They may not be as fashionable as the color oxblood or fur vests, but Ernst & Young (EY) has compiled the top trends for 2014 in fraud and corruption. Shareholders expect growth. Regulators challenge corporate compliance. Companies try to mitigate risk. It’s a melee of competing ideals and EY breaks down the following themes for focus over the new year. Auld lang syne indeed.
Cybercrime: “Dealing with reputational harm and the business risk associated with cybercrime will become part of a general counsel’s responsibility set,” according to EY. Even though traditionally this work has fallen within the scope of the chief information officer’s work, the immediate responses and potential shareholder impact make it fall within the general counsel’s workload.
