Contributing to our position as Australia’s premium Financial Risk Management resource, our management globally explores and surveys relevant and valuable articles published by respected professionals, academics and organisation. The articles offered here are suggested reading for any Business Owner and Financial Risk Management professional.
20 May 2019
Although the author's article is based on US experiences and dictates, there is a lot of value in this article when considering effective compliance programs for your business.
This article provides guideline that all businesses can use to implement an effective compliance program which is effective, and suitable for their business. The people in your who will most benefit from a compliance program, are business owners and managers, directors, risk management professionals and middle management.
If you are unsure how a compliance and compliance program might add value to your business, reading this article may be helpful.
26 Feb 2019
Rutger’s School of Criminal Justice professors Marcus Felson and Ronald V. Clarke developed "Ten Principles of Opportunity and Crime" which describes how opportunities, or vulnerabilities, are the root cause of crime.
If you take the 10 principles and re-apply them to your business, it is another method to help you reconsider the risks to your business from another perspective.
In order to manage risks to our business, we need to understand these risks from different perspectives and keep reviewing the risks periodically. This article may be of value if you have not thought about the risks to your business lately. When you are managing risk, it also means you are working on your business and not just in it.
5 Dec 2018
The author Jim Walton puts forward the proposition; to create an effective Code of Conduct you need to start with what you want the code to do.
He says when creating a Code of Conduct your aim is to affect behaviour by reinforcing good behaviour and discouraging bad behaviour. But HOW to do that? Mr Walton suggests there are three key words which answer that question – inspire, guide, and enable.
If you do not have a Code of Conduct for your organisation or wish to review your existing Code, this article may be of value.
30 Oct 2018
The author Robin Singh has provided useful insights on why people engage in white-collar crimes.
As you read through this article, you will note there are many complex issues which make white-collar crime a fascinating subject in its own right. This is notwithstanding its horrendous cost to the community, organisations and to individuals who might be both victims and perpetrators.
As the article covers a number of topics with appropriate stories, I suggest this may be a valuable read for those interested in the concept of white-collar crime and coming to grips with its complexity.
9 Oct 2018
Cheryl Batgol has written on the value of a positive culture in the public sector and how a positive culture helps in its fight against fraud. The author also believes a positive culture assists to reduce decisions which could reflect badly on the public sector organisation and lead to negative consequences for the organisation in the future.
In addition, the author has put forward the proposition that organisations with positive organisational cultures are more focussed on long term thinking and strategy. In these environments, not only is innovation valued, people and relationships are also seen as vital elements in the success of the organisation.
The issues raised in this article for a positive organisation culture, are focused on the public sector organisation. The fact is, a positive culture also applies for a business. As is well documented, one of the key aspects of why fraud is possible in a business, is because of poor organisational culture.
Therefore, this article may be of value to those business people who wish to work towards creating a positive culture in their business to reduce fraud and poor decision making.
26 May 2018
Roy Snell discusses the actions of ethicists who advocate that compliance programs are not worth the effort when it comes to managing bad and unethical behaviour.
He suggests the critics of compliance programs are doing a great deal of damage with their criticism of organisations which are developing a culture of compliance and avoidance of bad behaviour. Roy Snell believes their argument about compliance programs is patently false. Whilst he does understand their thoughts about the importance of ethics, he does not believe their efforts to discredit compliance programs is helpful in the fight against bad behaviour.
It would seem Mr Snell believes that ethicists are putting their vested interests ahead of the common good by advancing the theory that compliance programs are not worth the effort and a focus solely on ethics would be more beneficial.
You may find value in reading this article from several perspectives, one of which is; compliance programs do have a valid place in the fight against bad and unethical behaviour.
26 Apr 2018
Ask any credit management professional, debt collector or lawyer collecting a debt or trying to manage a dispute, what are the most important aspects of success?
Without doubt, their answer will include a properly prepared and signed credit or trading contract, plus supporting documentation.
Dean Kaplan, an experienced debt collector from the US has written a blog on these aspects.
Another important aspect is that properly prepared contracts and good paper trails also provide excellent evidence for purchase and sales fraud investigations.
If you are starting up a new business, reviewing your credit or trading contracts, or need to be convinced on the importance of good contracts and documentation trails, this blog may be of value.
21 Oct 2017
Many business people are encouraged to consider exporting as a way of increasing their sales. This is a fine thought. Unfortunately, whilst being encouraged to consider the positives of exporting, rarely are business people properly cautioned about the associated risks.
Austeja Kibildyte's article introduces a number of risks which a potential exporter would be wise to consider.
If you are interested in exporting, now would be would be a good time to explore both the positive and negative aspects of exporting. It is very easy to spend a lot of time, energy and money and wish you knew what was involved if your exporting ventures turn nasty. This article may be of value to help you come to grips with a number of the issues when exporting and help you minimise any adverse consequences.
15 Jun 2017
Dealing with bribery is a complexing question for those businesses involved in exporting. What once may have been a normal business practice, although frowned upon, is no longer acceptable.
Arghemar's article is a timely warning that issues surrounding bribery are serious and have long term negative implications if your business is caught out. You may think there is little to worry about if your business stopped the practice of offering bribes and no longer are involved in that behaviour. Unfortunately as many are finding out now, the stigma remains and there is little leniency for those who were involved in offering of bribes in the past.
No longer can you afford to afford to ignore the issues surrounding bribery. If you are unsure if your business could be caught up in a bribery investigation, Arghemar's article may be of value in understanding the issues involved.
7 Oct 2015
Imbedded in Professor Graycar's article is a brief insight in to Australia's history of corruption in Australia. As he mentions, many people do not see any purpose in wasting time talking about corruption "... because it has always been there and always will be."
However, as Professor Graycar points out, the facts demonstrate when corruption is tackled, positive outcomes are possible. The Professor also highlights some of the issues ahead in fighting corruption as a result of today's volatile world.
"While Australia is very highly regarded, it would be foolish indeed to become complacent. In the face of economic turbulence, demographic change, environmental threats, and knowledge and communications revolutions among other things, the public policy challenges will be formidable. Good governance and unimpeachable integrity will have to be the bedrock of our policy and delivery apparatus. We can deal with corruption, maladministration and misconduct at the coal face if we have good principles, good practices and good data."
This statement presents guidelines and principles to help business owners and managers identify and operate their businesses to avoid being caught up in corruption matters.
As a starting point in your own efforts to understand and avoid the pitfalls associated with corruption, this article may be worth reading.
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