By Cecilia Locati, FCMA, CGMA Fraudsters are becoming increasingly creative. Here’s how SMEs in the manufacturing sector can guard against losses. When we think about inventory theft, we often think of a sales assistant stealing a product from a shop stockroom or an employee carrying away items from a warehouse. Although these are common forms… Read More 5 steps to prevent complex inventory frauds
By Nicky Burridge Earlier this year, the Securities and Futures Commission issued a guidance note after being increasingly concerned that some listed companies are acquiring assets at unreasonably high prices or selling assets that are undervalued. CPAs explain to Nicky Burridge the challenges in business valuation. A Hong Kong-listed company managed to lose HK$125 million… Read More Finding true value
By David Malamed What solutions exist to improve the possibility of recouping losses, which can range from small amounts to some of staggering proportions? “In 2013 recovery auditors returned more than US$3 billion into [Medicare’s] coffers,” US publication Modern Healthcare reported in September 2014, noting that providers that appealed those audits won fewer than one… Read More Road to recovery
Ciarán Black and David O’Leary explain why Chartered Accountants should involve themselves in all stages of the innovation process. To most people, the mention of “accountancy” and “innovation” in the same sentence conjures up an incongruity at best. It doesn’t add-up, if you’ll forgive the pun! Accountants, however, are key business leaders and have long… Read More The strategy of innovation
By Ken Tysiac Telecom giant AT&T’s director of accounting discusses a few ways organisations can avoid unintended errors in financial statements. In a complex world of evolving standards and technology, there are many risks associated with financial statements. Fortunately, there are things financial executives can do to minimise the unintended errors that can lead to… Read More How to minimise financial statement risk
CIMA and Airmic have created a risk-identification framework that can help executives find peace in preparation and knowledge. Organisations can find all sorts of ways to trip themselves up. A recent CGMA survey of 1,300 executives across the world found that 60% agreed that they faced a wide array of increasing and complex risk issues.