The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more fully. Seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss the basics of fraud prevention, drawing on headlines from the NBA and a FinServ enforcement See more +
The award-winning Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, literally going into the weeds to explore a subject more fully. Seeking insightful perspectives on compliance? Look no further than Compliance into the Weeds! In this episode of Compliance into the Weeds, Tom Fox and Matt Kelly discuss the basics of fraud prevention, drawing on headlines from the NBA and a FinServ enforcement action.
The embezzlement scandal at the Atlanta Hawks has drawn attention to critical weaknesses in corporate governance and internal control systems, serving as a cautionary tale for organizations everywhere. They view the scandal as a glaring example of the consequences of neglecting internal controls and the segregation of duties, where an executive, Leslie Jones, exploited their finance role to embezzle funds for personal indulgences. His experience highlights the importance of routine audits, which, despite their perceived monotony, are crucial for detecting fraud. Meanwhile, Matt is equally concerned, focusing on the need for robust internal controls and the principle of least privilege, warning against granting excessive access to employees to prevent misuse of power and safeguard organizational integrity.
Key highlights:
• Lessons from Atlanta Hawks Fraud Case
• Least Privilege Access for Preventing Financial Fraud
• Financial Data Examination for Fraud Detection
• Executives’ Lavish Misconduct: Lessons in Ethics
Resources:
Matt in Radical Compliance: http://www.radicalcompliance.com/ See less -