Ramananda Prabhu, CFE appointed to the Board of ACFE Oman

!!Congratulations!!
Byndoorian CA N Ramananda Prabhu has been appointed as Treasurer and
Director-International Relations on the Board of ACFE Oman Chapter

Muscat: CA Ramananda Prabhu, CFE first Byndoorian appointed as the Treasurer and Director of International relations on the Board of ACFE Oman chapter 2023-24 (under the sponsorship of the college of banking and financial studies) and has created history in the Sultanate of Oman and India anti-fraud profession across the globe.

The Associate Certified Fraud Examiners (ACFE), Oman Chapter is run by a Board of Directors consisting of 9 elected Board members. The new Board members met recently and decided its office-bearers for 2023. Khalil Nabhan Mohammed Al Rawahi, took over as President and other office bearers are Murad Al Balushi as Vice-President, Prashant Bafna as Secretary, CA Ramananda Prabhu as Treasurer and Director-International relations, Jose Chacko, as Past President, Fathiya Al Maskari as Director-Training, Haitham Humeid Al Raisi as Director-Membership, Hassan Ahmed as Director-Media and Technology and Salim Al Mushaifri as Director at large.

CA Prabhu has made significant contributions to the accounting profession in the Sultanate of Oman, being the past Chairman of the Muscat Chapter of ICAI. He has been associated with Oman Association of Chartered Public Accountants (OACPA) since its inception in 2016 and plays guidance, support and advisory role from time to time. CA Prabhu has been at the forefront for his social and community welfare voluntary services, recently Government of Karnataka had given the “Kannada Rojyostava Award-Udupi District-2021” for his incredible contribution in the filed of social service.

CA Prabhu, Treasurer and director international relations said “Fraud, corruption and governance issues affect organizations of all sizes around the world. Due to the international nature of the current fraud landscape, it is of utmost importance for groups in all regions to work together to come up with solutions to these issues,” and also to work for the betterment of the community at large. By aligning together from the Middle East and surrounding regions, we are facilitating important conversations about the current reality of effective ways of preventing of fraud.
Praveenchandra Shetty, President Alumni Association, Govt First Grade College, Byndoor, congratulated CA Prabhu for his new role and said we will celeberate this achievement of CA Prabhu in a big way in the college, as he is our 1990 Batch Student, made all byndoorian Proud and also Proud moment for the college also. Ramesh Bhat, AGS Office Bangalore, congratulated CA Prabhu on this new appointment on the Board of ACFE, elevated as the International Leader from Byndoor, we are very happy and proud to be associate with CA Prabhu since college days at Byndoor. We wish him well for his new role and felicitate CA Prabhu at Byndoor college, when he will visit byndoor in the coming days.

According to ACFE’s latest occupational fraud 2022 report identify the factors and the toll of occupational fraud. This latest annual report explores the frauds that were investigated primarily during the global COVID pandemic. The report covered 2,110 cases from 133 countries resulting in losses of more than $3.6 billion. Based on this latest study certified fraud examiners (CFEs) estimate that organizations lose 5% of revenue to fraud annually.

The Associated Certified Fraud Examiners (ACFE), headquarters at Austin, Texas, United States, ACFE is the world’s largest anti-fraud organization and premier provider of anti-fraud training and education. Together with nearly 90,000 members, the ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession. The Oman Chapter of the ACFE was established in 2015 under a Memorandum of Understanding with the College of Banking and Financial Studies (CBFS). The main aims of the Chapter are to spread awareness about Fraud and fraud prevention and to promote the anti-fraud profession in Sultanate of Oman.