Case Study: Thomas Cook plc, A lesson to be learned
The oldest Travel Agent 178 years collapsed and went into administration in the UK on 23rd September 2019. It was founded in 1841 in Leicestershire by Thomas Cook a cabinet-maker. Prior to the collapse, it’s revenue was £9bn, it had 19 million customers, 22,000 staff in 16 countries. What happened? Thomas Cook which is German-owned…
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POSTED BY
Paul Wan, FCA
Singapore GDP Update – September 2019
On 13th August 2019, Singapore’s Ministry of Trade and Industry slashed it’s 2019 GDP forecast to zero to 1% -this is in contrast to the forecast of 1.5% to 2.5%. With the expected continued decline in the economy, Singapore is in a technical recession. In our earlier write up we predicted that the challenges are…
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Paul Wan, FCA
Corporate Culture goes beyond that of the CEO
Stories of corporate culture gone off the rails have become a regular feature in the headlines. From rampant sexism and bullying, falsifying of critical safety records, to underhand tactics against competitors and outright fraud, breakdowns in standards of governance inevitably lead to demands for strong action to be taken. But while companies, governments and regulators…
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POSTED BY
Wan Wei Han
Failed Corporate Governance: Handmaiden of Financial Fraud
Financial reporting frauds (also called management frauds) have become endemic, with huge losses being inflicted upon shareholders, creditors and others. Some of the most infamous frauds of the past two decades – Enron, WorldCom, Satyam, Olympus, Toshiba, and Parmalat being a small sample – have implicated the same key concerns. These include: the deviant “dark…
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POSTED BY
Barry Jay Epstein, Ph.D., CPA
Morison KSi recruits member in Taiwan
Morison KSi is pleased to announce the admission of WeTec International CPAs as a member firm in Taipei, Taiwan. Founded in 1998, WeTec International CPAs has grown to become a recognised mid-tier firm, ranked 20th in the country. Its 5 partners and 100 staff works across four offices – two in Taipei City, one in…
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