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Trekking Through Compliance

Trekking Through Compliance – Episode 36 – Risk Management Lessons from Catspaw

In this episode of Trekking Through Compliance, we consider the episode Catspaw, which aired on October 27, 1967, and occurred on Star Date 3018.2.

Strange things happen to a landing party consisting of Jackson, Sulu, and Scotty when they beam down to planet Pyrus 7. When Kirk, Spock, and McCoy beam down to investigate, leaving DeSalle in command and Chekov as his sidekick, they are enveloped in fog. They also detect multiple life readings, even though the Enterprise’s sensors only detect the landing party. They are all captured by Korob and Sylvia.

Meanwhile,  Enterprise is breaking free through DeSalle’s efforts. Korob sets Kirk and Spock free and tells them to leave immediately because he can no longer control Sylvia. Kirk grabs Korob’s scepter, and after fending off attacks from McCoy, Scott, and Sulu, Kirk tells Sylvia that he has the scepter. Kirk breaks the scepter in front of Sylvia. The castle vanishes, and Sylvia and Korob appear as the bizarre blue and yellow puppet-like alien beings they are. Unable to survive in this galaxy without the transmuter, they shrivel up and melt away, and Sulu and Scott are returned to normal.

Commentary

The story follows a landing party encountering strange, supernatural events on planet Pyrus 7, leading to valuable compliance lessons. Key takeaways include maintaining situational awareness, establishing effective incident response, identifying and mitigating supply chain vulnerabilities, fostering a culture of skepticism, prioritizing resilience, and empowering cross-functional collaboration. The episode uniquely ties the plot’s elements to practical compliance and risk management learning.

Key Highlights

  • Story Synopsis
  • Fun Facts and Production Notes
  • Narcissism in Cat’s Paw
  • Risk Management Lessons

Resources

Excruciatingly Detailed Plot Summary by Eric W. Weisstein

MissionLogPodcast.com

Memory Alpha

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Compliance Into the Weeds

Compliance into the Weeds: COSO Fraud Risk Management Framework

The award-winning, Compliance into the Weeds is the only weekly podcast that takes a deep dive into a compliance-related topic, going into the weeds to explore a subject more fully and looking for some hard-hitting insights on sanctions compliance. Look no further than Compliance into the Weeds!

Get ready to dive into the fraud risk management and prevention world with Compliance into the Weeds, hosted by Tom Fox and Matt Kelly. In this episode, they break down the recently released fraud risk framework by COSO and the Association of Certified Fraud Examiners and how it’s necessary for today’s cyber-based fraud and cryptocurrency. They stress the importance of data analytics and internal hotlines to prevent fraud and that all employees need to be trained to detect and prevent fraud in their industry. The hosts also discuss how financial reporting controls may not always detect fraud and how anti-fraud controls are essential. With the rise of new types of fraud like ESG and greenwashing, the hosts recommend the fraud risk report for audit and compliance professionals to stay informed about risks swirling around corporations today. Take advantage of this informative and fascinating podcast. Tune in to Compliance into the Weeds now.

Key Highlights:

·      Fraud Risk Management: COSO Report 2nd Edition

·      Effective Fraud Prevention Training for Employees

·      Importance of Anti-Fraud Controls in Fighting Fraud

·      COSO Fraud Risk Guidance and the Fraud Pentagon

Notable Quotes:

“But when you think about it, we have a lot of external factors, such as the rise of cryptocurrency, which is riddled with fraud and corruption risk. New methods of cyber-based fraud, which didn’t exist, say, 2016, the 2010s before that. Rise of ransomware in particular, which wasn’t quite a big thing back then that it is all over the place now.”

“Most frauds, you the risk management function, you might never catch them. By looking for them, you’ll have to depend on somebody else coming to you from the enterprise, say, I think this person over here is doing something sketchy.”

“Fraud is having a moment. And fraud risk is on the forefront of many people’s minds from many different areas.”

“We need to do better at finding ways to assess and understand your fraud risk and then implementing new controls as necessary to push that risk down to acceptable levels.”

Resources

Matt 

LinkedIn

Blog Post in Radical Compliance

Tom 

Instagram

Facebook

YouTube

Twitter

LinkedIn

Categories
Everything Compliance

Everything Compliance – Episode 110, The Bayeux Tapestry Edition

Welcome to the only roundtable podcast in compliance as we celebrate our second century of shows. Everything Compliance has been honored by W3 as the top talk show in podcasting. In this episode, we have the quintet of Jay Rosen, Jonathan Armstrong, Jonathan Marks, Tom Fox, and Matt Kelly, who discuss a potpourri of issues. We conclude with our fan-fav Shout Outs and Rants section.

  1. Matt Kelly at the SEC enforcement action against McDonald’s for giving disgraced former President Steve Easterbrook a severance package without explaining its reasons. He rants about the Department of Justice CCO certification requirement for Danske Bank.
  1. Jonathan Marks reviews the Fraud Pentagon and explains the additions of arrogance and convenience to the Fraud Pentagon. He Rants about the recent FAA failure, which crippled the US airline industry.
  1. Tom Fox has his first dual shout-out. His first shout-out is to US District Judge Middleton for sanctioning Donald Trump and his lawyer, jointly and severally, for $938,000 and the recently deceased musician David Crosby.
  1. Jonathan Armstrong looks at the NIS II Directive. He rants about the Tory proposed law against publicizing small boats that would make showing or even talking about the Bayeux Tapestry illegal.
  1. Jay Rosen looks at when and how is a compliance program ‘good enough.’ He shouts out to the NFL for the playoffs and for getting us the best four teams in the final four.

The members of Everything Compliance are:

  • Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
  • Karen Woody – One of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu
  • Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
  • Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
  • Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at marks@bakertilly.com

The host and producer, ranter (and sometime panelist) of Everything Compliance is Tom Fox, the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.

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Everything Compliance

Everything Compliance-Episode 75, the GOAT and Pandemic Edition


Welcome to the only roundtable podcast in compliance. Today, we have a quartet of Jonathan Armstrong, Jonathan Marks, Matt Kelly and Jay Rosen for a deep dive into plethora of topics generally related to the GOAT in football and the Coronavirus pandemic. We end with a veritable mélange of rants and shouts outs.

  1. Jonathan Armstrong joins us from London to review the UK Supreme Court decision in the KBR Section 2 document request case. He shouts out to the UK Judiciary for its perseverance during the Coronavirus health crisis and a special shout out to Texas lawyer Tiddles the Cat.

 

  1. Matt Kelly considers the recent CDC guidance on vaccine and the return to work movement by asking how it all will impact compliance. Matt shouts out to GOP Representative Adam Kissinger for his calling out the hypocritical behavior in failing to punish Donald Trump for leading an insurrection against America.

 

  1. Jonathan Marks looks at the Fraud Pentagon in the context of fraud risks in the era of the Coronavirus pandemic. Marks shouts to former National Holdings CCO Kay Johnson for her victory over her former employer who fired her when she investigated the company CEO for securities law violations.

 

  1. Jay Rosen pens a love sonnet to the GOAT and his former QB Tom Brady and looks at Tompa Bay’s accomplishment from the compliance perspective. Rosen shouts out to Twitter and FB for banning the former President from their platforms.

 

  1. Tom Fox rants about former KPMG UK chairman Bill Michael who was forced to resign after telling KPMG employees to ‘stop whining’ about working during the Coronavirus pandemic. For good measure Michael said there was no such thing as ‘unconscious bias’ against minorities. 

The members of the Everything Compliance are:

  • Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
  • Mike Volkov – One of the top FCPA commentators and practitioners around and the Chief Executive Officer of The Volkov Law Group, LLC. Volkov can be reached at mvolkov@volkovlawgroup.com
  • Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
  • Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at armstrong@corderycompliance.com
  • Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at marks@bakertilly.com

The host and producer (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.