Audit Archives - Ahmad Alagbari Chartered Accountant

30 Apr, 23

WHY (ICFR) INTERNAL CONTROL OVER FINANCIAL REPORTING IS IMPORTANT

WHY (ICFR) INTERNAL CONTROL OVER FINANCIAL REPORTING IS IMPORTANT Recently Credit Suisse Group, still reeling from significant losses tied to the 2021 collapses of Archegos Capital Management and Greensill Capital, disclosed in its annual report its internal control over financial reporting (ICFR) was “not effective” for the fiscal year ending December 2022. “Management did not […]

29 Aug, 22

DETECTING AND DETERRING ASSET MISAPPROPRIATION

What is Misappropriation of Assets? Asset misappropriation fraud involves third parties or employees in an organization who abuse their position to steal from it through fraudulent activity. It can also be known as insider fraud. Misappropriation can occur at any stage of routine business operations; before assets are recorded, while assets are being retained and […]

17 Aug, 22

SPOTLIGHT ON INVENTORY FRAUD WARNING SIGNS AND PREVENTIVE MEASURES

Inventory is one of the main targets of fraud. Some companies are more at risk than others for instance retail & manufacturing business are at high risk as inventory is typically the largest value of assets for retail and is huge portion of the asset for manufacturing businesses. However, for service companies with minimal inventory […]

15 Aug, 22

GUIDE TO SPOT INVOICE FRAUD AND ITS PREVENTION

Fraud can happen at any time and to any company. Do you know the ways to protect yourself and your business? Organizations throughout history, regardless of size, have been susceptible to some form of invoice fraud. Research reveals small and medium-sized businesses are at more risk of being targeted for invoice fraud. However, corporate giants […]

31 May, 22

Whistleblowing Benefits for Organizations

The most powerful weapon against fraud is not an algorithm or a checklist but a whistleblower.” -The Economist What Is Whistleblowing? A whistleblower is a person, who could be an employee of a company, or a government agency, disclosing information to the public or some higher authority about any wrongdoing, which could be in the […]

Audit

WHY (ICFR) INTERNAL CONTROL OVER FINANCIAL REPORTING IS IMPORTANT

DETECTING AND DETERRING ASSET MISAPPROPRIATION

SPOTLIGHT ON INVENTORY FRAUD WARNING SIGNS AND PREVENTIVE MEASURES

GUIDE TO SPOT INVOICE FRAUD AND ITS PREVENTION

Whistleblowing Benefits for Organizations

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