Where was internal audit?
Is it really so difficult for senior executives to know what is going on? What is the escalation process? Is there any? If so, how does it work?
There are many cases of wrongdoings in the business and the corporate world.
Internal Audit and Compliance departments are at the forefront of the speak-up and escalation lines and yet, when looking at the scandals, it seems these lines are not very busy.
Few minutes later, there I was going, on a nearly impossible mission: to convince General Manager and one of the founders of a medium size company that the financial statements, in particular the profit and loss account, had to be adjusted significantly. Otherwise we had no other option but to issue a qualified audit opinion.