Social Media Risks

Social Networking Carries Real Compliance Risks

Written by Steven Randall and Veronika Fritz, Partners, Vonya Global Between all the bathing suit selfies and Worldwide Wrestling fan pages, social media seems, well, silly and inconsequential. It becomes less silly when the FDIC or FTC come knocking because they caught you sneaking an ad into your blog post, or an advisor made a […]

IT Baseline Testing

Baseline Testing: Benchmarking of Automated Controls

Written by Sargon Youmara, Partner, Vonya Global Baseline testing is a term used in accounting and audit to describe the testing of an automated application control. Once an automated application control has been tested and it is determined by an auditor to be effective, the auditor may conclude that the control remains effective over subsequent […]

Reporting Fraud to SEC

New Norms For Reporting Fraud To The SEC

Written by Steven Randall, Partner, Vonya Global Prior to 2013, the Securities and Exchange Commission (SEC) had permitted companies in fraud cases to settle without admitting to any wrongdoing; this meant that even in serious cases of accounting fraud, companies could simply walk away without admitting their malfeasance despite the loss of millions on the […]

Breach Management Best Practices

Breach Management: Best Practices and Policies

Written by Veronika Fritz, Partner, Vonya Global Cybercrime puts any business at risk—more so now than ever before, as the recent Target and Sony attacks emphasize. Cybercriminals are constantly working to find devious ways to destroy brands, disrupt operations, and steal information. Breach management policies are the key to addressing these growing cyber crime risks. […]

Auditing Ethics

Guidelines for Auditing Ethics and Compliance Programs

Written by Steven Randall, Partner, Vonya Global Auditing ethics and compliance programs ensures that an organization “walks the walk.” This is the way any business can safeguard itself against fraud by seeing that the practices that exist in its daily operations match up with the procedures it espouses in its policies and code of conduct. […]

International Business Risk

The Risks of Conducting Business Internationally

Conducting business internationally carries many risks that domestic business does not. International business involves exposure to local economic conditions, fraud, and bribery. Business can be interrupted by political problems such as insurrections, problematic diplomatic relations, hostility from locals, and volatile foreign governments. Unstable currency exchange rates and exchange restrictions can also complicate international dealings. Finally, […]

Handling Misconduct at the Management Level the Right Way

Written by Sargon Youmara, Partner, Vonya Global Recently, the SEC awarded a whistleblower with more than $300,000. Though the employee first reported misconduct internally, the company failed to act and suffered greater consequences for inaction. This was the first such award given to a whistleblower working in compliance, and acts as a signal to the […]

Creating Speak Up Culture

Creating a Speak Up Culture

Written by Sargon Youmara, Partner, Vonya Global Research and case studies have proven that a majority of employees do not speak up when they see fraud or misconduct in the workplace. This is true across a spectrum of businesses, even when employees have great IT security, sound internal audit procedures, and other corporate resources to […]

Fraud Prevention for Venture Capital and Private Equity

Written by Steven Randall, Partner, Vonya Global It happens all the time, human capital / resource constraints at start-ups and small to medium sized companies limit the ability to have a robust accounting and finance staff. In most cases one person is typically responsible for many tasks. When these tasks overlap, like: reviewing and paying […]

Construction Audit

Using Audit to Reduce Costs of Major Construction Projects

Written by Steven Randall, Partner, Vonya Global Organizations involved in major capital projects are missing out on significant opportunities to reduce costs. This is not to say that construction managers are fiscally irresponsible, conversely they are very reluctant to spend money where it is not absolutely necessary. So much so that in an effort to […]