1. WHAT IS FRAUD?
Fraud is a knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment.
2. HOW MUCH TIME ELAPSES BEFORE FRAUD IS DETECTED?...more
We recently released our 2014 Global Ethics Benchmarking Report, an annual report that contains a thorough analysis of the previous five years of whistleblower hotline reporting data, that gives the market insight into...more
The Office of the Comptroller of the Currency (OCC) on October 30 published revised policy and procedures for how it manages Matters Requiring Attention (MRAs) resulting from its examination of supervised institutions. MRAs...more
Over the past few months, the Securities and Exchange Commission (‘‘SEC’’) has publicly stated its increasing focus on public company internal controls and related reporting obligations. In February of this year at the...more
It’s been quite a while since the word team has brought so much excitement to Northeast Ohio — the return of LeBron, our improving Cleveland Browns and the fact that it is prime-time fantasy football season! Each week we...more
One of the primary purposes of a written partnership (or limited liability company (LLC) operating) agreement is to establish rights and obligations for management. In a general partnership or joint venture, any partner or...more
In an article published last summer, Professors Stephen Bainbridge and M. Todd Henderson argued that “significant gains that could be realized by permitting firms (be they partnerships, corporations, or other business...more
The most effective ethics and compliance program starts with a CEO. But that is not the end of the story. Life is easier with a CEO who understands the importance of ethics and compliance, promotes it as a financial driver...more
Last year, Florida Governor Rick Scott signed the Florida Revised Limited Liability Company Act (the New Act) into law. The New Act, which is codified in new Chapter 605 of the Florida Statutes, is a complete rewrite of the...more
On December 18, 2013, New York State Governor Andrew Cuomo signed the Nonprofit Revitalization Act of 2013 (the Act) into law, triggering the first overhaul of the New York Not-for-Profit Corporation Law (N-PCL) in more than...more
Effective January 1, 2014, the existing limited liability company (LLC) statute in California (the “Old Act”) will be replaced by the California Revised Uniform Limited Liability Company Act (RULLCA). Actions taken by...more
On July 30, 2013, the Ontario Securities Commission (OSC), released its proposal to require TSX-listed companies to provide disclosure with respect to women on boards and in senior management as set out in the OSC Staff...more
With bullying in the news of late, I was recently asked how employers should deal with a star employee that bullies or berates co-workers....more
In an important decision upholding the right of hotels to make pragmatic agreements with unions on hotel operations, the United States District Court for the Southern District of New York dismissed a claim brought by banquet...more
During January and February 2013, The Network conducted an online survey on the effectiveness of managing corporate policies. We asked organizations to let us know how they are implementing and applying their corporate...more
The era of specialization has returned…again.
Most large, multi-national corporations have been grooming their executives to accumulate a broad set of management challenges and experiences across a number of disciplines....more
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