In the light of the investigation into the alleged bribes fraud by GSK making use of the Chinese (faopiao) receipt system, there has been considerable focus on how to recognise false receipts.

The Corporate Treasurer carried an interview with Adrew Kan, director of Hong Kong based forensic account firm JLA Asia, on how to recognise a fake document from China and the new fapiao system reforms. His tips were:

• use the fapiao registry (there is one per province in which detail of every receipt is stored) to check the validity of the receipt
• check there are no duplicate reference numbers
• check the chop (company stamp) and signature.

Read more in the full article here.