Erik Lie: Catching Cheats, Fraud Detection, and the Board’s Evolving Role

(0:00) Intro (1:30) About the podcast sponsor: The American College of Governance Counsel (2:16) Start of interview (3:01) Erik's origin story (6:10) His role at the Tippie College of Business at the University of Iowa. (7:49) Exploring his book Catching Cheats (9:39) About the field of forensic economics (11:00) The Challenge of Private Market Data and Fraud *Reference to our Startup Litigation Digest (16:24) Board Responsibilities in Fraud Detection (19:03) Challenges for private company boards (21:22) Insights and red flags from the Madoff Case (26:30) Insider Trading and Its Challenges (31:29) The Role of Whistleblowers in Fraud. Reference to E142 with Tyler Shultz and E130 with Mary Inman (whistleblower attorney) (35:44) Cultural Perspectives on White-Collar Crime (39:59) The Intersection of Vision and Fraud (41:27) Fraud problems in academia (44:00) The Impact of AI on Fraud Dynamics *suggested read: The Trillion Dollar Governance Reckonings (49:46) The role of directors in the stock backdating scandals "they were happy beneficiaries" (51:03) Books that have greatly influenced his life:Animal Farm by George Orwell (1945)Into Thin Air by Jon Krakauer (1997) (53:45) His mentors *discussion about the Norges Bank Investment Mgmt Fund ($2T AUM) and its ethical issues. (56:23) Quotes that she thinks of often or lives her life by. (57:10) An unusual habit or an absurd thing that she loves.  (58:08) The living person he most admires: Bill Gates. Erik Lie is the Amelia Tippie Chair in Finance and Professor at the Tippie College of Business at the University of Iowa. His new book, Catching Cheats: Everyday Forensics to Unmask Business Fraud, offers a compelling look at how forensic economics and data-driven analysis can help identify wrongdoing that remains hidden in plain sight.  You can follow Evan on social media at: X: @evanepstein LinkedIn: https://www.linkedin.com/in/epsteinevan/  Substack: https://evanepstein.substack.com/ __ To support this podcast you can join as a subscriber of the Boardroom Governance Newsletter at https://evanepstein.substack.com/ __ Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License