The role of CCC enabling risk management under COVID-19       Learning from Nidec Motor

Due to the impact of COVID-19, sales have continued to decline sharply in almost all industries except some industries. It is said that it will take 5 years to return to the state before COVID-19.

Regardless of the size of the company, the importance of corporate governance is required, but the risk of fraudulent accounting tends to increase due to the refraining from unfavorable financial status due to COVID-19 and the decrease in the frequency of face-to-face meetings and site visits, etc. 

What are practical countermeasures under COVID-19? 

The activities of Nidec Motor will be helpful.

1. CCC plays a part of fraud prevention　Shigenobu Nagamori, chairman of Nidec Motor

"Although CCC management is effective from the financial aspect, the real intention is to prevent in-house frauds. I have done various things to prevent in the past but the fraud drastically decreased after introducing CCC "

-The most common in fraud accounting is the order of inventory, accounts receivable, accounts payable

"Time is a resource equally given to all people"

is the word that Chairman Nagamori often speaks at group company workshops.

2. Nidec's velocity and thoroughness is worth sharing