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Internal Controls to Prevent Financial Statement Fraud

Reciprocity

energy company coasted on accounting fraud until it imploded in 2001, leading to the passage of the Sarbanes-Oxley Act the following year. Multiple checks and balances deter employees from fudging financial information and indulging in fraudulent activities and accounting behaviors. Review the check register or general ledger.

Audit 52
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Internal Controls to Prevent Financial Statement Fraud

Reciprocity

energy company coasted on accounting fraud until it imploded in 2001, leading to the passage of the Sarbanes-Oxley Act the following year. Multiple checks and balances deter employees from fudging financial information and indulging in fraudulent activities and accounting behaviors. Review the check register or general ledger.

Audit 52
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Internal Controls & Fraud Prevention

Reciprocity

Internal fraudsters might engage in fraudulent activity for years by taking advantage of their “trusted insider” status. These consequences came to pass when the Enron scandal broke in 2001. The collapse of Enron, along with several other corporate frauds circa 2001, led to enactment of the Sarbanes-Oxley Act in 2022.

Audit 52
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SIA New Member Profile: The Homeland Security Consulting Group

Security Industry Association

11, 2001, I was working as a U.S. I was asked to lead the program, providing technical evaluations of the products and services submitted for evaluation, and after several years I left for the private sector to become a consultant to help the applicants through the SAFETY Act process. Tell us the story of your company.