Good day all,
Please find attached the September 2017 edition of our very informative Newsletter. Apologies for the tardiness.
We look forward to your continuing support and comments. Please send all comments and suggestions to training@kawmanagement.com or training.kawmgmt@candw.ag.
Happy reading.
Fundamental controlling tool of fraud prevention and detection designed for company owners and top management. Protect at work and in business those honest against those unfair.
www.forensicline.eu
Corruption is an ancient problem that has always been with us. It has had variegated incidence in different times at different places, with varying degrees of damaging consequences. In common usage corruption is used to mean different things in different context. Sometimes people invoke legality and almost interchangeably use the word corrupt and illicit in describing a transaction. But clearly not all illegal transaction are corrupt nor all instances of corruption or bribery are illegal. Similarly one should keep a distinction between immoral and corrupt transactions. Having different meanings of corruption, this paper mostly confine to the use of public office for private gain or the agency problem.
Findings from India Fraud Survey 2012: Fraud and Corporate Governance - Chang...EY
A report based on a survey conducted to understand the fraud scenario in India. This study aims to understand how businesses have coped with increasing fraud and corruption risk last year, what the emerging fraud risks in the industry are and the measures taken by various organizations to mitigate these risks.
For further information on EY's fraud investigation and dispute services, please visit: http://www.ey.com/IN/en/Services/Assurance/Fraud-Investigation---Dispute-Services
Fundamental controlling tool of fraud prevention and detection designed for company owners and top management. Protect at work and in business those honest against those unfair.
www.forensicline.eu
Corruption is an ancient problem that has always been with us. It has had variegated incidence in different times at different places, with varying degrees of damaging consequences. In common usage corruption is used to mean different things in different context. Sometimes people invoke legality and almost interchangeably use the word corrupt and illicit in describing a transaction. But clearly not all illegal transaction are corrupt nor all instances of corruption or bribery are illegal. Similarly one should keep a distinction between immoral and corrupt transactions. Having different meanings of corruption, this paper mostly confine to the use of public office for private gain or the agency problem.
Findings from India Fraud Survey 2012: Fraud and Corporate Governance - Chang...EY
A report based on a survey conducted to understand the fraud scenario in India. This study aims to understand how businesses have coped with increasing fraud and corruption risk last year, what the emerging fraud risks in the industry are and the measures taken by various organizations to mitigate these risks.
For further information on EY's fraud investigation and dispute services, please visit: http://www.ey.com/IN/en/Services/Assurance/Fraud-Investigation---Dispute-Services
Российский обзор экономических преступлений за 2016 годPwC Russia
В этом году в центре внимания нашего исследования находятся три вопроса: программы по соблюдению правил деловой этики и нормативно-правовых требований; противодействие легализации (отмыванию) доходов, полученных преступным путем; и киберпреступления. Помимо конкретных аспектов экономических преступлений, на которых следует сосредоточить особое внимание, в обзоре подчеркивается важность реализации более комплексных и эффективных мер, которые позволяют минимизировать указанные риски.
Первый выпуск PwC Индекса противодействия коррупцииPwC Russia
PwC публикует свой первый выпуск Индекса противодействия коррупции (далее – «ABCI», anti-bribery and corruption index), измеряющего уровень соответствия российских компаний требованиям антикоррупционного законодательства.
Соблюдение требований антикоррупционного законодательства приобретает все большее значение в России и за рубежом. Результаты проведенного PwC исследования показывают, в какой степени предпринятые крупнейшими российскими компаниями действия отвечают этим требованиям. Для целей данного исследования было выполнено сравнение общедоступной информации по российским компаниям, относящейся к сфере соблюдения антикоррупционного законодательства, с передовой практикой в данной области.
Всемирный обзор экономических преступлений за 2016 годPwC Russia
В рамках подготовки Всемирного обзора экономических преступлений PwC за 2016 год было опрошено более 6 000 участников из 115 стран. Несмотря на незначительное общее снижение количества зарегистрированных экономических преступлений, финансовая стоимость каждого отдельного мошеннического действия увеличивается. Четырнадцать процентов респондентов столкнулись с убытками на сумму более 1 млн долл. США за последние два года.
In this Economic Crisis going on today we have seen an alarming record levels of employee fraud, information and property theft, easy access to fake credentials, and conflicts and violence in the workplace. Accordingly, Kevin Connell has organized a “Complimentary Webinar” for HR Managers, Business Owners and CEO’s of companies across North America. In the webinar this Friday August 20th, the webinar will address the issues of employment background checks, employee fraud, resume fraud, and diploma mills.
Most companies have ethics and compliance policies in place and those policies usually include training for employees. That training typically includes material about policies prohibiting discrimination and harassment, bribery and excessive gift-giving. But it usually does not teach employees how to recognize signs of fraud and how to report them.
Employee fraud awareness training is one of the most important ways your company can protect itself from fraud which, according to the Association of Certified Fraud Examiners, costs the average company five per cent of its revenues every year.
Bortoletti, what is corruption?, commissione europea, ipa zagabria 21 23 no...Maurizio Bortoletti
The fight against corruption and other offenses against the public administration must be based on accurate and objective data to give citizens a realistic representation of the situation and not ultra sized, taking into account that it is evoking themes and sensational easily usable by this or that political party
Il contrasto al fenomeno della corruzione e agli altri illeciti contro la pubblica amministrazione deve fondarsi su informazioni precise e su dati oggettivi per dare ai cittadini una rappresentazione realistica della situazione e non ultra dimensionata, tenuto conto che si tratta di tematiche evocanti ed eclatanti facilmente utilizzabili da questa o quella parte politica.
Dr haluk f gursel, keeping tax supported officials around the globe accountableHaluk Ferden Gursel
Private Citizens, eager for accountability, are asking for a transparency in the changes in income and assets/fortunes of politicians and high level civil servants, accumulated while they are at the service of community.
Public opinion does not tolerate the illicit enrichment and conflict of interest, while on duty. For example, to obtain assurances of lack of fraud and corruption by politically exposed persons (PEP) is on the rise everywhere. A PEP is defined as someone who, through their prominent position or influence, is more susceptible to being involved in bribery or corruption. In addition, any close business associate or family member of such a person will also be deemed as being a risk, and therefore could also be added to the PEP list.
This presentation was first given at the World Bank, April 25, 2012. A version was also given at Transparency Camp 2012. The World Bank presentation was also webcast and a recording is available at: A recording of the webcast of the World Bank presentation is at http://bit.ly/ocdw
Chris Roush presents "Investigating Private Companies" during the four-day, Reynolds Center webinar, "Investigating Private Companies and Nonprofits."
For more information about free training for business journalists, please visit businessjournalism.org.
Etude PwC "Crime Survey 2014" sur la fraude dans le secteur pharmaceutique (o...PwC France
http://bit.ly/FraudePharmaCP
La 7ème édition de l’étude mondiale de PwC sur la fraude en entreprise, la “Global Economic Crime Survey 2014 », a été réalisée auprès de 5,128 dirigeants d’entreprises issus de 99 pays. 259 de ces répondants sont des dirigeants du secteur pharmaceutique et des sciences de la vie.
Procurement fraud, bribery, and corruption have moved beyond a perceived risk and become a real issue for many organizations. This paper highlights the need for organizations to put the necessary processes in place to protect against procurement fraud. It also serves as a warning that the absence of any visible instances of bribery, fraud, and corruption should be no cause for complacency as instances of successful perpetration may remain hidden for long periods of time.
Российский обзор экономических преступлений за 2016 годPwC Russia
В этом году в центре внимания нашего исследования находятся три вопроса: программы по соблюдению правил деловой этики и нормативно-правовых требований; противодействие легализации (отмыванию) доходов, полученных преступным путем; и киберпреступления. Помимо конкретных аспектов экономических преступлений, на которых следует сосредоточить особое внимание, в обзоре подчеркивается важность реализации более комплексных и эффективных мер, которые позволяют минимизировать указанные риски.
Первый выпуск PwC Индекса противодействия коррупцииPwC Russia
PwC публикует свой первый выпуск Индекса противодействия коррупции (далее – «ABCI», anti-bribery and corruption index), измеряющего уровень соответствия российских компаний требованиям антикоррупционного законодательства.
Соблюдение требований антикоррупционного законодательства приобретает все большее значение в России и за рубежом. Результаты проведенного PwC исследования показывают, в какой степени предпринятые крупнейшими российскими компаниями действия отвечают этим требованиям. Для целей данного исследования было выполнено сравнение общедоступной информации по российским компаниям, относящейся к сфере соблюдения антикоррупционного законодательства, с передовой практикой в данной области.
Всемирный обзор экономических преступлений за 2016 годPwC Russia
В рамках подготовки Всемирного обзора экономических преступлений PwC за 2016 год было опрошено более 6 000 участников из 115 стран. Несмотря на незначительное общее снижение количества зарегистрированных экономических преступлений, финансовая стоимость каждого отдельного мошеннического действия увеличивается. Четырнадцать процентов респондентов столкнулись с убытками на сумму более 1 млн долл. США за последние два года.
In this Economic Crisis going on today we have seen an alarming record levels of employee fraud, information and property theft, easy access to fake credentials, and conflicts and violence in the workplace. Accordingly, Kevin Connell has organized a “Complimentary Webinar” for HR Managers, Business Owners and CEO’s of companies across North America. In the webinar this Friday August 20th, the webinar will address the issues of employment background checks, employee fraud, resume fraud, and diploma mills.
Most companies have ethics and compliance policies in place and those policies usually include training for employees. That training typically includes material about policies prohibiting discrimination and harassment, bribery and excessive gift-giving. But it usually does not teach employees how to recognize signs of fraud and how to report them.
Employee fraud awareness training is one of the most important ways your company can protect itself from fraud which, according to the Association of Certified Fraud Examiners, costs the average company five per cent of its revenues every year.
Bortoletti, what is corruption?, commissione europea, ipa zagabria 21 23 no...Maurizio Bortoletti
The fight against corruption and other offenses against the public administration must be based on accurate and objective data to give citizens a realistic representation of the situation and not ultra sized, taking into account that it is evoking themes and sensational easily usable by this or that political party
Il contrasto al fenomeno della corruzione e agli altri illeciti contro la pubblica amministrazione deve fondarsi su informazioni precise e su dati oggettivi per dare ai cittadini una rappresentazione realistica della situazione e non ultra dimensionata, tenuto conto che si tratta di tematiche evocanti ed eclatanti facilmente utilizzabili da questa o quella parte politica.
Dr haluk f gursel, keeping tax supported officials around the globe accountableHaluk Ferden Gursel
Private Citizens, eager for accountability, are asking for a transparency in the changes in income and assets/fortunes of politicians and high level civil servants, accumulated while they are at the service of community.
Public opinion does not tolerate the illicit enrichment and conflict of interest, while on duty. For example, to obtain assurances of lack of fraud and corruption by politically exposed persons (PEP) is on the rise everywhere. A PEP is defined as someone who, through their prominent position or influence, is more susceptible to being involved in bribery or corruption. In addition, any close business associate or family member of such a person will also be deemed as being a risk, and therefore could also be added to the PEP list.
This presentation was first given at the World Bank, April 25, 2012. A version was also given at Transparency Camp 2012. The World Bank presentation was also webcast and a recording is available at: A recording of the webcast of the World Bank presentation is at http://bit.ly/ocdw
Chris Roush presents "Investigating Private Companies" during the four-day, Reynolds Center webinar, "Investigating Private Companies and Nonprofits."
For more information about free training for business journalists, please visit businessjournalism.org.
Etude PwC "Crime Survey 2014" sur la fraude dans le secteur pharmaceutique (o...PwC France
http://bit.ly/FraudePharmaCP
La 7ème édition de l’étude mondiale de PwC sur la fraude en entreprise, la “Global Economic Crime Survey 2014 », a été réalisée auprès de 5,128 dirigeants d’entreprises issus de 99 pays. 259 de ces répondants sont des dirigeants du secteur pharmaceutique et des sciences de la vie.
Procurement fraud, bribery, and corruption have moved beyond a perceived risk and become a real issue for many organizations. This paper highlights the need for organizations to put the necessary processes in place to protect against procurement fraud. It also serves as a warning that the absence of any visible instances of bribery, fraud, and corruption should be no cause for complacency as instances of successful perpetration may remain hidden for long periods of time.
Fraud and corporate governance changing paradigm in India 2012EY
This report offers a perspective on the bribery landscape across Europe, the Middle East, India and Africa (EMEIA), including enforcement trends, risks for businesses to be aware of and mitigating steps companies may want to consider.
For further information on EY's fraud investigation and dispute services, please visit: http://www.ey.com/IN/en/Services/Assurance/Fraud-Investigation---Dispute-Services
Discus the development of the fraud examinerforensic accounting pro.pdfMALASADHNANI
Discus the development of the fraud examiner/forensic accounting profession since the 2001
Enron fraud. Discuss applicable standards and the core foundation of the profession.
Solution
Forensic accounting has been pivotal in the corporate agenda after the financial reporting
problems which took place in some companies around the world like Enron. These scandals
resulted in the loss of public trust and huge amounts of money. In order to avoid fraud and theft,
and to restore the badly needed public confidence, several companies took the step to improve
the infrastructure of their internal control and accounting systems drastically. It was this
development which increased the importance of accountants who have chosen to specialize in
forensic accounting and who are consequently referred as “forensic accountants.”
Forensic accounting relies on the fraud triangle to identify weak points in the business systems
and find possible suspects in cases of fraud. It consists of three core concepts which together
create a situation ripe for fraud: incentive, opportunity, and rationalization. People must have the
incentive and opportunity to commit financial fraud, as well as the ability to justify it. Recent
analysis has suggested adding a fourth concept to make a diamond—capability. Just because
someone has the opportunity or incentive to steal does not necessarily mean that they have the
capability to do so. For example, if someone does not understand how to make journal or ledger
entries in the books of accounts, they would not know how to manipulate numbers no matter
what the incentive or opportunity is.
The accounting scandals involving Enron, WorldCom, Global Crossing, and other companies
have put accountants in the public spotlight as never before in their history. After these
accounting scandals, public confidence in the accounting profession has been seriously
undermined. However, the scandals have created business for forensic accountants and
developed opportunities for forensic and investigative accounting. Forensic accountants have
been conducting these activities for quite some time in a quiet professional manner. New laws
and regulations resulting from these scandals will make the role of forensic accountants more
important than ever before in the business world.
Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to
give expert evidence at the eventual trial. All of the larger accounting firms as well as many
medium-sized and boutique firms have specialist forensic accounting departments. Forensic
accountants utilize an understanding of business information and financial reporting systems,
accounting and auditing standards and procedures, evidence gathering and investigative
techniques, and litigation processes and procedures to perform their work. Forensic accountants
are also increasingly playing more proactive risk reduction roles by designing and performing
extended procedures as part of stat.
A general guide on tackling, handling, and preventing corporate fraud for human resources professionals and business owners.
Verity Consulting Limited is a corporate investigation consultancy based in Hong Kong providing a wide range of investigation and intelligence solutions to large and small corporations with extensive experience and networks operating around Hong Kong, Greater China and the Asia Pacific region.
Learn more about us at:
Website: www.verity.com.hk
LinkedIn: www.linkedin.com/company/verity-consulting-limited
Facebook: www.facebook.com/VerityHK
Google+: plus.google.com/+VerityHK
Assignment 1 Foreign Source Income Rules (Client Letter)Due Wee.docxtrippettjettie
Assignment 1: Foreign Source Income Rules (Client Letter)
Due Week 2 and worth 160 points
You are a CPA working as a tax professional engaged to provide tax advice to a client with operations in the United States and internationally. The client has specifically requested information on strategies that she can use to minimize the tax effects of foreign sourced income.
Use your text, the Internet, and / or Strayer Learning Resource Center to research the various rules regarding source rules for income and deductions.
Write a one to two (1-2) page paper in which you:
1. Create a letter to communicate to your client about the source rules for income and deductions and the conditions under which income received in foreign countries may or may not be taxed in the U.S.
2. Present a proposal to the client as to how to reduce the U.S. tax impact from income received from outside the U.S. Provide details to support your proposal.
3. Use at least two (2) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources.
4. Format your assignment according to the following formatting requirements:
·
a. Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
b. Include a cover page containing the title of the assignment, the students name, the professors name, the course title, and the date. The cover page is not included in the required page length.
c. Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.
The specific course learning outcomes associated with this assignment are:
· Analyze the source rules reach of the U.S. Tax Code in regard to international taxation.
· Use technology and information resources to research issues in international tax planning and research.
· Write clearly and concisely about international tax planning and research using proper writing mechanics.
Click here to view the assignment rubric.
See discussions, stats, and author profiles for this publication at: https://www.researchgate.net/publication/271133751
CORPORATE ACCOUNTING SCANDAL AT
SATYAM: A CASE STUDY OF INDIA'S ENRON
ARTICLE · APRIL 2013
CITATIONS
3
READS
14,224
1 AUTHOR:
Madan Bhasin
Universiti Utara Malaysia
61 PUBLICATIONS 122 CITATIONS
SEE PROFILE
All in-text references underlined in blue are linked to publications on ResearchGate,
letting you access and read them immediately.
Available from: Madan Bhasin
Retrieved on: 02 April 2016
https://www.researchgate.net/publication/271133751_CORPORATE_ACCOUNTING_SCANDAL_AT_SATYAM_A_CASE_STUDY_OF_INDIA%27S_ENRON?enrichId=rgreq-7575bbc3-6176-48c6-8023-d62e4623d53f&enrichSource=Y292ZXJQYWdlOzI3MTEzMzc1MTtBUzoxODc2OTYwNTYxMTkyOTdAMTQyMTc2MTYzNTgwNA%3D%3D&el=1_x_2
https://www.researchgate.net/publication/271133751_CORPORATE_ACCOUNTING_SCANDAL_AT_SATYAM_A_CASE_STUDY_OF_INDIA%27S_ENRON?enrichId=rgreq-7575bbc3-6176-48c6-8023-d62e4623d ...
THINKING ON HOW TO KILL THE KILLER BEFORE HE KILLS US ALL WHO IS THE KILLER? ...PROF. PAUL ALLIEU KAMARA
INTRODUCTION
Who is or what is the true Killer of African People? This question has being playing on my mind for years’ and years to months and months to weeks and to days. Well today is the day I attempted to search for answers and to know the true killer of my African People. This article will attempts to suggest some of the killers or what killers African People. This article is not the final answers to the entire Problem. However, I intended to limit the discussions on Political Corruption as one of the main factors that kills everything in the hands of African. So let look at some definitions and characteristics of Political Corruption and its effect in our social-economic development of Africa.
For the purpose of this article I will define corruption and the type of corruption we have
PART 1. Corruption: Its Meaning, Type, and Real-World Example
Introduction Corruption has recently been the subject of substantial theorizing and empirical research, and this has produced a bewildering array of alternative approaches, explanations, typologies and remedies. Corruption is understood as everything from the paying of bribes to civil servants and the simple theft of public purses, to a wide range of dubious economic and political practices in which businesspeople, politicians and bureaucrats enrich themselves. The issue of corruption is an old one, that has re-entered the current political and economic debate from the new interest in the role of the state in the developing world, and from the assumption that the state is an indispensable instrument for economic development, redistribution and welfare. In contrast to the largely rejected “state-dominated” and “state-less” development models, there is now much consensus on the need for an efficient medium-sized state apparatus with a political will and adequate economic policies to ensure economic development. Corruption is seen as counter-productive to the needed economic and political reforms, accountability, transparency, and good governance. The intention of this paper is to classify the various forms of corruption in order to operationalize the concept for analytical and practical purposes. First, different forms of corruption will be outlined. Secondly, corruption will be defined as a particular state-society relationship, and the distinction made between political corruption and bureaucratic corruption. Then two more distinctions will be added, namely between “individual” and “collective” forms of corruption, and corruption as a mechanism of either “upward extraction” or “downward redistribution”. This will sum up to the basic argument that the fight against corruption will have to be placed within a broader agenda of democratization.
Overcoming compliance fatigue - Reinforcing the commitment to ethical growth ...EY
This presentation is based on EY FIDS' 13th Global Fraud Survey. It highlights the state of fraud, bribery and corruption, comprising global as well as India findings.
For further information, please visit: http://www.ey.com/FIDS
The globalised business environment of today necessitates a strong network of global vendors that play a critical role in the business and can help bring considerable opportunities.
The Team Member and Guest Experience - Lead and Take Care of your restaurant team. They are the people closest to and delivering Hospitality to your paying Guests!
Make the call, and we can assist you.
408-784-7371
Foodservice Consulting + Design
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...CIOWomenMagazine
This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
Case Analysis - The Sky is the Limit | Principles of Management
September 2017 newsletter
1. 1 | P a g e
Building a Defense Against Bribery and Corruption
Bribery and Corruption are widely considered to go hand in hand. Whether caused by personal greed or
difficulties, the results do not change. Bribery and Corruption have been part of our society and economy since
the beginning of time. It has long been known and tolerated to an extent, however its tolerance has been
diminishing. Governments and business organizations in many countries are less prepared to overlook these
actions. One can say that the tide is turning on Corruption and Bribery. These changes are ethical measures
aimed at countering these practices and exposing persons, figures and organizations in all sectors
New pressures on Bribery and Corruption are also arising from the increasing incidents of corrupt practices,
throughout governments and businesses. For the past few years there have been several developments in regards
to Bribery and Corruption cases, specifically with Governments and Financial Organizations. It is time to
reinforce and rebuild a better defense against these two areas, so as to safe guard economies and markets.
One of the main issues with Bribery and Corruption is the difficulty in identifying these cases. Many persons
who commit these crimes are usually affluent and can afford to bend the rules and get away with it on occasions.
The training of employees and individuals is essential in order to counteract Bribery and Corruption, as well as,
safeguard companies and Governments from these dangerous and illicit practices.
If you have any questions or are in need of further advice, contact us at KAW and we will be ready to assist.
Remember that any comments and queries can be sent to us at training@kawmanagement.com,
training.kawmgmt@candw.ag or info@kawmanagement.com or visit our website at www.kawmanagement.com.
KAW“ESTABLISHING RELATIONSHIPS BUILT ON TRUST”
Introduction ………………………………………….… 1
Building a Defense against Bribery and Corruption … 2
The Effects of Corruption on Business …...…………… 3
Word Search………….………….………..…………….. 4
KAW Management Professional Services ...................... 5
ACFCS Certification Package…...................................... 6
Expert Articles ....……………………..……………….... 7
2. 2 | P a g e
Building a Defense Against Bribery and Corruption
By: KAW Management Services Limited
Bribery can be defined as “the offering, promising, giving, accepting or soliciting of an advantage as an
inducement for an action which is illegal, unethical or a breach of trust.” Whereas corruption can be classified as
“the abuse of entrusted power for private gain.” The two (2) most often go hand in hand, and in many countries
there are anti-bribery and anti-corruption laws in place.
It is important to note that bribery doesn’t always involve money, however it plays an integral role and can involve
any action deemed as improper, such as gifts, favours and promises. Therefore, entities must protect themselves
with thorough anti-bribery and corruption policies. These policies are put in place to increase the ethics and
compliance of an organization.
In Antigua and Barbuda, Bribery is a Predicate Offence under the Money Laundering Prevention Act, (MLPA).
A Predicate Offence is a crime that is a component of a more serious criminal offence. For example, Money
Laundering is the main offence and Tipping Off, Fraud, Bribery, and Willful Blindness are the Predicate Offences.
Building a defense against Bribery and Corruption is key to making sure your business thrives. Techniques such
as implementation of Whistle Blower mechanisms and training of employees and giving them the skills and the
knowledge can help to reduce these incidents. A clear and sound financial control, transparency and
accountability is also key. Putting in place proper procedures against receiving gifts and other commodities that
can be deemed unethical must also be done. An organization should periodically assess the nature and extent of
its exposure to potential Bribery risks both internal and external. Proper documentation is crucial for any defense
to show that sound adequate procedures are being put in place. This process should involve top-level
management.
Despite all that is done bribery is still neglected and enough manpower is not allocated to deal with it. However,
practical, responsible and transparent operational and management practices are vital to dealing with bribery and
corruption.
3. 3 | P a g e
The Effects of Corruption on Business
Written By: Linda Ray
Corruption inevitably leads to a diminished business climate when the public trust is put at risk, according to
Stanford Graduate School of Business. Corruption can take many forms that can include graft, bribery,
embezzlement and extortion. Its existence reduces business credibility and profits when professionals misuse their
positions for personal gain.
Inefficiency
When resources are tampered with and used improperly, the efficiency of a business suffers. Insufficient resources
are available to effectively run the business and maintain its levels of operations. When the news about corrupt
business professionals breaks, customers lose respect and trust, requiring company officials to spend valuable
time and resources to monitor the fallout and reassure clients the company is still viable. Legal fees, penalties and
public relations efforts reroute important resources form the core business and lead to an inefficient use of
company funds and personnel.
Lost Resources
In addition to the inefficient use of resources, corruption can have a number of other economic impacts on
business. Employee ranks often are inflated to cover up the corrupt professional’s activities. The cost of increasing
employee ranks in addition to any embezzlement that is going on is passed on to consumers in the form of higher
prices. Prices also can be inflated when corruption takes place outside a company in the form of corrupt
government officials who take bribes. Consumers pay the costs of vendor corruption when purchasing agents
require payoffs, or when vendors skim profits and raise prices to cover their illegal activities.
Weakened Development
Investors are skeptical of doing business with companies and municipalities that are known for corruption.
Whether you are seeking investment to grow your firm or you sell investments for a living, you will have a much
harder time finding willing investors when bribes or in-kind favors are required, or your business has a history of
corruption within its ranks. Competition is unfairly affected when investors’ risk is multiplied by changing
business climates that follow corrupt business practices. Due diligence is defeated when the facts change
according to the current levels of corruption. Practical investors steer clear of businesses with a corrupt history.
Increases Crime
The results of corruption in business add to the burgeoning roles of crime-fighting government agencies, police
departments and internal investigators. The trickledown effect of corruption usually ends up feeding black market
interests, and may even support the efforts of organized crime as the activities infiltrate various business levels.
Corruption begets continued criminal activity when it goes undetected. The effects of corruption in emerging
third world countries is evident and widespread, but even in America, where competition and greed can outweigh
the good of society, corruption fuels the growth of criminal enterprises and eventually affects the society in which
the business operates.
7. 7 | P a g e
Expert Articles
Bribery: How the UK Bribery Act Affects Bahamas Businesses
May 4, 2016 By Parris Whittaker, Attorney at Law
How is bribery in the commercial context dealt with by the courts, and how is it relevant to businesses in The
Bahamas? Prosecutors are taking a much stricter stance with individuals and organisations convicted of bribery
offences since the UK’s major bribery legislation came into force.
https://www.hg.org/article.asp?id=38225
Corporate Criminal Liability for Corruption Offences in Greece
November 12, 2015 By Sflegal law firm (former karydas Fouskarinis & Associates law office)
The basic legal framework concerning the liability of business entities for corrupt practices in Greece.
https://www.hg.org/article.asp?id=37013
Comparative Legal Analysis on the Legislations Regarding Corruption and Bribery in Turkey
March 5, 2014 by Serap Zuvin Law Offices
This article is a comparative legal analysis, which points out the adaptability of the legislation in Turkey and
the international agreements on corruption and bribery, whereas also points out the differences of the legislation
between Turkey, India and United States of America on the contemplated subject.
https://www.hg.org/article.asp?id=32235
Asia has Worst Defenses Against Bribery and Corruption - Financial Times
Sep 26, 2013 - Asia has the worst defenses against corporate fraud of any region and only ... anti-bribery and
anti-corruption policies in place, half do not make...
https://www.ft.com/content/ed8f38b3-358a-39e7-b3da-5dcf7e007c3f
The Anti-bribery Business
As the enforcement of laws against corporate bribery increases, there are risks that it may go too far
https://www.economist.com/news/business/21650557-enforcement-laws-against-corporate-bribery-increases-
there-are-risks-it-may-go