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AmCham China hosts this panel discussion on fraud prevention, investigation and the handling of commercial disputes; and the role played by human resources (HR), legal and management departments.
The recently-published 2010 global fraud study by the Association of Certified Fraud Examiners (ACFE) showed fraud continues to weigh on corporate profits around the world. According to the survey, a typical firm can expect to lose 5 percent of annual revenue to fraud. In China, uncovering corporate fraud is especially challenging due to relatively weak corporate governance standards, language barriers, lack of transparency, poor record-keeping, and the prevalence of cash in transactions.
The recently-published 2010 global fraud study by the Association of Certified Fraud Examiners (ACFE) showed fraud continues to weigh on corporate profits around the world. According to the survey, a typical firm can expect to lose 5 percent of annual revenue to fraud. In China, uncovering corporate fraud is especially challenging due to relatively weak corporate governance standards, language barriers, lack of transparency, poor record-keeping, and the prevalence of cash in transactions.
This panel will examine case studies from incidents involving multi-national companies (MNCs) in China and the lessons learned. It will focus on the roles of the human resources director, legal counsel and general manager and their appropriate responses to these situations. Jay Josef Hoenig, chief operating officer of Hill & Associates Group, and Beth Epstein, director, fraud prevention & integrity risk at Hill & Associates China, will be joined by Guo Bingna, counsel at O'Melveny & Myers LLP.
