i-CSR @ BizMalaysia

The Accounting Research Institute (ARI) has been invited by Radio Television Malaysia (RTM) to be guest of its live business news segment BizMalaysia on RTM 1.  ARI was represented by its director, Prof Dr Normah Omar and Associate Professor Dr Faizah Darus, Head of the Asia-Pacific Centre of Sustainability (APCeS).  During the fifteen-minute live telecast, Prof Dr Normah firstly introduced ARI and explained ARI's aspiration in driving its niche research agenda in the area of Islamic Financial Criminology (IFC).  Essentially, IFC centres around two main domains of Islamic Finance & Muamalat and Financial Criminology.  Then discussions were focused on promoting one particular research project, namely  i-CSR.  The i-CSR framework has been jointly developed by ARI researchers, and the project is headed by Associate Professor Dr Faizah Darus.  Premised on the principles of Maqasid, Maslahah and Dakwah,  ARI hopes to showcase i-CSR as one of Malaysia's Islamic Finance products.  Preliminary works have begun in 2011 with ARI researchers and their Indonesian counterparts - researchers from Sabelas Maret University and Universitas Mujahid organizing Muzakarah with renowned Islamic scholars in Indonesia.  Two upcoming events will be held in Kuala Lumpur where both Islamic scholars and practitioners will participate in an intellectual discourse and a workshop to finalize the draft framework.  Once the draft is ready, selected Islamic banks will pilot test the product. 

Research Cluster Publication Workshop

The Accounting Research Institute (ARI) congratulates Associate Professor Dr Zuraidah Sanusi (ARI deputy director and head of research cluster) and her team from the financial criminology research cluster for organising a successful 3-day publication workshop cum research progress presentations in Port Dickson, Negeri Sembilan.  Essentially, this cluster is currently focussing on several research projects which include fraud detection programs for internal auditors; the use of artificial intelligence in fraud detection system and  developing fraud risk indicators to investigate financial statement frauds.  The workshop has successfully finalized eight papers that would be submitted to various indexed journals.  Members of the cluster were also exposed to the use of a "user-friendly" Mendeley software (free download) by Mr. Mohd Daniel Mohd Nassir, our PhD student.  Basically, Mendeley is a bibliographic or referencing software that could be used to assist the referencing of articles in a more systematic and effective manner.  Congratulations all. 

ACFE's Asia Pacific 2012 Report to the Nations on Occupational Fraud and Abuse

The recent 2012 Report to the Nations on Occupational Fraud and Abuse  published by the Association of Certified Fraud Examiners' (ACFE) has some very interesting findings.  Specifically, for its Asia-Pacific region, the following research findings may be of interest to everyone. It is based on data compiled from a study of 338 cases of occupational fraud that occurred throughout the Asia Pacific region between January 2010 and December 2011:

• Survey respondents in the Asia-Pacific region estimate that the typical organization loses five percent of its annual revenue to fraud.
• The median loss caused by the 338 Asia-Pacific cases in our study was $300,000. This was significantly higher than the global median loss of $160,000.
• The frauds in this report lasted a median of 12 months before they were detected.
• Asset misappropriations were the most common type of occupational fraud, occurring in 80 percent of all cases. Financial statement fraud was the most expensive category, causing a median loss of $4.3 million.
• Occupational frauds were much more likely to be detected by a tip than by management review, internal audit, or any other means. Forty-three percent of all cases were detected by a tip of some kind.
• The anti-fraud controls that had the greatest impact on occupational fraud losses were surprise audits and hotlines. Both controls were associated with a loss reduction of more than 40 percent.
• Fraud losses tend to rise with the authority of the perpetrator. Occupational frauds committed by owners/executives caused a median loss of $1 million. Losses caused by managers and employees were $242,000 and $200,000, respectively.
• Seventy-six percent of occupational frauds in the Asia-Pacific region were committed by individuals working in one of five areas: sales, accounting, operations, executive/upper management and purchasing.
• Approximately 85 percent of fraud perpetrators had never been charged with or convicted of a prior criminal offense.

Book Chapter on "Researching Teaching in Higher Education"

Congratulations Prof Dr Rohana Othman, fellow of the Accounting Research Institute, for the publication of her chapter in an Action Research Book titled "Researching Teaching in Higher Education: Our Path to Surrender". The book, published by Pearson Publication is edited by Prof Fatimah Hashim.  It contains twelve chapters of real life experiences of researchers  who demonstrate their passions towards the teaching profession.  Prof Rohana, together with Dr Zainab Mohd Noor, a colleague from the Faculty of Education wrote a chapter titled "Answering the Cry for Help of Undergraduates in Theory-Based Courses".  Basically, the chapter highlights  the students' thought processes in coping with theory-based courses.  The findings noted that lecturers' approach, teamwork skills, preferred learning style and positive thinking are among the positive factors affecting students' learning.  Congratulations......