Latest issue: Conflicts of interest: under-disclosed, under-monitored, and under-mitigated
- Conflicts of interest are a pervasive, age-old business risk that begets many types of fraud (e.g., corruption, embezzlement, financial reporting fraud) in companies of all sizes and sectors. Yet, they’re often underestimated and/or under-mitigated, hardly treated as the enterprise risk they can easily and recently have become.
- Many organizations have disclosure policies to identify problems at the outset (e.g., as part of employee onboarding or SOX compliance), but lack meaningful follow-through. Left unchecked, employee conflicts can lead to significant financial, legal, regulatory, and reputational harm.
- Managing this risk can’t be a one-and-done, box-checking exercise. It requires end-to-end guardrails such as ongoing monitoring and disclosure requirements, escalation procedures, disposition tracking, mitigation protocols, and accountability mechanisms.
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