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Inside Internal Controls

News and discussion on implementing risk management

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Hiring controls: a close look at managing the risks of hiring

Human capital is a firm’s most important and profitable asset. Recall Swiss banking giant UBS’ rogue trading disaster in 2011, during which the bank reported a $2.3-billion loss as a result of one man’s unauthorized trading. UBS’ chief executive officer resigned as a result, and the bank also lost two high-ranking executives who took indirect responsibility for the incident…

 

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