Views
5 days ago

LATEST - Newsletter9_Last Correction

25 th May - 2016 ABA

25 th May - 2016 ABA Fraud workshop With the objective of spreading awareness among ABA employees on fraud issues, Adnan Suleiman, Group General Manager – Internal Audit successfully conducted the ABA Fraud Workshop on 25th May 2016 at ABA HR Training Room. The workshop was attended and participated by ABA Group’s Finance Heads. The workshop mainly talked about occupational fraud and abuse which were highlighted in the latest survey and study conducted by the Association of Certified Fraud Examiners (ACFE); and results of the survey were compiled and released through the 2016 Report to the Nations: 1- Total loss caused by the cases in the study with 35.4% of cases and a median loss of $200,000. 2- Most common detection method was “tips” (39.1% of cases). Organizations that have reporting hotlines were more likely to detect fraud through tips than organizations without hotlines (47.3% compared to 28.2%, respectively). 3- Fraud perpetrators tended to display behavioral warning signs when they were engaged in their crimes. The most common red flags were living beyond means, financial difficulties, and unusually close association with a vendor or customer, excessive control issues, a general “wheelerdealer” attitude involving Below are the winners during the Fraud Workshop Competition: Overall Champion: 1. Ahmed Abdelbaki 2. Sampath Balaji 3. Aubrey Dali 4. Munyaradzi David Matimba 5. Menino Mendes 2nd Runner-up 1. Anna Maria Ceausu 2. John Cyriac 3. M.F. Ismail 4. Vasileios Kokkinis 5. N.C. Shekar exceeded $6.3 billion, with an average loss per case of $2.7 million. Asset misappropriation was by far the most common form of occupational fraud, occurring in more than 83% of cases, but causing the smallest median loss of $125,000. Financial statement fraud was, on the other end of the spectrum, occurring in less than 10% of cases but causing a median loss of $975,000. Corruption cases fell in the middle, unscrupulous behavior, and recent divorce or family problems. At least one of these red flags was exhibited during the fraud in 78.9% of cases. The fraud workshop was filled with excitement as the Finance Heads vied for the championship during a group competition. At the end of the activity, the winning teams were awarded with medals and trophy. 15

it Happened ABA Luxury Annual staff gathering 27 th May - 2016 On Friday May 27th, 2016 around 150 members of ABA’s Luxury Team met for their annual staff gathering. On an invitation extended by the management the team met for lunch at La Cigale Hotel and prepared themselves for a funfilled afternoon. The Luxury Team staff gathering was held for the 3rd consecutive year. Apart from the opportunity to spend time together in a rel axed environment, the event included a variety of awards and gifts that were handed over to high achieving staff and others who made outstanding contributions. To kick off proceedings a welcome speech was made by Mr. Awn Zureikat, COO Luxury. Mr. Zureikat spoke not only of the achievements of the division but also of future plans. He outlined exciting plans for the opening of boutiques in 2016, 2017 and 2018 and dedicated a part of his address to encourage team development and growth. ABA Group sponsors Celebration of Italian National Day 2016 23 rd May - 2016 Ali Bin Ali Group has a proud track record of partnership with nations. We are happy to announce to the ABA family that in 2016, when the National Day of Italy came around, we stepped forward as a corporate sponsor of the event. As the Italian Embassy of Doha made preparations to celebrate the momentous occasion, the ABA Group ensured that a perfect event was in place to honour the nation of Italy, its leadership, the diplomatic corps, resident Italian expatriates and guests. The celebrations took place on Monday the 23rd of May 2016 at 7.00 p.m. at Westin Doha Hotel. The Ali Bin Ali Group offered its congratulations and felicitations to Italian Ambassador H.E Mr. Guido De Sanctis, senior officials, diplomats and other dignitaries who had gathered at the event. 24

Correction
Corrections
Correct
CORRECTIONS
Correction News
Department of Corrections
Correction News
Correction News
Correction News
the latest fad?
Correction News - North Carolina Department of Corrections
Correction News - North Carolina Department of Corrections