Keith Williamson and Chris Fordham discuss fraud trends, compliance gaps and whistle-blower protection in Hong Kong amidst the economic pressures brought on by COVID-19 in this article by China Daily.
Keith Williamson, Alvarez & Marsal's Asia head of Disputes and Investigations, warned: "Against a backdrop of companies spending less money on corporate governance and compliance, plus the restrictions managements face due to quarantines and working-from-home measures, there'll be more opportunities for these issues to develop." "Third-party external fraud, such as overbilling incomes, and management fraud, such as inflated revenues, may happen if the economic hardship situation puts pressure on the management level," Chris Fordham said, adding that it requires accounting and investigation skills and technology to detect such kinds of fraud.
https://epaper.chinadaily.com.cn/a/202005/15/WS5ebdf565a3102640f4a6332b.html
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