Webclass 56: How the business, compliance and internal audit have been changed forever

Q1. Since the Ukraine invasion, do we have more or less oversight on Supply Chain?

More because the governments want to ensure that they get delivered essential products

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Less because the government is focused on more urgent issues of national security

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Q2. Which area did the audience consider to be the most impacted by the Russia-Ukraine invasion?

Supply chain

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ESG

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Q3. What year was the AML law updated?

2020

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2022

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Q4. Does AML only relate to financial institutions?

No, it also relates to any organization, for example, an agency supplier receiving commissions to an offshore account

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Yes, it is focused on financial institutions and insurance companies

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Q5. Does the AML 2020 have a bounty program?

Yes

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No, only the whistleblower provisions

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Q6. Do you need a lawyer to be a whistleblower?

No

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Yes, you do to understand how to file the case

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Q7. What does ABC stand for?

Anti-Bribery Compliance

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ABC of internal controls

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Q8. How much do the UN and WEF estimate loss due to corruption?

3 Trillion USD

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2 Billion USD

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Q9. How does Biden’s elevation of anti-corruption laws to National Security Issue impact oversight?

More funding is provided to government agencies for oversight and investigation and internal auditors' role has been enhanced to "gatekeepers"

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It means that there are more investigations going on in Russia

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Q10. Should internal audit follow the board’s recommendations for audit planning or help educate the board on risks based on data?

Help educate the board

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Follow closely the directives of the board without swaying their opinion

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WC056 – How the business, compliance and internal audit have been changed forever

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Webclass 56: How the business, compliance and internal audit have been changed forever

admin June 9, 2026

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