Governance, Risk & Compliance (GRC)
About our Services
Few pieces of legislation have had such far reaching impact on the business community as the Sarbanes Oxley Act of 2002 (SOX). With management now personally accountable for establishing a system of internal controls over financial reporting and for creating a proper "tone at the top," SOX has transformed the way public and private entities do business.
WithumSmith+Brown, PC's (WS+B) Governance, Risk and Compliance (GRC) Practice provides a myriad of services to public and private companies of all sizes. Through its dedicated consulting division, WithumSmith+Brown Global Assurance, LLC (WS+B GA), the GRC Group's primary focus is to add value while helping companies through the maze of complex compliance rules.
WS+B's driving force is our professional commitment to client services by providing a value-added component to compliance. This is accomplished by utilizing only experienced GRC specialists on engagements. And through constant communications with internal management and the independent auditors, we ensure an effective and efficient process that not only helps identify key controls, but also opportunities to replace manual controls with more efficient IT controls.
The Partners' Network Blog
Fraud in Not-for-Profits
Again and again, stories appear in newspapers about abuse and misuse of funds in not-for-profit organizations. In many cases, these frauds have been schemes that have been going on for numerous years. The frauds are usually carried out by long serving employees who earned reputation and trust that resulted in relaxation of controls or oversight. Many times, this provides temptation and ample opportunity to commit and sustain fraudulent activity over long periods paired with a reduction in the “fear” of being caught!