College of Business invited Mr. Ahmed Alsulaimani to be part of CoB’s Executive Lecture Series. Mr. Ahmed is the Group Risk Director/Acting Compliance Officer in TAQA (Industrialization & Energy Services Company).
The lecture titled “Awareness of Facing Financial Fraud” was presented to the audience and College of Business students. It took a place on Wednesday, October 12, 2022, in the Lecture Theatre (F).
Mr. Ahmed started the lecture by distinguishing between Fraud and Corruption, where Fraud is “false representation of facts”, while Corruption is “intentional misuse of power or position”. For management to avoid a fraud in the organization, they need to know the fraud triangle (rationalization, pressure, and opportunity). Therefore, the first line of defense against the fraud is the management, then compliance and risk, then the internal audit.
Fraud includes fabrication, money laundering, misuse of funds, intentional errors, and increasing profit to get extra bonuses or decreasing it to avoid paying taxes,
The lecture is part of College of Business Executive Lecture Series. It provides Alfaisal University students and guests from the business community the opportunity to learn from some of the country’s leading executives and leaders as they talk about their experiences. College of Business sponsors the weekly Executive Lecture Series to bridge the gap between the world of leadership and business education.
