The Pros And Cons Of Internal Investigation

First and foremost, the accounting system used should be updated. The case stated that the system was 30 years old and that prior accounting period transactions could not be locked down, which enabled internal control processes to be bypassed. Enhancing internal

Clearly, confidentiality is essential to the healing process. However, though it may appear to be a relatively easy concept, its application in the therapeutic atmosphere has proven to be quite complex (Younggren & Harris, p. 589). One issue that causes confusion for many professionals pertains to the differences between confidentiality and legal privilege. Quite often, ethical obligations overlap with the legal requirements. Frequently, the practitioner is not well informed about these particular limits on confidentiality and this lack of knowledge can place both the client and the helping professional at risk (Younggren & Harris, p.590, 598).

4.) Employee Compliance to the Code: The entire staff is expected to be compliant to the rules and regulations set forth by Company X. Reported accounts of non-compliance will lead to an internal investigation of both the accuser as well as the accused; disciplinary action will necessarily follow if company rules and regulations have not been adhered to or improperly dismissed. Granted that there are many different situations that could arise in which one would believe unethical behavior or misconduct transpired; therefore, it is suggested that first the issue in question is evaluated before presenting to one’s direct

Beach J discussed the meaning of Attorney Rules 15 – see [84]. He criticised it as unclear, it seeming to deal only with conflict between duty & interest, not duty & duty.

(p) “Diligent Investigation” means an investigation that includes interviewing each Executive Officer of a company, either currently working at the company or having worked there in the prior five years,3 under inspection and reviewing all relevant Government and company records relating to the matter of inquiry and performing an in person inspection of the facilities or properties under inspection.

Professional ethics is one of the most crucial elements of practicing law successfully. Many take this matter lightly, causing them unfortunate career banning outcomes for their behavior or lack thereof. Throughout this paper I will discuss many different areas of unauthorized practice of law, for lawyers and non-lawyer professionals, as well as a historical overview of cases throughout history summarizing these unethical behaviors, and the outcome by our judicial system.

Employers must always check for potential weaknesses in the internal process, and most importantly be on the lookout for fraud; early detection will minimize the impact fraud has on employees, shareholders, and stakeholders (Downing, 2015).

An internal management review of an organization has uncovered many serious issues which lead to block internal and external strategic relationships creation as well as result in poor general awareness in organizational goals, values and ethics.

Accounting and management are the major pillars of an organization that contributes to the country’s economy. Introduction of AICPA Code of Professional Conduct helps in controlling the business operation especially in the accounting and management departments. Accounting and management fraud have been experienced whereby through corruption or other means, entrusted managers and accountants tend to be selfish in undertaking their duties. These factors are well addressed by the AICPA Code of Professional Conduct principles. Therefore, the study seeks to introduce two case studies whereby the management fraud have been experienced. Furthermore, the study will incorporate the use of AICPA Code of Professional Conduct in controlling the situation to ensure harmonious business operation in the management.

Prior to a corporation or its employees taking action, it usually requires an informed legal advice. Legal direction may be either taken or dismissed; the point is that in order to provide an informed decision counsel and its direct reports are provided with confidential information. Counsel reviews the confidential information and provides an opinion on the issue. This opinion may or may not support the legality of a matter and the company may or may not act because of the information provided, however, the confidentiality of the initial information provided, the attorney’s thought process, as well as all reasoning associated with this process needed to be retained as confidential.

A company might decide to establish an internal audit department because an effective and independent internal audit department add values and improve effectiveness of risk management, control, and governance processes. It also helps prevent and detect the frauds.

Merriam-Webster dictionary defines an ethical dilemma as a problem where a person has to choose between a moral and an immoral act. Attorneys come into contact daily which involves the attorney-client relationships. The attorney-client privilege is a legal privilege that works to keep communications between a lawyer and his/her client secret (silence is golden). The privilege is a legal doctrine that protects confidential information, the contents and actions related to the privileged communication must preserve the integrity of the attorney-client privilege. This paper presents the ethical dilemmas of the attorney-client privileges, trust and the importance of adequate closure in attorney-client relationships.

The support staff owes the client confidentiality and fairness. They owe the court their honesty in not misleading the court with false statements or facts known to be false. The litigation support person owes their confidentiality and ethical conduct.

Fraudulent, erroneous, and illegal acts committed by a public company, usually at a managerial or executive level, have been a very serious problem for many years and have prompted development of strict and updated regulations, such as the Sarbanes-Oxley Act, in an attempt to prevent these occurrences. Unfortunately, these new or updated regulations are not enough to prevent these acts from happening, thus not alleviating the auditors of their responsibility to detect fraud. Some methods that management and auditors can employ to prevent and detect fraud, errors, and illegal acts are: improving knowledge, improving skills,

The role of internal audit is to provide independent declaration that an organization’s threatadministration, governance and internal control processes are functioning effectively. Internal auditors deal with concerns that are essentially important to the existence and success of any organization. Unlike external auditors, they aspect beyond financial possibilities and statements to reflect wider problems such as the organization’s reputation, development, its power on the location and the approach it treats its organizations.In summary, internal accountantssupport organizations to thrive.