Financial malfeasance normally takes place not without showing signs of red flags. As such, are those charged with governance able to sieve out potential fiascos that are brewing? The use of financial ratios against financial statements to flag out obvious anomalies will be discussed for participants to appreciate some of the tools available. This session explains what fraud and fraud risk management are, including the fiduciary obligations of Directors to put in place fraud risk management measures to deter or curb malpractices. Actual financial fiascos reported in the media both in Malaysia and abroad will be discussed, including the possible root causes, modus operandi, and what could have been done to prevent or detect such fraudulent activities.

This programme also covers the positions taken by the Companies Act 2016, the Malaysian Code on Corporate Governance 2021, Bursa’s Listing Requirements, the Capital Markets & Services Act 2007, and Section 17A of the Malaysian Anti-Corruption Commission Act 2009 on fraud and corruption risk management. Focus will also be placed on how an organisation develops a Fraud Risk Framework to prevent and detect fraudulent activities.