Control Chatter
May 2024
News that Control Professionals need to know
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BECOME A RECOGNIZED LEADER | |
The Internal Control Institute™ (ICI) improves organizational Internal Controls worldwide by providing internationally recognized training, products, services, and individual Professional Certifications. The Institute would like to help more organizations and professionals by expanding further into areas where it is not directly represented. For a list of areas already represented see the end of the newsletter. |
MAKE $$$ WHILE YOU CONTRIBUTE TO YOUR PROFESSION
ICI provides world-class programs and its intellectual property to affiliates free of charge and shares all program revenue with them. If your organization is interested in partnering with ICI to earn revenue while you contribute to the development of the internal control profession worldwide don't hesitate to get in touch with Dr. Michael Pregmon, Jr., Chief Operations Officer, by email at:
mpregmon@internalcontrolinstitute.org or by phone at 727-538-4113 in the USA.
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Test your Knowledge of Internal Control
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The Internal Control Institute has developed two mini assessments to test your knowledge. A CICS Common Body of Knowledge Mini Assessment that helps an individual determine their knowledge as it relates to organizational governance and control practices. Results point out areas of knowledge that may require additional training and experience. The assessments also provides a measurement to the individual's readiness for CICS certification.
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Start becoming an Internal Control professional today! | |
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The ICI "Certification Series" of online courses |
The ICI "Certification Series" has been completely updated and is available online to everyone around the world! Course content prepares individuals to design and/or assess internal control and to assist management in installing internal control processes. In addition, the series prepares candidates for the Certified Internal Control Specialist (CICS) Examination. To review the course catalog click
ICI Course Catalog
To register for one or all of the online training programs click here:
The Internal Control Institute Store
Online course pricing has been reduced by over 70%
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Credentials and Badges
ICI is committed to providing you with the tools necessary to achieve your professional goals and we understand that communicating your credentials in an ever-expanding online marketplace can be challenging. That is why we have partnered with Credly to provide you with a digital version of your credentials. Digital badges can be used in email signatures or digital resumes, and on social media sites such as LinkedIn, Facebook, etc. This digital image contains verified metadata that describes your qualifications and the process required to earn them.
No Cost To You!
ICI Credentials and Badges is a service we provide to you, at no cost.
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Internal Control Chatter
Each month the staff of The Internal Control Institute reviews hundreds of articles related to Internal Control and Corporate Governance. Here are brief summaries of some of the top articles (along with links to the original article) that may be of interest to you.
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How To Lead Ethical AI Implementation: Strategies And Lessons
By Susana Sierra
forbes.com
May 21, 2024
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As artificial intelligence (AI) continues to expand and acquire more power, companies are taking advantage of how it allows them to optimize their efficiency and productivity. By analyzing large amounts of data and automating tasks, AI is helping improve customer service and operational efficiency across industries. However, it also comes with a series of risks, and therefore, I believe you, as a leader, have a great responsibility to be aware of them and manage them ethically. The Edelman Trust Barometer 2024 once again showed companies as the most trusted institutions, ahead of NGOs, governments and the media. But despite the fact that companies also appeared at the forefront as those organizations most trusted to safely and accessibly introduce new technologies, they garnered only 59% in this metric, which is shy of the 60% threshold that the Barometer establishes as constituting "trust." Respondents believe innovation is poorly managed with insufficient government regulation and a lack of trusted traditional leaders. They are overall suspicious about the independence of science from politics and money.
Read The Article
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Qualcomm’s 2023 Corporate Responsibility Report: Ethical Governance
yahoo.com
May 21, 2024
Originally published in Qualcomm's 2023 Corporate Responsibility Report
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Compliance with global anti-corruption laws also continues to be a top priority for the Company. To this end, our Global Foreign Corrupt Practices Act (FCPA) and our AntiCorruption Policy applies to the entire Company, including all employees, agents, consultants and representatives, wherever they are located. It is our policy to obey all laws, including those laws that regulate the Company's conduct in the marketing and selling of Company products, services and technologies.
e strictly prohibit all bribes, corrupt payments, kickbacks and other forms of improper influence involving government officials or private individuals. We obtain that commitment of our third party contractors and service providers who may act as Qualcomm agents or intermediaries by contractual obligations relating to compliance with applicable anti-corruption laws and regulations.
Read The Article
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From principles to prosperity
The time has come to 'apply and explain'
IoD
13 May 2024
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Principles have been at the heart of the UK’s governance and stewardship codes since the Cadbury Committee enshrined them in its seminal report on the financial aspects of corporate governance in 1992. They have played an important part in the UK’s global pre-eminence. However, in recent times, the UK’s corporate governance crown has been slipping. The Cadbury Committee also promulgated the concept of ‘comply or explain’ to enable companies to give reasons for non-compliance, noting that the Code was to be followed by companies ‘in the light of their own particular circumstances’.
Read The Article
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Why tech company governance matters more than ever
Jordan Times
May 24,2024 -
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The tech industry, a vibrant jungle of innovation, is constantly pushing the boundaries of what’s possible. But amidst the rapid growth and groundbreaking ideas lurks a persistent threat which is insider threat. These threats, emanating from disgruntled employees, financially stressed individuals, or even those tempted by lucrative offers from competitors, can cause significant damage, jeopardising intellectual property, customer data and ultimately, public trust, because of that governance emerges as the essential root system, nourishing a secure and responsible tech landscape. Imagine a thriving tech startup. Ideas blossom, code flows freely and collaboration thrives. However, this very openness can be a breeding ground for insider threats. Hence, Tech company governance refers to the framework of rules, processes, and practices that guide how these companies are directed and controlled.
Read The Article
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UK’S VIEW ACROSS THE POND AT U.S. WHISTLEBLOWER PROGRAM SUCCESS – TIME TO INCENTIVIZE TIPSTERS?
by Pamela Coyle Brecht
falseclaimsact.com
May 16, 2024
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Several recent developments may spark a renewed effort to incentivize United Kingdom (UK)-based whistleblowers who frequently provide tips to U.S.-based agencies, such as the Security and Exchange Commission (SEC). The confluence of legislative developments, remarks by the director of the UK’s Serious Fraud Office (SFO), and the British Parliament’s focus on a scandal that rocked the post office may pave the way for new legislation providing incentives for tips to government authorities in the UK. In making his remarks, the director of the UK’s SFO noted the proliferation of tips from UK nationals to U.S. government agencies, including more than 700 from the UK. This recognition of the success of American-based enforcement efforts that incent whistleblowers through lucrative rewards has caught the eye of our friends across the pond. Law enforcement in the UK is just catching notice of what whistleblowers already know – when incentivized, whistleblowers come forward.
Read The Article
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The 2024 Audit Committee agenda and the questions investors should be asking
harvard.edu
by Sophie Gauthier-Beaudoin and Tim Copnel
May 14, 2024
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The business and risk environment has changed dramatically over the past year, with greater geopolitical instability, surging inflation, high interest rates, and unprecedented levels of disruption and uncertainty. Audit committees can expect their company’s financial reporting, compliance, risk, and internal control environment to be put to the test by an array of challenges – from global economic volatility and the wars in Ukraine and the Middle East to cybersecurity risks and ransomware attacks and preparations for climate and sustainability reporting requirements, which will require developing related internal controls and disclosure controls and procedures. This is compounded by uncertainty in the UK regulatory landscape and in particular the extent to which internal control frameworks will need to be strengthened, evidenced, and assured as a result of the on-going UK governance and audit reforms.
Read The Article
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DOJ Plans to Apply the New Whistleblower Rewards Pilot Program to FCPA Cases
By Michael Gilbert, Jennifer N. Le & Krista Landis
whitecollarlawblog.com
April 15, 2024
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Just one day after Deputy Attorney General Lisa Monaco announced the U.S. Department of Justice’s (“DOJ’s” or “Department’s”) whistleblower pilot program on March 8, 2024, the DOJ’s Criminal Division highlighted its plans to apply the program in its fight against global corruption. Specifically, the Criminal Division described its plan to apply the new whistleblower initiatives to Foreign Corrupt Practices Act (“FCPA”) cases as part of its overarching priority of targeting the “most complex financial crimes and having the greatest possible impact on corporate conduct.” Speaking at the American Bar Association’s 39th National Institute on White Collar Crime in San Francisco, Acting Assistant Attorney General (“AAAG”) Nicole Argentieri detailed how the Criminal Division will use the pilot whistleblower program in FCPA cases to increase both enforcement actions and voluntary disclosures of violations by corporate entities. Under the pilot program, individuals who provide “original, nonpublic, truthful information” about major corporate wrongdoing may be eligible for a cut of any resulting forfeiture proceeds.
Read The Article
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Below is a list of WorldWide Affiliates currently serving the profession. If your area is not represented please consider partnering with ICI by contacting us today!
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ICI World Wide Affiliates
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Contact: Mr Aminur Rahman
Email: info@aaa-associate.com
Tel: +88 01749 400600
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Contact: Soulémane BABA DAMAGUI
Email: sbabadamagui@gmail.com
Tel: +0022997492600
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Contact: Mr Humphrey Chawafambira
Email: humphrey@internalcontrolinstitute.co.bw
Tel: +267 75618647
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Contact: Mr Eduardo Person Pardini
Email: eduardo@crossoverbrazil.com
Tel: +55 11 2599 8360
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Contact: Mr Eric Kamegne
Email: eric.kamegne@ipeonline.net
Tel: +237 658 292 978
Our first CICS session in April is online only
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Contact: Mr Qiu Jianting
Email: cert@neikong.com
Tel: 400-098-1119 or 010 68004176
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Contact: Mr.Nikolai Triffet
Email: nikolai@icib.org
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Contact: Mr Summit Goyal
Email: info@bncglobal.in
Tel: +91 9810 575 613
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Contact: Mr Nereo Guzman Mendoza
Email: nguzman@businesssolutionvalley.com
Tel: +52 811 181 3514
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Contact: Mr Belal Abdul Jabbar
Email: b.ajabbar@osooltc.com
Tel: +962 6 5927171
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Contact: Mr Yazid Berrada
Email: yazid.berrada@bcloud.ma
Tel: +212 (0) 522-872-585
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Contact: Mr Joel Aluko
Email: tunjialuko5@yahoo.com
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Contact: Mr Muhammad Farooq Hammodi
Email: nardac_k@yahoo.com
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Contact: Mr Cosmin Serbanescu
Email: contact@incir.ro
Tel: +40 752 525 525
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Singapore, Malaysia, Indonesia & Taiwan China |
Contact: Mr Bob Seetoh
Email: bobseetoh@theglobalgrc.com
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Contact: Ms Sedie Jane Masite
Email: sediem52@gmail.com or info@ciagol.com
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Contact: Ms Nadia Yaich
Email: nadia.yaich@bfc.com.tn
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Contact: Ms Ilknur Tunc
Email: ilknur.tunc@iciturkey.org
Tel: +90 312 442 50 15
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Contact: Mr Jesus Salazar Ras
Email: salazarras1970@gmail.com
Tel: +58 426 737 8096 or + 58 416 291 3788
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Contact: Mr Nguyen Thanh Tung
Email: info@fmit.vn
Tel: 848 3803 5020
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Contact: Dr Proctor Nyemba
Email: admin@internalcontrolinstitute.co.zw
Tel: +263 4 443124
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Control Quote
"Before you are a leader, success is all about growing yourself. When you become a leader, success is all about growing others." -Jack Welch.
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The Internal Control Institute™ (ICI) is a worldwide organization devoted exclusively to internal control and corporate governance. The Institute is dedicated to the development of world-class educational programs and best practice guidelines on internal control and corporate governance, based on the Sarbanes-Oxley Act and the COSO internal control framework.
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