Fraud fought from Perth

AN INTERNATIONAL program aimed at improving fraud prevention in the Asia Pacific region is being run out of Perth.

The program, run by the Australian Securities and Investments Commis-sion, Edith Cowan University and PricewaterhouseCoopers will develop and deliver corporate governance educational programs to regulatory and government officials in Indonesia, the Philippines and Vietnam.

The project is the brainchild of ASIC WA director of enforcement Stephen Howell and ECU head of school of legal studies Nara Srinivasan.

ASIC chairman Alan Cameron said poor corporate governance had been a major factor in the region’s recent economic destabilisation.

Mr Howell said the project group would initially design programs for the three countries to help develop reporting and disclosure regimes at both national and company levels.

“We will also assist in establishing laws regulating the duties of directors, defining shareholder and creditor rights and management responsibility and develop the infrastructure necessary to effectively enforce new corporate laws,” he said.