frost, pllc | 425 west capitol avenue, suite 3300 | little rock, ar 72201 | 501.376.9241 | employee...
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Leading an Ethical Team
T.J. Boyle, CPA
June 2015
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Why Do We Care?• Employee satisfaction increases due to the
emphasis on safety and integrity,
• Management proactivity increases due to identified trends in the areas of safety, harassment, discrimination and other costly issues,
• Profitability increases due to controlled costs such as insurance, workers compensation and governmental fines,
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
• Malicious lawsuits are more easily defeated,
• Theft is detected more quickly, if not deterred altogether,
• Reputations are protected when small problems are caught before becoming big
• Management spends less time on headaches and more time on constructive efforts
• ALL OF THIS LEADS TO
Why Do We Care?
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Examples• Enron
• Politicians
• Mortgage Industry
• NFL
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Where Does It Affect Hog Companies?
• Fraud in the workplace
• Hiring Practices and Other HR Practices
• OSHA Violations
• Animal Welfare
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
KEYS TO ETHICS IN THE WORKPLACE
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Corporate Governance• Tone at the Top
• Policies and Rewards
• Management must “Champion” this
• Communicate the Process
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
• Discuss often (reinforcement)–WE create SAFE food for the WORLD
–WE treat animals HUMANELY
–WE treat others with RESPECT
• Effective Deterrence
Corporate Governance (cont.)
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Risk Assessment• Identify Risks
• Assess Risk
• Determine Response
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Prevention• Ethics training
• Anti-Fraud training
• Assess performance and compensation (do they match the companies goals)
• Reviewing exit interviews
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Prevention (cont.)• Looking at segregation of duties
• Authority Limits
• Documentation of the risk assessment and controls
• Continuous monitoring
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Detection• Anonymous fraud/ethics hotline
• Reconciliations and Review
• Physical inspections and observations
• Internal audit
• Data analysis
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Report and Investigate• Prompt and confidential review• Investigation team• Evaluate the allegation• Protocols– Timeliness– Secure evidence– Objectivity– Notification (law enforcement, auditors, insurance)
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Report and Investigate• Investigate– Interviews– Evidence– Computer forensics
• Reporting & Communications• Corrective Actions– Criminal– Civil case– Insurance– Improvements
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
Conclusion• Organizations benefit in many ways:
– Employee satisfaction
– Management proactivity increases due to identified trends in the areas of safety, harassment, discrimination and other costly issues,
– Profitability increases due to controlled costs
– Malicious lawsuits are more easily defeated
– Theft is detected more quickly, if not deterred altogether,
– Reputations are protected
– Management spends less time on headaches and more time on constructive efforts
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Frost, PLLC | 425 West Capitol Avenue, Suite 3300 | Little Rock, AR 72201 | 501.376.9241 | www.frostpllc.com
T.J.Boyle, CPAFROST, PLLC