Regulation of Financial Misconduct

The prospects of globalization and the benefits of technological innovation had a major impact on the development of the global business sector in the 21st century. In spite of increased corporate success rate and global market expansion, financial fraud within an organization can compromise financial success and public investment decision-making (Onyebuchi, 2011). Due to such financial misconduct and possible adverse effects, the Sarbanes-Oxley Act was promulgated in 2002.

Past general financial misconduct caused a call for financial reform. The Dodd - Frank Wall Street Reform and Consumer Protection Act was passed in 2010 to improve accountability and transparency in the financial industry and to protect consumers from fraudulent financial practices. Domestic survey Domestic surveys usually follow the word "show reason" sent to employees to explain suspicion of illegal behavior. If the answer is not sufficient, the employer will look to a more formal domestic survey. After accusations of fraud, domestic surveys should be done as soon as possible and all activities should be formalized and documented. Legally, investigation must be done objectively. For example, the investigators should be independent of the incident, given sufficient opportunity to present their case and provide evidence to their benefit.

Employee illegal activities may violate regulations and regulations of government agencies. Or it may indicate that an employee is unable, unwilling, or inappropriate to perform its duties. The obligation to investigate is not only suspected of illegal acts occurring when the supervisor worked, but also the occurrence of fraudulent acts that occurred outside the jurisdiction of the employment agency, or when the subject staff was out of office Doubt is also included. . Criminal reconnaissance. Therefore, the M member of the General Affairs Department should have the right to interview the institutional members and consider the records and reports of institutions related to that mission. In addition, institutional officials should be instructed to act in all internal investigations, as required by law enforcement officials.

Critical allegations of official misconduct may include violations of criminal regulations and institutional rules and regulations. Therefore, criminal investigation and administrative disciplinary investigation may be necessary to properly solve complaints of fraud. In cases where criminal and administrative disciplinary investigations are required, an internal investigator of the competent authority is usually required to conduct both investigations at the same time. In this case, the method used for criminal investigation contradicts the method used for administrative investigation.