Trust But Verify: Protecting Yourself From Fraud
Trust But Verify
Did the banks and hedge funds that dealt with the crook Bernard Madoff have an ethical obligation to look more deeply into Madoff's business? In this video (under 2 minutes), I explain why your duty is to trust but verify.
If you're a CPA, this duty is clear and unambiguous. It also applies, however, if you're an HR professional.
It's hard to imagine what field would be immune from having to do this.
This video was originally presented on Bloomberg Businessweek as an episode of my series, “Ask the Ethics Guy.”
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