E-alerts

Case Studies - Estate Agency Trade (29/3/2018)

In Hong Kong, the service provided by estate agency companies is of great public interest and most property transactions are brought about by the estate agents or salespersons they employ.  It is important that all estate agency companies, estate agents and salespersons work in an honest and prudent manner to protect their clients’ best interest, and the reputation of estate agency trade. 
  
The Portal has uploaded three cases on estate agency trade, namely “Solicitation/Acceptance of Illegal Commission from Clients”, “Solicitation of Illegal Commission from Subordinates” and “Diverting Business to Another Estate Agency” to the Portal.  These case scenarios are drawn up based on actual corruption cases.  Please click here to view the details. 
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Red Flags - Accounts (29/12/2017)

Accounts is a key function for every company as it systematically records and helps monitoring the funds of a company.  A sound control system in accounts assists detection of possible malpractice such as embezzlement of cash, fraudulent claims of reimbursement, etc. which may result in financial loss and increase the operational costs of a company. 
  
The Portal has newly uploaded some red flags in accounts.  These are warning signs which by themselves may not constitute cases of fraud or corruption but indicate an area where management oversight is required to safeguard against fraud and corruption.  Please click here to view the details. 
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FAQ - Offer/Acceptance of Commission

Offer/acceptance of commission as a reward for referral of business is a common commercial practice.  However, will this practice contravene the Prevention of Bribery Ordinance?
   
The Portal has newly uploaded three frequently asked questions on the topic for your better understanding on the relevant legal requirements.  Please click here to view the details.

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Corruption Prevention Toolkit for Catering Industry (30/10/2017)

In collaboration with the catering industry, the ICAC has produced a “Corruption Prevention Toolkit for Catering Industry” (the Toolkit) to assist all stakeholders to prevent corruption in the catering industry.  The Toolkit provides guidance on the key legal and probity requirements, and practical tips for corruption prevention in relation to the daily operations of the catering industry.

 The Portal has newly uploaded the full version and concise version of the Toolkit.  
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Red Flags - Inventory Management (29/9/2017)

Each and every company has to maintain a certain level of inventories.  Any pilferage, improper disposal, or mishandling of inventories results in financial loss and increases the operational costs of a company.  Valuable and high level of inventories, in particular, may easily be targeted by unscrupulous persons. 
  
The Portal has newly uploaded some red flags in inventory management.  These are warning signs which by themselves may not constitute cases of fraud or corruption but indicate an area where management oversight is required to safeguard against fraud and corruption.  Please click here to view the details. 
  
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