Highlights of the Talk in Association of Chinese Internal Auditors (ACIA) on Business Fraud
Highlights of the Talk in Association of Chinese Internal Auditors (ACIA) on Business Fraud
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On 19 July 2024, our Managing Director, Ms. Clara Tsui, was honored to be the keynote speaker at a seminar titled "Protect your business - Types of business fraud to look out", organized by the Association of Chinese Internal Auditors. This event provided a valuable platform for professionals to gain a deeper insights into the critical issue of business fraud.
Seminar Overview
During the 1.5 hours seminar, Clara shared her extensive knowledge and experience in dealing with business fraud. Her presentation covered several vital topics, including:
1. Global Loss Analysis: Clara shared important figures such as the total amount of loss worldwide and its distribution across different types of fraud. She also discussed the ways fraud is detected, the duration fraud typically lasts before being detected, and other critical statistics.
2. Types of Fraud: Clara provided real-world examples and detailed explanations of different types of business fraud, including Procurement Fraud, Payroll Fraud, Payment Fraud, and Financial Statement Fraud. These examples helped the audience understand the practical implications and manifestations of fraud in various industries.
3. Internal Control Measures: Clara discussed effective internal control measures that companies can implement to prevent and detect business fraud. She emphasized the importance of a strong control environment, regular audits, and employee training as key components in safeguarding against fraudulent activities.
Audience Engagement and Feedback
The seminar saw an impressive turnout, with over 200 professionals in attendance. The audience was highly engaged throughout the session, participating in interactive discussions and Q&A segments. Positive feedback flooded in, with attendees praising Clara's clear and insightful presentation, practical advice, and the real-life relevance of the topics covered.
Gratitude to the Organizers
We extend our heartfelt thanks to the Association of Chinese Internal Auditors for organizing this essential seminar and providing a platform for our Managing Director to share her expertise. This event not only contributed to the professional growth of the attendees but also reinforced our commitment to promoting transparency and integrity within the business community.
Looking Ahead
As we continue to address the challenges posed by business fraud, we remain dedicated to supporting our clients and the broader professional community with expert advice and practical solutions. Stay tuned for more events and initiatives aimed at fostering a deeper understanding of risk management and fraud prevention.
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