"The outset of the 21st century has seen a relentless flow of events from the 9/11 terrorist attack to the 2008 financial recession that have given birth to a new regulatory and enforcement landscape. In today’s global and digital world, this increasingly complex landscape has created unprecedented challenges and risks for businesses in all industries.

"The New Era of Regulatory Enforcement provides an overview of the challenges companies face in conducting business in this new environment. It discusses the government policies, strategies and tactics driving enforcement activity and outlines the most effective approaches for preventing, detecting, and responding to the risks presented."


The stated audience for this book ranges "from members of corporate boards and C-suite executives to others within an organization who are responsible for compliance and risk" as well as individuals involved in internal or external audits and "others who may want to know more about the risks organizations face". They should add business students to that list, because this should be required reading at business schools across the country.

Girgenti and Hedley provide an excellent framework for approaching risk management (preventive controls, detective controls, and responsive controls -- comparable to steering controls, concurrent controls, and feedback controls in corporate finance), and then explain how to apply that framework to a broad range of industries and topics, including money laundering, bribery and corruption, financial reporting fraud, tax evasion, unfair and abusive consumer financial practices, and misconduct in healthcare and life sciences. As other reviewers have noted, this is a US-centric approach, but the risk management framework provided is certainly not subject to geographic restrictions, and many of the cases discussed reach well beyond North America.