Fraud is a problematic issue facing many businesses in Vietnam no matter which industry they operate in, their size or their ownership structure. Examples of fraudulent and/or malpractice issues that we have encountered in Vietnam are kickbacks, conflicts of interest related to procurement and contracts, related party transactions, expense claim fraud, loss of materials, cash and assets and non-adherence to contractual requirements.
Such fraudulent activities increase the cost of doing business, demoralise the workforce and require management’s attention to handle fraud allegations, financial crimes and other irregularities instead of focusing on running the business.
We have a team of 20 full time forensic accountants and technical specialists located in Vietnam, Malaysia and Thailand and over 800 full time specialists globally. The PwC Forensics network supports our clients; safeguards brand value and individual professional reputation and preserves revenue and assets. Our Forensic professionals specialise in fraud prevention, detection, investigation and remediation.
Our local team of forensic specialists offer a range of services to address the issues above:
Schematic of our fraud risk management process:
In our professional experience, controls alone are not enough as it is the organisation’s culture that makes the difference. Hence to strengthen your response to fraud, we will assist you to combine the power of controls, people and culture because:
We can assist you in designing the policies related to fraud prevention, setting the correct “tone at the top”, design the right control and management programs, assist in identifying the right resources, design whistle-blowing policies and mechanisms, and design practical frameworks to manage related party transactions and conflict of interests.