One of the main areas where Plum Field Advisory (PFA) is providing services is China. As it is known in China, the risk of fraud is higher than many other countries; and there is no doubt that it would be a big disaster if any employee in an organization commits fraud. Most of the successful business organizations in the world spend time and efforts to prevent fraud incidents. However, many local and foreign business organizations, especially in China, are having a hard time to manage this risk due to not knowing what strategies should be developed or not knowing what actions to take when fraud is revealed. Therefore, PFA is concentrating on developing tools and methodologies to help clients to manage this fraud risk.

From fraud preventing through fraud investigation, PFA provides the most professional fraud consulting services for companies in China.

・Fraud Prevention
Diagnosing fraud state through interview and questionnaires

Assessing fraud risk

Developing fraud Management strategies

Increasing employees’ knowledge and awareness of fraud

Enforcing the fraud responsibilities of management

Improving employees’ ethical behaviors

Designing and conducting fraud relevant trainings

・Fraud Detection
Designing reporting hotline and red-flag mechanism

Introducing external audit

Designing and implementing fraud questionnaires

Analyzing unusual and extraordinary items

・Fraud Investigation
Formulating process of investigation

Investigating fraud cases

Drafting investigation reports

The Basic Standard for Enterprise Internal Control in China was launched in June 2008 jointly by the Chinese Ministry of Finance, the National Audit Office, the China Securities Regulatory Commission, the China Insurance Regulatory Commission, and the China Banking Regulatory Commission. Effective from 1 July 2009, it is to be enforced among listed companies, while encouraging early recruitment by other large and medium size unlisted companies. This Standard defines internal control as having five components which are control environment, risk assessment, information and communication, control activities, and monitoring.

PFA has professionals with US-SOX and J-SOX consulting experience to help companies to response to this new standard in China. We consult for

・Designing internal control structure
・Developing internal control strategies
・Documenting business processes
・Identifying Risks and controls of business processes
・Scoping internal control audit
・Testing internal controls, and
・Redesign business processes

Please let contact PFA anytime if your company is facing difficulty of executing any items lest above. We PFA would be more than happy to solve your company’s problems and provide your company with the best solutions.