August 12, 2020The Financial Times reported on August 10, 2020, that more than one related party (controlled entities by NMC founder BR Shetty) obtained bank loans fraudulently and funneled these loans to NMC Health. We hope that the ongoing investigation shall reveal how the banks approved those loans. We are...
July 25, 2020Photo by Carlos César from PexelsThe International Consortium of Investigative Journalists in its “Luanda Leaks” provides an explicit example of how corruption works at the top in one of the oil-rich countries. Many studies found that there is “a positive correlation between economic dependence on natural resources and increased corruption, and...
June 23, 2020Today Sky News reported that “the former chief executive of payments firm Wirecard has been arrested amid an accounting scandal that centres on a missing €1.9bn (£1.7bn). Markus Braun had resigned on Friday after the company revealed that auditors could not find accounts containing the money.[note] Skye News,...
June 12, 2020Impacts of COVID-19 PandemicDue to the COVID-19 pandemic, we replaced the two days CACF review course and exam with a blended online CACF review course. Though, we are committed to delivering the two days CACF review course and exam “when it is possible“!Blended Online CACF Review Course We...
April 30, 2020Mike J. Masoud [note]Mike Masoud, CPA, CACM, CFE, MBA is the Sr. Director of The American Anti-Corruption Institute (AACI) in the Middle East and Africa. You may reach him at Mike@THEAACI.com[/note]Networking is always necessary for human social, economic, and political development. The information and technology revolution created all...
May 5, 2020Ernst & Young (EY) faces difficult times where its audit for specific clients are under investigation by the UK watchdog and other regulators. The following are limited relevant news that forms developing stories. May 4, 2020Watchdog investigates EY audit of scandal-hit NMC HealthMove piles further pressure on EY,...
April 30, 2020Technical StaffSince last December, the fraud and corruption red flags came out loud and clear. Since then, news reports say that many UAE banks are exposed to more than USD 4.2 billion due to suspected fraud at this healthcare provider conglomerate. On March 2, 2020, the Guardian newspaper...
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