For as long as there has been business, there has been fraud. However, the level of sophistication and magnitude of fraud perpetration has evolved considerably over the last decade even as petty corruption continues to occur in less conspicuous manners. Of the many forms that fraud can take, insider and third-party threats such as management … More Financial goals and ethical conduct: not a trade-off
Increased globalization has resulted in businesses expanding their footprint across the world. To drive efficiency, most organizations tend to outsource non-core activities to external or third parties. While the growing network of third parties can help organizations sustain in a challenging environment, it has also brought with it risks such as bribery and corruption, Intellectual … More Managing third party risks through enhanced due diligence
In our last segment of EYPerspecTV with Mr. Vinod Rai, former Chairman of United Nations Panel of External Auditors and 11th Comptroller and Auditor General (CAG) of India, we talked about how private companies in India could improve their corporate governance structures and ensure compliance in more than just substance. In the third and final segment of this series, Mr. … More EYPerspecTV – Interview with Vinod Rai (Part 3)
The dependency on third parties to enable easy functioning of business is immense. Companies engage the services of various third parties for multiple reasons – it could vary from getting a factory license, securing permission to even obtaining contracts. But the risks associated with such sub-contracting are not given enough importance.