The Liberia Chapter of the Association of Certified Fraud Examiners (ACFE), Chapter #198, has commenced a three-day intensive anti-fraud summit bringing together professionals from various accountability and governance sectors to strengthen the national fight against fraud and corruption. The conference, held at the Paynesville City Hall from 27 November to 2 December 2025, is designed to refresh and enhance the expertise of Certified Fraud Examiners, internal and external auditors, lawyers, law enforcement officers, bankers, investigators, and risk and compliance practitioners.
The summit focuses on critical areas including integrating fraud risk into enterprise risk management, red flags in procurement, and fraud schemes associated with asset management. These topics form part of a broader agenda intended to equip participants with modern tools, deeper insights, and improved methodologies in detecting, preventing, and addressing fraud. Delivering the opening address, ACFE Liberia Chapter President, Atty. Augustine G. Chenoway, emphasized the shared responsibility of safeguarding accountability systems across institutions.
He reminded participants that they each represent “a vital link in the chain of accountability,” and that collective action is necessary to foster trust, transparency, and ethical leadership in both public and private sectors. Chenoway referenced the 2024 Global Fraud Survey (Report to the Nations), highlighting alarming global trends. The report documented 1,921 fraud cases across 138 countries and estimated that organizations worldwide lose nearly 5% of their annual revenue to fraud—amounting to US$3.1 billion. This loss, he noted, is not only financial but represents a deeper breach of confidence that undermines good governance and erodes public trust.
“Fraud is not merely a financial crime,” he cautioned. “It weakens the very foundations of our institutions.” With technological advancements and increasingly complex financial systems, he stressed that the responsibility to detect, prevent, and respond to fraudulent activities has never been greater. Chenoway assured participants that the workshop would expose them to cutting-edge investigative tools, real-world case studies, and best practices in ethical leadership, procurement integrity, asset protection, and anomaly detection. Beyond technical sessions, he said the gathering also aims to build stronger professional collaboration and renew the collective commitment to confronting fraud head-on.
Speaking on behalf of President Chenoway, ACFE Liberia’s Training Director, Jarwo Nutah Cooper, CFE, CIA, called on attendees to take full advantage of the training. He urged them to leave the summit not only with improved knowledge but also with “renewed determination to lead with integrity and to build systems that withstand the pressures of fraud and corruption.” The Director General of the Internal Audit Agency (IAA), David A. Kemah, reinforced the importance of capacity building within accountability institutions. He described the workshop as timely, noting that criminals continue to innovate, and auditors and investigators must remain equally dynamic to stay ahead.
The Liberia Electricity Corporation (LEC) also lauded ACFE Liberia for spearheading the initiative. Representing the corporation, Senior Auditor D. Clifford M. Russell underscored the importance of strong internal controls and a culture of accountability in boosting public confidence. He disclosed that LEC is currently undergoing major operational realignment under a strategic plan built on five key pillars: financial sustainability, operational excellence, customer focus, governance and institutional effectiveness, and digital transformation.
“These foundational blocks do not only catapult the entity, but reaffirm our commitment to transparency, compliance, and good governance,” Russell said. As the conference continues, participants are expected to engage in a series of practical and interactive sessions designed to strengthen Liberia’s collective capacity to prevent, detect, and respond to fraud an effort seen as essential to improving governance, safeguarding public resources, and restoring public confidence in national institutions.
Author: Zac T. Sherman
