Page 719 - ACFE Fraud Reports 2009_2020

FIG. 54 What anti-fraud controls are the most common in FIG. 56 Cases by country in the
the Asia-Pacific region? Asia-Pacific region

Control Percent of cases
Country Number of cases
External audit of financial statements 93% Australia 29
Code of conduct 88% China 33
Internal audit department 84% Hong Kong 11
Management certification of financial statements 80%
Management review 78% Indonesia 36
External audit of internal controls over financial reporting 75% Japan 8
Hotline 72% Laos 1
Independent audit committee 71% Macau 19 1
Malaysia
Fraud training for employees 64% Myanmar (Burma) 1
Fraud training for managers/executives 62% New Zealand 3
Anti-fraud policy 59% Philippines 24
Employee support programs 50% Singapore 17
How does the perpetrator's level of authority relate to
Dedicated fraud department, function, or team 50% South Korea 5
occupational fraud in the Asia-Pacific region?
Formal fraud risk assessments 45% Taiwan 2
Proactive data monitoring/analysis 43% Thailand 6
Surprise audits 36% Vietnam 2
Job rotation/mandatory vacation 32%
Rewards for whistleblowers 15% Total cases: 198
Median Loss Asia-Pacific region?

FIG. 55 How does the perpetrator’s level of authority
relate to occupational fraud in the Asia-Pacific region?
45
40%
40
35%
35 MEDIAN LOSS:
PERCENT OF C A SES 25 21% usd 195,000
30

20
15
10
� � � � �
5
0 10%
Employee Manager Owner/ OF ALL CASES
executive

$73,000 198

$200,000 CASES

MEDIAN L OSS

$1,200,000
Asia-Pacific Report to the Nations 63