By: Archie Boan
The Liberia Chapter of the Association of Certified Fraud Examiners (ACFE), Chapter #198, has commenced a three-day intensive anti-fraud summit designed to sharpen the skills of professionals on the frontlines of detecting, preventing, and combating fraud across sectors.
The workshop, taking place at the Paynesville City Hall from 27 November to 2 December 2025, brings together Certified Fraud Examiners, internal and external auditors, lawyers, law enforcement officers, bankers, investigators, and compliance specialists. Key discussions focus on Integrating Fraud Risks Into Enterprise Risk Management as well as Red Flags and Fraud Schemes in Procurement and Asset Management.
ACFE Liberia President, Atty. Augustine G. Chenoway, opened the conference by underscoring the collective responsibility of participants in safeguarding integrity within their respective institutions.
He reminded attendees that each professional represents “a vital link in the chain of accountability” and that together, they form a powerful network committed to protecting trust, transparency, and ethical leadership.
Citing the 2024 Global Fraud Survey (Report to the Nations), Chenoway highlighted the global magnitude of fraud. The report examined 1,921 cases from 138 countries and estimated that organizations worldwide lose about five percent of annual revenue amounting to US$3.1 billion to fraud.
“Fraud is not merely a financial crime,” he cautioned. “It is a breach of confidence that weakens governance, erodes public trust, and shakes the very foundations of our organizations.”
He stressed that rapid technological advances and increasingly complex financial systems demand stronger vigilance and upgraded anti-fraud competencies.
Chenoway said the summit will equip participants with modern investigative tools, practical case studies, and insights into ethical leadership, governance, procurement risks, asset management, and anomaly detection. It also strengthens collaboration among anti-fraud stakeholders nationwide.
Speaking on his behalf, Jarwo Nutah Cooper, CFE, CIA, Training Director of ACFE Liberia, encouraged participants to fully engage the sessions.
“Let us leave here not only with enhanced knowledge but with renewed determination to lead with integrity and build systems that withstand the pressures of fraud and corruption,” he said.
Also addressing the gathering, the Director General of the Internal Audit Agency (IAA), David A. Kemah, underscored the importance of continuous capacity building to keep pace with emerging fraud techniques. He described training as essential in staying ahead of increasingly sophisticated criminal activity.
The Liberia Electricity Corporation (LEC) also commended ACFE Liberia for hosting the summit, noting that robust internal controls are vital to improving service delivery and public confidence.
Representing the LEC, D. Clifford M. Russell, Senior Auditor, disclosed that the corporation is undergoing a major operational shift guided by a strategic plan built on five pillars: financial sustainability, operational excellence, customer focus, governance and institutional effectiveness, and digital transformation.
“These foundational blocks not only catapult the entity but reaffirm our commitment to transparency, compliance, and good governance,” Russell asserted.
The conference continues with expert-led sessions aimed at strengthening Liberia’s collective resolve to confront fraud and enhance institutional accountability.
