Jim Oakes, CFE, Managing Director for Financial Crime Risk, Ltd., has been elected to serve on the ACFE Board of Regents. Jim traveled to ACFE headquarters in Austin, Texas, last week for his swearing-in; and he shared the following thoughts for the UK Newsletter.
Q. Jim, we don’t have boards of regents in the UK. Can you explain why they are so important?
The Board of Regents reviews the long term mission and vision of the ACFE. Its focus is on the members and their needs, and it operates independently from the commercial side of the ACFE. It also deals with any disciplinary aspects that may arise. So having a multinational board is a clear indication of the global nature of the ACFE.
Q. How was your visit to the US?
A. It was very productive. As well as meeting (ACFE founder and Chairman) Dr. Joseph Wells and the staff, I also had the opportunity to meet with the other board members to discuss members' needs around the globe. I was very pleased to hear that the roll-out of the Corporate Alliance is a real success. With large corporations losing as much as five per cent of their annual revenues to fraud and with publically traded shares taking a 17 per cent drop on news of a discovered fraud, the Corporate Alliance is a way that companies can show their commitment to fighting fraud whilst taking advantage of ACFE discounts for its employees.
In addition to the scheduled Board meetings, time was also made available to meet individually with most of the 70-plus ACFE staff on-site who do an outstanding job, both supporting and representing our association in a highly professional and, I have to say, enthusiastic manner.
2012-2013 ACFE Board of Regents: Bruce Dorris, J.D., CFE, CPA, CVA (Advisory Member); Roger Darvall-Stevens, MA, CFE (Vice-Chair); James J. Oakes, CFE; Johnnie R. Bejarano, DBA, CFE, CPA, CGMA (Chair); James D. Ratley, CFE (Advisory Member); Michelle Brown, CFE; John Warren, J.D., CFE (Advisory Member)