prevent flames from escaping confined wall or ceiling assemblies. The document provides details on several rim board assembly designs that have achieved specific fire resistance ratings according to testing standards. It includes diagrams of the assembly configurations and specifications for the rim board thicknesses and types of gypsum wallboards required to achieve different fire resistance periods.
Globalization refers to the increasing interconnectedness between countries through trade, economic activity, and cultural exchange. It allows countries to rely on each other for resources and makes national economies dependent on global markets. Teaching students about globalization in the 21st century involves showing them how economic activity connects countries and using technology like digital storytelling, YouTube, Wikis, and discussion platforms to demonstrate these modern global connections in an engaging way. Wikis in particular could provide an evolving timeline to illustrate how globalization has changed over time as students contribute new information each year.
Assembleur, compilateur, interpréteur, ... Qu'est-ce qui se cache derrière ces termes? Bine sûr, la frontière est floue. Mais voici aux moins résumé graphiquement les grandes lignes de chacun de ces modèles d'exécution d'un programme informatique.
Sustainable Tomato Disease Management for the SE USJoe Kemble
This document discusses common tomato diseases found in the Southeast United States. It begins by defining plant diseases and the disease triangle. It then covers specific tomato diseases caused by viruses, bacteria, fungi and nematodes. These include tomato spotted wilt virus, bacterial spot, early blight, late blight, fusarium wilt and root-knot nematode. For each disease, the document describes symptoms, causal organism and management strategies such as resistant varieties, crop rotation and sanitation. It concludes with descriptions of abiotic disorders like nitrogen deficiency and blossom-end rot.
This document discusses best practices for assessing and improving the maturity of a compliance and ethics program. It outlines a framework using five key elements adapted from guidelines like the US Federal Sentencing Guidelines. These elements are risk identification, policies and procedures, training and communication, monitoring and auditing, and evaluation and improvement. The document advises using a maturity curve approach to evaluate where a program's elements fall along a spectrum from basic to best practices. Understanding the current status helps organizations prioritize steps to advance their program.
This document provides guidelines for establishing an effective compliance program for Medicare Advantage and New York Medicaid health plans. It discusses 8 key elements that should be included: written policies and procedures, designation of a compliance officer, training and education, communication lines, disciplinary policies, identification of risk areas, responding to issues, and a policy of non-retaliation. The guidelines describe how to implement each element, including developing a code of conduct, compliance policies, and procedures to address legal and ethical standards, prevent fraud and abuse, and promote a culture of compliance. Establishing a robust compliance program can help health plans comply with regulations and mitigate legal and reputational risks.
FCPA Self-Reporting Pilot Program: Motivation to Self-Report?Nicole Waid
The Department of Justice launched a one-year pilot program to promote transparency and accountability in enforcing the Foreign Corrupt Practices Act (FCPA). The program provides incentives for companies to self-report FCPA violations by offering up to a 50% reduction in penalties for full cooperation. It also considers not requiring a monitor or declining prosecution if a company demonstrates an effective compliance program. The goal is to motivate voluntary disclosures over waiting to get caught. However, the DOJ maintains flexibility in determining how much credit to provide. The program applies only to the DOJ's Fraud Section and expires after one year pending review.
FCPA Self-Reporting Pilot Program: Motivation to Self-Report?Brian Dickerson
The Department of Justice launched a one-year pilot program to promote transparency and accountability in enforcing the Foreign Corrupt Practices Act (FCPA). The program provides incentives for companies to self-report FCPA violations by offering up to a 50% reduction in penalties for full cooperation. It also considers not requiring a monitor or declining prosecution if a company demonstrates an effective compliance program. The goal is to motivate voluntary disclosures over waiting to get caught. However, the DOJ maintains flexibility in determining how much credit to provide. The program applies only to the DOJ's Fraud Section and expires after one year pending review.
AML and OFAC Compliance for the Insurance IndustryRachel Hamilton
This document contains best practice tips from several experts on anti-money laundering (AML) and sanctions compliance. Some of the key tips discussed include developing a standardized framework for assessing risks and controls across different business units; tailoring compliance training to specific roles and business areas; understanding business operations in depth to design effective screening processes; and clearly communicating compliance risks and implications to senior management.
A Guide to Strategic Corporate Giving in the Philippines.pdfWinterWoods1
Corporate giving, also known as corporate social responsibility or corporate citizenship, involves companies making strategic contributions and partnerships to address social needs and support communities. The document discusses the benefits of corporate giving for companies, including goodwill, reputation enhancement, and improved employee productivity. It also outlines the tax benefits for corporate donors in the Philippines, such as deductions and exemptions, when donations are made to qualified donee organizations like the government, educational institutions, or certified non-profit organizations.
RAISING THE BAR THROUGH COLLECTIVE ACTION Anti-Corruption Efforts in Action i...GlobalCompact
This document contains 9 case studies from Indian companies highlighting their anti-corruption efforts. The case studies are divided into 3 sections. The first section contains 3 cases focused on developing anti-corruption policies and processes. The second contains 1 case about implementing policies. The third section has 5 cases focused on implementing and operating anti-corruption practices. Overall, the case studies showcase how Indian companies in both public and private sectors are working to enhance compliance and transparency through specific anti-corruption actions and initiatives.
EFFECTS OF ETHICS ON FRAUD 1
EFFECTS OF ETHICS ON FRAUD 2
Ethical Analysis
Effects of ethical behaviors in an economy are far reaching to individuals, firms and the economy at large. Accountants play a vital role in ensuring the reliability and trustworthiness of accounting data and affect the moral culture of business and society. In order to achieve this, accountants are advised to observe the American Institute of Certified Public Accountants (AICPA), Professional Code of Conduct. Undoubtedly, private and public organizations employ professional accountants who are mandated to provide financial information regarding its business cycles. In some situations, an accountant may feel compelled or pressured to provide false financial information or alter financial results. In these cases, this creates a threat to the moral and ethical character of an accountant and is known as an ethical dilemma. Ethical dilemmas constitute a circumstance in which an individual faces a situation or a decision that test his/her moral system or ethical code. In these circumstances, an individual must choose whether to live out consistent moral attitudes or act contrary to what one personally believes or what has been established by ethical code. Ethical accounting codes require accountants to have a high level of integrity, to maintain confidentiality and behave according to a high degree of professional standards.
This dissertation will discuss how ethical accounting standards impact accounting fraud. Accounting fraud involves the intentional manipulation of financial information, which misleads shareholders, creditors, investors and the general public. These actions are premeditated attempts to deceive and attract investors by intentionally altering financial statements. Often, this is accomplished by overstating revenue and assets and under reporting expenses and liabilities. The perpetrators of accounting fraud are employees, managers, accountants and top executives. Thus, to reduce business fraud, ethical codes have been instituted within corporations, industries and state and national accounting boards. For certified public accountants, the AICPA Code of Professional Conduct has been adopted to tackle the ethics of accounting.
Professional Conduct Diminishes Fraud
An accountant’s professional conduct is a key quality used to minimize fraud. As mentioned, state accountancy boards and the AICPA are mandated to formulate and enforce professional standards for all accounting members who are responsible for providing financial services. The AICPA Code of Professional Conduct was recodified in June 2014, and became fully effective in December 2015. This code of conduct requires all accountants to act with integrity, due care, objectivity, competency and ensure confidentiality for their client. In ad.
Anti-Bribery and Corruption Compliance for Third PartiesDun & Bradstreet
In this white paper, Kelvin Dickenson, Managing Director of D&B Global Compliance Solutions, discusses thoughtful approaches to buidling a scalable, effective and proportionate anti-corruption program for third-party due dilligence.
This document provides an overview and summary of an MTS Health Services compliance and ethics training program from July 2017. It discusses the importance of compliance programs in preventing unlawful conduct and the evolution of such programs to also promote ethical culture and behavior. Key points covered include objectives of compliance programs, incentives under the Federal Sentencing Guidelines for organizations to implement effective programs, and major players in enforcement of healthcare laws and regulations.
This short document provides instructions for creating a Haiku Deck presentation on SlideShare and encourages the reader to get started making their own presentation. It includes stock photos to illustrate the topic and directs the reader to begin the process of getting started with Haiku Deck on SlideShare.
Sherif Mohamed Abdel Kader is an Egyptian national who has worked as an IMCA Air Diving Supervisor since 2010. He has over 15 years of experience in commercial diving and has worked on numerous offshore oil and gas projects in Egypt, Saudi Arabia, India, and other countries. Some of his responsibilities have included underwater pipeline maintenance and repair, installation of structures and pipelines, inspection of offshore facilities, and supervising diving teams. He holds professional certifications in commercial diving, diving supervision, and health and safety training.
Facebook Account Blocked From Sending Friend RequestsAbout online
This short document promotes the creation of Haiku Deck presentations on SlideShare by stating it provides inspiration and allows users to get started making their own presentations. It encourages the reader to create presentations on the Haiku Deck platform hosted on SlideShare.
The document discusses fire-rated rim board assemblies used in building construction. It explains that building codes require fire-resistant wall and floor/ceiling assemblies in certain buildings to slow the spread of fire. Rim boards and gypsum wallboards are often used to form fire barriers that prevent flames from escaping confined wall or ceiling assemblies. The document provides details on several rim board assembly designs that have achieved specific fire resistance ratings according to testing standards. It includes diagrams of the assembly configurations and specifications for the rim board thicknesses and types of gypsum wallboards required to achieve different fire resistance periods.
Globalization refers to the increasing interconnectedness between countries through trade, economic activity, and cultural exchange. It allows countries to rely on each other for resources and makes national economies dependent on global markets. Teaching students about globalization in the 21st century involves showing them how economic activity connects countries and using technology like digital storytelling, YouTube, Wikis, and discussion platforms to demonstrate these modern global connections in an engaging way. Wikis in particular could provide an evolving timeline to illustrate how globalization has changed over time as students contribute new information each year.
Assembleur, compilateur, interpréteur, ... Qu'est-ce qui se cache derrière ces termes? Bine sûr, la frontière est floue. Mais voici aux moins résumé graphiquement les grandes lignes de chacun de ces modèles d'exécution d'un programme informatique.
Sustainable Tomato Disease Management for the SE USJoe Kemble
This document discusses common tomato diseases found in the Southeast United States. It begins by defining plant diseases and the disease triangle. It then covers specific tomato diseases caused by viruses, bacteria, fungi and nematodes. These include tomato spotted wilt virus, bacterial spot, early blight, late blight, fusarium wilt and root-knot nematode. For each disease, the document describes symptoms, causal organism and management strategies such as resistant varieties, crop rotation and sanitation. It concludes with descriptions of abiotic disorders like nitrogen deficiency and blossom-end rot.
This document discusses best practices for assessing and improving the maturity of a compliance and ethics program. It outlines a framework using five key elements adapted from guidelines like the US Federal Sentencing Guidelines. These elements are risk identification, policies and procedures, training and communication, monitoring and auditing, and evaluation and improvement. The document advises using a maturity curve approach to evaluate where a program's elements fall along a spectrum from basic to best practices. Understanding the current status helps organizations prioritize steps to advance their program.
This document provides guidelines for establishing an effective compliance program for Medicare Advantage and New York Medicaid health plans. It discusses 8 key elements that should be included: written policies and procedures, designation of a compliance officer, training and education, communication lines, disciplinary policies, identification of risk areas, responding to issues, and a policy of non-retaliation. The guidelines describe how to implement each element, including developing a code of conduct, compliance policies, and procedures to address legal and ethical standards, prevent fraud and abuse, and promote a culture of compliance. Establishing a robust compliance program can help health plans comply with regulations and mitigate legal and reputational risks.
FCPA Self-Reporting Pilot Program: Motivation to Self-Report?Nicole Waid
The Department of Justice launched a one-year pilot program to promote transparency and accountability in enforcing the Foreign Corrupt Practices Act (FCPA). The program provides incentives for companies to self-report FCPA violations by offering up to a 50% reduction in penalties for full cooperation. It also considers not requiring a monitor or declining prosecution if a company demonstrates an effective compliance program. The goal is to motivate voluntary disclosures over waiting to get caught. However, the DOJ maintains flexibility in determining how much credit to provide. The program applies only to the DOJ's Fraud Section and expires after one year pending review.
FCPA Self-Reporting Pilot Program: Motivation to Self-Report?Brian Dickerson
The Department of Justice launched a one-year pilot program to promote transparency and accountability in enforcing the Foreign Corrupt Practices Act (FCPA). The program provides incentives for companies to self-report FCPA violations by offering up to a 50% reduction in penalties for full cooperation. It also considers not requiring a monitor or declining prosecution if a company demonstrates an effective compliance program. The goal is to motivate voluntary disclosures over waiting to get caught. However, the DOJ maintains flexibility in determining how much credit to provide. The program applies only to the DOJ's Fraud Section and expires after one year pending review.
AML and OFAC Compliance for the Insurance IndustryRachel Hamilton
This document contains best practice tips from several experts on anti-money laundering (AML) and sanctions compliance. Some of the key tips discussed include developing a standardized framework for assessing risks and controls across different business units; tailoring compliance training to specific roles and business areas; understanding business operations in depth to design effective screening processes; and clearly communicating compliance risks and implications to senior management.
A Guide to Strategic Corporate Giving in the Philippines.pdfWinterWoods1
Corporate giving, also known as corporate social responsibility or corporate citizenship, involves companies making strategic contributions and partnerships to address social needs and support communities. The document discusses the benefits of corporate giving for companies, including goodwill, reputation enhancement, and improved employee productivity. It also outlines the tax benefits for corporate donors in the Philippines, such as deductions and exemptions, when donations are made to qualified donee organizations like the government, educational institutions, or certified non-profit organizations.
RAISING THE BAR THROUGH COLLECTIVE ACTION Anti-Corruption Efforts in Action i...GlobalCompact
This document contains 9 case studies from Indian companies highlighting their anti-corruption efforts. The case studies are divided into 3 sections. The first section contains 3 cases focused on developing anti-corruption policies and processes. The second contains 1 case about implementing policies. The third section has 5 cases focused on implementing and operating anti-corruption practices. Overall, the case studies showcase how Indian companies in both public and private sectors are working to enhance compliance and transparency through specific anti-corruption actions and initiatives.
EFFECTS OF ETHICS ON FRAUD 1
EFFECTS OF ETHICS ON FRAUD 2
Ethical Analysis
Effects of ethical behaviors in an economy are far reaching to individuals, firms and the economy at large. Accountants play a vital role in ensuring the reliability and trustworthiness of accounting data and affect the moral culture of business and society. In order to achieve this, accountants are advised to observe the American Institute of Certified Public Accountants (AICPA), Professional Code of Conduct. Undoubtedly, private and public organizations employ professional accountants who are mandated to provide financial information regarding its business cycles. In some situations, an accountant may feel compelled or pressured to provide false financial information or alter financial results. In these cases, this creates a threat to the moral and ethical character of an accountant and is known as an ethical dilemma. Ethical dilemmas constitute a circumstance in which an individual faces a situation or a decision that test his/her moral system or ethical code. In these circumstances, an individual must choose whether to live out consistent moral attitudes or act contrary to what one personally believes or what has been established by ethical code. Ethical accounting codes require accountants to have a high level of integrity, to maintain confidentiality and behave according to a high degree of professional standards.
This dissertation will discuss how ethical accounting standards impact accounting fraud. Accounting fraud involves the intentional manipulation of financial information, which misleads shareholders, creditors, investors and the general public. These actions are premeditated attempts to deceive and attract investors by intentionally altering financial statements. Often, this is accomplished by overstating revenue and assets and under reporting expenses and liabilities. The perpetrators of accounting fraud are employees, managers, accountants and top executives. Thus, to reduce business fraud, ethical codes have been instituted within corporations, industries and state and national accounting boards. For certified public accountants, the AICPA Code of Professional Conduct has been adopted to tackle the ethics of accounting.
Professional Conduct Diminishes Fraud
An accountant’s professional conduct is a key quality used to minimize fraud. As mentioned, state accountancy boards and the AICPA are mandated to formulate and enforce professional standards for all accounting members who are responsible for providing financial services. The AICPA Code of Professional Conduct was recodified in June 2014, and became fully effective in December 2015. This code of conduct requires all accountants to act with integrity, due care, objectivity, competency and ensure confidentiality for their client. In ad.
Anti-Bribery and Corruption Compliance for Third PartiesDun & Bradstreet
In this white paper, Kelvin Dickenson, Managing Director of D&B Global Compliance Solutions, discusses thoughtful approaches to buidling a scalable, effective and proportionate anti-corruption program for third-party due dilligence.
This document provides an overview and summary of an MTS Health Services compliance and ethics training program from July 2017. It discusses the importance of compliance programs in preventing unlawful conduct and the evolution of such programs to also promote ethical culture and behavior. Key points covered include objectives of compliance programs, incentives under the Federal Sentencing Guidelines for organizations to implement effective programs, and major players in enforcement of healthcare laws and regulations.
Pam Hunt, the Employee Benefits Manager, wrote a report analyzing the potential benefits of implementing a tuition reimbursement program at Wright Medical Center (WMC). She found that such a program could help WMC attract and retain talented employees, improve productivity and efficiency, and build leaders. It would demonstrate that WMC values education and wants to help employees advance. While an initial cost, there are tax incentives for companies that offer tuition reimbursement. Pam recommends WMC set clear guidelines for eligibility, reimbursement amounts based on grades, and require employees to remain at WMC for two years upon completing their degree. The program could create future leaders while strengthening WMC's competitive position.
Ideas, insights and inspiration on the topic of how to engage members of the private and public sectors in anti-corruption Collective Action. The ideas arise from the 2020 Integrity Partners Workshop Series, hosted by the Basel Institute on Governance in August 2020 with the support of the Siemens Integrity Initiative.
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Learning Outcomes
After reading this chapter, you should be able to do the following:
Explain how an organization can structure and manage an ethics program.
Develop a code of conduct that articulates standards to company stakeholders.
Create an ethics training and communications plan.
Evaluate mechanisms for obtaining advice on ethical issues and reporting ethical misconduct.
Design an effective monitoring and auditing system.
9 Implementing an Ethics Program
Bloomberg/Getty Images
10/8/2018 Print
https://content.ashford.edu/print/AUOMM640.15.1?sections=ch09,ch09introduction,ch09sec9.1,ch09sec9.2,ch09sec9.3,ch09sec9.4,ch09sec9.5,ch0… 2/39
Introduction
Ethics Program Pays Off for Morgan Stanley
On April 25, 2012, Garth Peterson, former managing director for Morgan Stanley’s real estate business in China,
pleaded guilty to violating the Foreign Corrupt Practices Act (FCPA) and for conspiring to evade Morgan
Stanley’s internal controls for meeting securities laws for investment advisers (United States Department of
Justice, 2012). From 2004 to 2007, Peterson cultivated a relationship with a Chinese of�icial to obtain business
approvals. In 2008, executives at Morgan Stanley discovered the violations, reported them to the U.S. Securities
and Exchange Commission (SEC), and �ired Peterson (Lucchetti & Kendall, 2012). Department of Justice of�icials
declined to bring any enforcement action against Morgan Stanley because of its documented ethics and
compliance program, stating:
According to court documents, Morgan Stanley maintained a system of internal controls meant to
ensure accountability for its assets and to prevent employees from offering, promising or paying
anything of value to foreign government of�icials. Morgan Stanley’s internal policies, which were
updated regularly to re�lect regulatory developments and speci�ic risks, prohibited bribery and
addressed corruption risks associated with the giving of gifts, business entertainment, travel, lodging,
meals, charitable contributions and employment. Morgan Stanley frequently trained its employees on
its internal policies, the FCPA and other anti-corruption laws. Between 2002 and 2008, Morgan Stanley
trained various groups of Asia-based personnel on anti-corruption policies 54 times. During the same
period, Morgan Stanley trained Peterson on the FCPA seven times and reminded him to comply with
the FCPA at least 35 times. Morgan Stanley’s compliance personnel regularly monitored transactions,
randomly audited particular employees, transactions and business units, and tested to identify illicit
payments. Moreover, Morgan Stanley conducted extensive due diligence on all new business partners
and imposed stringent controls on payments m.
The document discusses the importance of implementing an effective global payroll control framework based on the COSO internal control framework. It explains that a control framework is needed to ensure payroll compliance with regulations, manage risks, and provide assurance to stakeholders. The global payroll control framework should define objectives, control components, operating models, and standard procedures. It also discusses trends like increased regulation and globalization that require organizations to have strong internal controls over payroll.
Operating Activities Please respond to the followingFrom the e.docxMARRY7
Operating Activities"
Please respond to the following:
From the e-Activity, evaluate the logic of reflecting key person life insurance in the operating activities of the cash flow statement and determine if this presentation is misleading to users of the financial statements.
Currently, Financial Accounting Standards Board (FASB) has not provided guidance on the appropriate section for reflecting key person life insurance. As a member of FASB, determine the guidance you would provide for key person insurance in the cash flow statement. Provide your rationale.
"Free Cash Flow"
Please respond to the following:
Analyze the impact of erroneous classifications in the operating activities section of the cash flow statement on free cash flow and how this distortion can impact the decisions made by financial statement users.
Assess the importance of free cash flow in a growth company. Provide a brief scenario of a specific type of business that would benefit from free cash flow.
Key-Person Insurance: a Cash-Flow Puzzle
With many companies sitting atop piles of cash and looking for productive ways to use it, buying life-insurance policies on key executives is an increasingly popular tactic.
Although that can be financially effective, it requires companies to make a critical accounting decision for which there is no clear guidance. What they decide can affect operating and free-cash flow and, therefore, influence investor behavior.
Premiums paid on company-owned life insurance policies typically generate a net yield of 0% to 4%, according to Scott Bresnick, an independent sales representative for life insurance products. In other words, for each premium-dollar paid, the cash surrender value of the policy grows by $1 to $1.04. Also, the policies can provide tax-deferred growth and tax-free death benefits, and while in many cases their value is tied in part to stock indices, they often stipulate that for the first few years the policy value can’t decline below the amount of premiums paid.
That means such policies can outperform the paltry returns that companies are currently getting on their cash, especially given that some banks now charge deposit fees that may outweigh the interest on an account’s principal.
As for the accounting issues, some companies record the premiums on their cash-flow statements as a use of cash for operating activities. The most likely rationale for that approach, suggests Charles Mulford, an accounting professor at Georgia Tech University and director of the Georgia Tech Financial Analysis Lab, is that since the companies expense the premium payments (net of any increase in the cash surrender value of the policies) on their income statements, they should also record the use of cash in the operating-activities section of their cash-flow statements.
But that’s faulty thinking, Mulford says. First, while U.S. generally accepted accounting principles say nothing about how to treat corporate-owned life insurance premiums on ca.
This document summarizes insights from a workshop on measuring the impact of collective action initiatives. It discusses challenges in quantifying impact and different approaches initiatives have used, including:
1. Gathering data like reports of corrupt demands to demonstrate tangible results of initiatives.
2. Selecting useful metrics like membership growth and market share.
3. Capturing real stories and testimonials to complement quantitative data.
4. Being transparent about limitations of data and challenges faced by initiatives.
Week 5 Discussion Responses – Financial Accounting
Discussion Response 1
BY: E,S
The CFO has more oversight and needs to make sure areas of ethics, integrity are not questioned “He or she is the last line defense in terms of the moral compass of the company and the accuracy of the financial statements” (John Draut, 2017). These are tried and true and keep lawlessness away! With that said there are laws that allow some room to move numbers such as depreciation, and the GAAP allows equipment to be one of those areas. In my company we use this method both on a District and Regional level but with rules of engagement. To me accounting calls for more ethics and integrity and honesty than most fields. Most fields have honest people but in the Business world the CFO in my eyes is a very important and upstanding person. I believe many organizations have CFO as their CEO because of the skill set and complexities that exist today.
“Depreciation begins when a taxpayer places property in service for use in a trade or business or for the production of income. The property ceases to be depreciable when the taxpayer has fully recovered the property’s cost or other basis or when the taxpayer retires it from service, whichever happens first” (IRS Gov).
“Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration, or obsolescence of the property” (IRS Gov.). So in reference to changing asset life does occur occasionally, the question is if it has always been five years and the CFO wants seven years for bonus reasons I do not feel this is appropriate and feel it takes a clear cut situation to a grey area I would not feel comfortable with. Would the IRS look the other way? Could be so for legal reason you may get by, then again there are rules for equipment and if you went from seven years to five you would have to explain the reasoning and tie it to the industry potentially.. What would I do? I would find other areas to generate the $750K they are looking for. The grey area doesn’t make me comfortable and there has to be other areas to generate revenue to gain the bonuses such as safety, turnover, overtime, double shifting, hiring etc. Not knowing the company or the business there generally are cost cutting initiatives that can help offset cost.
Side note: Last two weeks we have discussed Fraud and Ethics----Have you heard about the FBI investigation of NCAA Basketball programs tied to shoe manufactures? Do you think anyone in the accounting departments knew about the large sums being paid out? College sports are big business, and the corruption continues to amaze me.
References:
John Draut
https://www.irs.gov/.../a-brief-overview-of-depreciation
Discussion Response 2
BY: B,R
Ethics is typically not a black and white decision, it often lies in the gray area in between. In general, making an ethical decisi.
Many of your employees may not feel well but they aren't physically ill. Instead, what they lack is "financial wellness," a hot topic in many companies these days. In a nutshell, they're worried about making ends meet today as well as in the future, and that can take a toll on their productivity. Should you try to do anything about it? And, if so, what?