LIBERIA: Fraud Examiners urged to be Vigilant

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In an effort to fight corruption, waste and abuse, fraud examiners have been urged to be more vigilant in overcoming the biggest menace that continues to affect all fabrics of the Liberian society.

Speaking at the start of the annual anti-fraud conference of the Certified Fraud Examiners (CFEs), Mr. Jarwo Nutah Cooper, Director of Training of the Association of Certified Fraud Examiners (ACFE), pointed out fraud examiners need to be more robust in their game of fighting against corruption, waste and abuse in society.

He said this year’s conference, which is held under the theme: “Combating fraud and corruption through increased vigilance and innovation,” aims to also train 20 CPEs to promote compliance.

Cooper reported that 2,110 cases of corruption from 133 countries reported in 2022 show that five percent of revenue of international companies has come down because of fraud.

Of this number, he pointed out that 87 percent comes from assets misappropriation, while financial statement is about nine percent.

“This shows that we need to be more vigilant and innovative in the fight against fraud and corruption. And Liberia being no exception to the international body, we need to be more vigilant as fraud examiners in Liberia. So this conference is going to help to expose us to lots of things that we are going to pick up,” he told the gathering.

“There are some of these that we are knowledgeable about but it’s the matter of refresher to grow,” Cooper added.

In remarks, the Deputy Director General for Administration at the Internal Audit Agency (IAA), Mr. Mohammed B. Korleh, stressed the significance of the training, stating that it will help CFEs to remain on top of their game.

“We need to keep advancing ourselves in the unending cycle of knowledge. This will help you to remain professional, build friendship and avoid the network of sycophants,” Deputy Director Korleh noted.

Meanwhile, the Liberia Chapter of the Association of Certified Fraud Examiners (#198) was founded in 2012 and having fulfilled all requirements set forth by the ACFE) Inc., got accredited in 2014 as a local chapter. It is an affiliate of the global body of the AFCE, Inc., which is the world’s largest anti-fraud organization and premier provider of anti-fraud training and education with global headquarters in Austin, Texas, USA.

The mission of the Liberia Chapter of the AFCE is to reduce the incidence of fraud and white-collar crime and to assist the membership in fraud detection and deterrence.

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