| ||
|
News < Back Compliance : Sarbanes Oxley : Whistleblower Whistleblower Hotlines Should Become Prevalent The AICPA suggests publicizing the hotline phone number to stakeholders beyond employees.
?Not only does the AICPA acknowledge that hotlines are an important tool for combating fraud, but they encourage audit committees of all companies, not just those subject to Sarbanes-Oxley, to cultivate a strong whistleblower program,? said Tony Malone, CEO of The Network. ?The guidelines mention the use of an independent hotline provider as an action to enhance the hotline?s effectiveness as an internal control,? he said. ?The AICPA also suggests publicizing the hotline phone number to stakeholders beyond employees,? said Malone. Tips are the leading method of detecting corporate fraud, according the Association of Certified Fraud Examiners, whose studies have found that hotlines deliver measurable results by preventing and detecting fraud. ?With comprehensive employee education, hotlines are a powerful tool for preventing fraud. The AICPA has issued a comprehensive checklist for audit committees to use in designing independent hotlines as an effective internal control,? said Malone. |
| |||
© 2019 Simplex Knowledge Company. All Rights Reserved. | TERMS OF USE | PRIVACY POLICY |