The Department of Accountancy of the University of Kelaniya will host the 5th International Conference for Accounting Researchers and Educators (ICARE 2019) under the theme of “Forensic Accounting for Good Governance”, today.( December 20, 2019 ) at the Auditorium of Faculty of Commerce and Management Studies, University of Kelaniya.
The Keynote speaker for the conference is Jagath Perera, President of CA Sri Lanka. The conference would be chaired by Dr. U.L.T.P.Gunasekara, Senior Lecturer of Department of Accountancy, University of Kelaniya and the Secretary to the conference is Kaushalya Silva, Lecturer of Department of Accountancy, University of Kelaniya.This event is graced bythe participation of Senior Prof. DissaBandara, Professor in Finance, University of Sri Jayewardenepura, D.M. Rupasinghe, Director, Financial Intelligence Unit,Central Bank of Sri Lanka, Dhammika Priyantha, DIG-CID, Police Academy and Prasanna Balachnadran, Chief Risk & Control Officer, Hemas Holding PLC.
The Department of Accountancy is one of the leading departments in the Faculty of Commerce and Management Studies, University of Kelaniya. At present, the department offers the Bachelor of Business Management (Special) Degree in Accountancy, Master of Business in Accounting/Finance Degree and Higher Diploma in Business Accounting. The Department of Accountancy is committed to pursue excellence in academics and research in management discipline with the strength of academically and professionally qualified staff.
There are millions of businesses and government organizationsoperating throughout the world and every oneof them, in some way, is vulnerable or potentiallyvulnerable to fraud committed by their employees.Most of those employees will never steal or abusethe trust that has been placed in them, but the oneswho do can cause enormous damage. Association of Certified Fraud Examiners (ACFE) estimated that organizations lose 5% of their annual revenues to fraud in their Journal, Report to Nations, 2018.Of the three primary categories of occupational fraud, asset misappropriations are by far the most common, occurring in 89% of the cases in the study Report to Nations 2018.
However, they are also the least costly, causing a median loss of USD 114,000. Corruption schemes are the next most common form of occupational fraud; 38% of the cases in that study involved some form of corrupt act. These schemes resulted in a median loss to the victim organizations of USD 250,000. The least common and most costly form of occupational fraud is financial statement fraud, which occurred in 10% of the cases and caused a median loss of USD 800,000.
Thus, the ICARE magazine brings optimal output consisting contemporary topics relating to the theme of “Forensic Accounting for Good Governance” representing practical overviews from renowned professional institutes, regulatory bodies and audit firms.
0 comments: