Joseph Spinelli examines the internal controls (or lack thereof) in a Netflix lawsuit
As uncovered by a recent Netflix lawsuit, setting internal controls is imperative to companies compliance programs. Within this Compliance Week article, Joseph Spinelli, Managing Director within Guidehouse’s Global Risk and Compliance practice explores how common it is for executives to take kickbacks for contracts. The article also explores which industries are most vulnerable to this type of scheme and the systems, controls and checks and balances companies need to have in place to quickly detect and prevent these schemes.
“This is a classic case of poor internal controls,” says Spinelli. “The fact of the matter is that if Netflix had the proper internal controls in place, this would have been picked up immediately.”