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Transforming corporate cultures by placing CFEs in top echelons

ACFE Board of Regents' interview

During an interview at the 30th Annual ACFE Global Fraud Conference, the Board of Regents opined on how to change corporate cultures, new corporate compliance guidance, ethics vs. profits and more.

The participants

(From left to right)

  • Eric R. Feldman, CFE: Feldman is the senior vice president and managing director - corporate ethics and compliance programs for Affiliated Monitors Inc. and a longtime ACFE Faculty member. Previously, he had a 32-year career with the CIA and other U.S. federal agencies.
  • Elizabeth J. Simon, CFE, CPA: Simon is the director of ethics & compliance for Cox Communications Inc. She serves on the board of directors of the Atlanta (Georgia) Compliance and Ethics Roundtable.
  • Bethmara Kessler, CFE: Kessler is a lecturer and consultant. She's the former head of integrated global services for Campbell Soup Company and has served as chief audit executive, chief compliance officer and head of enterprise risk management for Fortune 500 companies.
  • Ryan C. Hubbs, CFE: Hubbs is the global anticorruption and fraud manager for Schlumberger Limited. For more than 18 years, he's conducted international corporate investigations and forensic audits for companies within the energy sector.
  • Tony Prior, CFE: Prior is head of financial crime operations at National Australia Bank. He's the founder of the ACFE Sydney Chapter and a former federal agent with the Australian Federal Police.

CFEs can trumpet the age-old “tone at the top” concept, but if top executives aren’t working to transform corporate cultures throughout organizations then fraud prevention and deterrence will continually run up against roadblocks. The members of the ACFE Board of Regents know this from their years of consulting with C-suite execs who want to tackle fraud but also have to wrestle with timid general counsels, fluctuating quarterly reports and concerned stakeholders.

The Board gathered at the beginning of the recent 30th Annual ACFE Global Fraud Conference to opine on the latest anti-fraud issues during a 90-minute Fraud Magazine interview. Here’s a fraction of their views on new corporate compliance guidance, placing CFEs in top management and on boards of directors, vetting unqualified investigators, growing anti-fraud cultures, ethics versus profits and more. (Comments have been edited for clarity and brevity.)

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