December 26, 2006
Not Strictly a U.S. Problem
Financial irregularities are not unique to the United States. This week we see the New York Times (AP) reporting that two senior executives would be resigning from Nikko Cordial Corporation, a brokerage firm, following "accounting irregularities." A press release issued by the company reports on the establishment of a special investigating committee "to identify the fact of the matter that results the need to adjust its financial statements." The company will be using individuals external to the company for this audit. They are also implementing measures to make certain this will not occur in the future. Compliance programs can be beneficial no matter where in the world the company exists.
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Surely, this is not a US problem; this is a world problem. As long as people see security and power in money, they would run after it. If you succeed in making money, then you are successful. If you fail in this respect, you are failure. If you are unable to make money by positive means? Well, then, try making it by unlawful way. If you are able to do this without getting caught in the act, you are not only a master of yourself but also of the world.
Posted by: Bertrand Wilson Hatia | Jan 30, 2009 12:30:33 PM