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Occupational fraud happens more in private companies than their public counterparts. The Association of Certified Fraud Examiners’ 2020 Report to the Nations said that 44 percent of reported frauds occurred in private companies, 26 percent in public companies, 9 percent in nonprofits, and 21 percent in government or other entities. These numbers indicate that having a board of directors and management team that prioritize fighting fraud is crucial.

Insider threats may have been looming even before the start of the Covid-19 pandemic, but the crisis further put a corporation’s security in distress.

On Nov. 26, 2020, the Senate approved on third and final reading Senate Bill 1357, otherwise known as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill, which seeks to reduce the corporate income tax rate and rationalize the current fiscal incentives by making them time-bound, targeted and performance-based. This was done in an attempt to revitalize the slowing economy, as it is predicted that the measure will bring in more foreign investments like never before.

The coronavirus pandemic has affected about 4 million out-of-school youth in the current academic year, according to the Department of Education (DepEd). This number is expected to increase, with students unlikely to return to classrooms any time soon and magnified by schools’ apparent lack of readiness to adapt to online and blended learning.

Keeping a ship afloat means building and maintaining it using the right equipment so it could safely travel through dangerous water and reach its destination. An organization is similar to a ship. Companies range from small to big vessels, so to speak, traversing through diverse and challenging industries around the world.

As the coronavirus pandemic rages, our Facebook timelines got filled with farewell posts from beloved small restaurants. Many netizens mourned their loss, especially those hole-in-the-wall establishments in or near universities or office buildings. “Made so many memories here, you will be missed,” one netizen wrote, voicing sadness for the closure of a famous eatery on Katipunan Avenue that many students flocked to.

The Covid-19 pandemic has caused a drastic increase in fraud in different organizations. According to the “ACFE Benchmarking Report: Fraud in the wake of Covid-19,” 79 percent of its respondents say they have seen an increase in fraud as of last November, and that this is expected to rise further in 2021.

The new year always bring new hope and a new perspective. It is as if we are all bright and eager to start the year with a clean slate. For some, the new year also inspires them start a business.