ICASL alarms on ‘White Collar Crimes’
A program on White Collar Crime and Forensic Risk Management
organized by The Institute of Chartered Accountants of Sri Lanka (ICASL)
was held on September 7 at the Galadari Hotel.
The keynote speaker of the program was PricewaterhouseCoopers -
Australia Forensic Services - Risk and Control Solutions Partner
The objective of the program was to educate and assist risk managers
in being more proactive and vigilant towards safeguarding their
organizations against this growing hazard. The program attracted over
It was an interesting and absorbing presentation that took
participants through areas that often go unnoticed making organizations
vulnerable to fraud and mismanagement.
Some of the astounding statistics shared at the presentation revealed
that nearly 30 percent of over 3,000 participants at a PwC’s worldwide
fraud survey responded that they experienced fraud during the last 12
months; the top most figure being 71 percent in Russia.
More surprisingly, it was revealed that respondents have consistently
underestimated their future fraud exposure, signifying the magnitude of
the issue at organization level. Sujeewa Mudalige, joining the Q and A
session added some local flavour to the session sharing some of the
local examples in relation to what was discussed in the keynote