Top 20 Internal Controls to Detect and Prevent Fraud - Webinar By ComplianceOnline (Financial Services)

Venue: Online Event

Location: Palo Alto, California, United States

Event Date/Time: Aug 22, 2012 End Date/Time: Aug 22, 2012
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Would your organization benefit from a best-in-class internal controls program that prevents fraud and avoids compliance fines? Internal controls should be an integral part of an organization and are designed to provide reasonable assurance of achieving: effective and efficient operations; reliability of financial reporting; and compliance with applicable laws and regulations. Internal controls also serve as the first line of defense in safeguarding assets, preventing and detecting fraud, and ensuring compliance.

A decade ago, the Foreign Corrupt Practices Act (FCPA) , which bars American companies from bribing officials overseas, was rarely enforced or discussed. Today, it strikes fear throughout the executive offices of companies with overseas operations, generating huge fees for law firms and large fines for the federal government. The collapse of Enron a decade ago also led to tougher financial laws — including requiring top executives at publicly traded companies to certify that their companies’ books were accurate, forcing them to keep track of overseas money flows — and greater energy in enforcing them.

Attend this webinar to learn how to implement better internal controls to detect and prevent fraud. We will also conduct a review of recent case study examples to help you understand what can go wrong.

Why Should You Attend:

  • To avoid compliance fines

  • To prevent fraud

  • To implement a best in class internal control system

While Wal-Mart may be the most prominent company yet to get into trouble under the act, several specialists voiced doubt that any eventual fine would be nearly as large as some of the figures in other recent cases, which tended to involve huge procurement or oil deals. Such fines are generally calculated based on the amount of the bribes — the Wal-Mart case involves about $24 million — as well as the amount of ill-gained profit. That could turn on an analysis of whether the bribes merely sped up the opening of particular stores, or if they would never have been built if not for the graft.


Online Event
2600 E. Bayshore Road
Palo Alto
United States