Whistleblowing
“You do not wake up one morning saying, ‘Well, I am going to be a whistleblower,’” says Stephanie Gibaud.
What should you do if you know or suspect that your company has undertaken or endorses unethical or illegal behavior? Lori Pizzani reports.
Michael Woodford, former president and CEO of Olympus Corporation, was controversially fired after revealing widespread company fraud. Woodford recounts his experience and discusses the role and perception of whistleblowers today.
Willful blindness on the part of investment professionals, financial institutions, and investors was a contributing factor to the 2008 crisis. What can be done to prevent it from happening again?
Question your assumptions and never underestimate the importance of culture, former Olympus CEO Michael Woodford told delegates at the 66th CFA Institute Annual Conference.
Paul Smith, CFA, managing director of the APAC region at CFA Institute, appeared on CNBC’s Squawk Box Tuesday to discuss new trends emerging in the financial services industry.
Greg Smith, a former executive director and vice president at Goldman Sachs, caused a stir this March when he resigned from the firm via an op-ed in the New York Times. Although… READ MORE ›
Whistle-blowers provide a real benefit to companies: Fraud costs a typical company about 5% of its revenues, and whistle-blowing is the single most common method of fraud detection. Recent studies show, however, that retaliation against whistle-blowers is on the rise.
The largest corporate fraud in Chilean history offers a cautionary tale not only about improper accounting and misleading financial statements but also about the importance of implementing an organizational culture that encourages employees to take action when they observe unethical behavior.