Sam Antar
Convicted felon and former CFO of Crazy Eddie, Sam Antar, sent a memo to President Obama with his “takes one to know one” message. I encourage you to read it on his White Collar Fraud blog which we follow for great info.
Antar talks about “sound internal controls and independently verifiable financial information” as the backbone for integral financial information with not enough attention “being paid to effective internal controls to prevent crimes.” As Oversight keeps preaching, he says this is especially important with the trillions in stimulus and bail out monies.
I agree with Antar. Both the private sector and the government need more of an “internal control structure to prevent white collar crime.” Legislation and FBI agents aren’t in the trenches daily monitoring for fraud, misuse and error. Continuous controls monitoring software fills the void.
