Suchergebnisse

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  A Practice Aid for Company Executives: The Ethics Barometer

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …from the local managers in my business unit. B. Compliance Culture B.1 Everyone is committed to the stipulated norms and values of the… …. Compliance Program Acceptance and Knowledge C.1 I receive information and guidance to help me understand the company’s overall values and principles as… …I had a question about doing the right thing, I would seek advice from the ethics hotline/the compliance department. C.7 If I observed or had… …knowledge about misconduct, I would feel comfortable reporting it to the ethics hotline/the compliance department. C.9 As a result of the incident… …forensic investigators. C.10 The board of directors is informed of reported incidents on a regular basis. C.11 Compliance issues are being addressed… …fraud awareness sessions is adequate. C.18 The company has established its compliance policy by means of a long- term integrated plan. It regularly… …conducts a strategic analysis on non- compliance risks. C.19 The company has made sufficiently clear to me the incentives to uphold the standards of…

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  Case 37: Siemens (Germany, 2006)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …independent investigation of the entire Siemens compliance system. Siemens informed in a press release that KPMG, the company’s independent auditor, would… …International and an internationally recognized anti-corruption expert) as compliance advisor. “Siemens tolerates absolutely no illegal conduct by employees –… …internal compliance department knew of the ongoing black money scandal. “It was a system of organized irresponsibility that was implicitly con- doned,” said… …have been in full compliance with all applicable auditing standards.” However, the Siemens supervisory board was not told of any wrong- doing until… …are new processes, new people and new procedures,” said compliance advisor Michael J. Hershman. “But that does not make a difference unless there is a… …basic precept that “money-for-business” is no longer tolerated. Compliance staff has grown to nearly 500, from 86 in 2006. Most of the employees have… …order to ensure compliance with anti-bribery laws. “We have made substantial progress in stamping out corruption,” said Siemens general counsel Peter Y… …. Solmssen. “But that is only a start. Healthy compliance cultures depend on a more values-based leadership where people don’t need to look at the rule book…

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  Chapter 4: Conclusion and Outlook

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …towards any illegal acts or ethical misconduct. Ethics and compliance factors should be integrated into human resource policies, including reward systems… …misconduct. The regular delivery of fraud awareness trainings is vital for maintaining a quality compliance organiz- ation. – Based on the fraud risk… …assessments, the company’s compliance controls have to be evaluated periodically. In a widely dispersed and decentralized organi- zation, the effectiveness of… …the compliance controls is particularly important. Regular monitoring of these controls facilitates fraud detection and serves as a strong deterrent…

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  A Practice Aid for Auditors: Fraud Interviews – An Inquiry Guide

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …– Has internal audit reported any weaknesses in the compliance program to management or audit committee? If so, what was the response? – What… …and detect fraud? What is HR’s role in relation to these programs and controls? – How often are employees trained in company ethics and compliance… …be informed on a timely basis about any suspicions? Appendix: Practice Aids 302 (7.) Questions to ask the Chief Compliance… …entries, etc.) that provides adequate guidance? Are there controls in place to ensure compliance with this policy? Are you aware of any weaknesses in… …of transactions that the com- pany may enter into? Are there controls in place to ensure compliance with this policy? Are you aware of any weaknesses…

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  Case 23: Computer Associates International (2004)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …governance and to make reforms of its financial accounting controls. The company established a comprehensive new ethics and compliance program, overseen by a… …new chief compliance officer, and a new compliance committee of its board of directors. Ultimately, the company agreed to be subject to government…
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  Case 10: MicroStrategy (2000)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …that the company had not been in compliance with the primary rule on revenue recognition for software companies, SOP 97-2, which had been issued by the… …governance and compliance. These changes included creating an internal audit department, appointing an inde- pendent director with experience in public…
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  Case 39: Seibu Railway (Japan, 2004)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …tasked with building up a compliance system, strengthening its internal supervision and removing the influence of Yoshiaki Tsutsumi (who stepped down as…
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  Case 11: American Tissue (2001)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …contained the material misrep- resentation that the company was in compliance with its loan covenants with its lenders (when it was not), and omitted to…
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  Introduction

  Professor Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …, adequate knowledge and skills in this specialized field. Moreover, corporate anti- fraud professionals (such as internal auditors and compliance officers)…
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  The Warning Signs of Fraud

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …turnover rates of accounting, internal audit, compliance, or IT staff – No clear separation of duties – Inadequate system of authorization and approval of…