Culture Revisited
First Public Course – Culture Revisited
Today’s sees Risk Audit’s first in-person public courses after a 7-year hiatus. Ironically the last course focused on the Audit of Culture. Today’s course – the Audit of Culture! So, what has changed? We will take attendees through the Behavioral Risk concept that allows internal auditors to apply traditional risk-based auditing techniques as they would with any other risk. If you have missed out, why not consider your in-house tailored version of this course? Please email [email protected]
Singapore Oil Trader Jailed
Not any old trader but OK Lim, the founder of Hin Leong Trading. The 82-year-old gentleman was sentenced to 17 and a half years in jail for encouraging a company executive to forge documents that led to $112 million in losses for HSBC. Mr. Lim sought to hide losses of $800 million from his creditors as well as selling off their collateral to raise funds.
BDO Auditor Barred
On the subject of forgery, BDO auditor, Amanda Nightingale, has been barred by the UK’s Financial Reporting Council, from serving as an accountant and auditor for 20 years. Her crime was forging signatures and filing accounts without proper authorization for a period of 5 years. She operated out of the firm’s Gatwick office. It is understood that her misconduct was due to illness in the family and resulting stress.
EU Shoots for Reduced Settlement Window
The European Securities and Markets Authority has announced that it will seek reduce the securities settlement time window to one day from 11th October 2027. This date is designed to coincide with the United Kingdom’s move to this standard. The US has already got there.