INTEGRITY | ACCURACY | OBJECTIVITY


          CFE International Consultancy Group Pte Ltd
                               ...
SPECIALLY TAILORED IN-HOUSE TRAINING is now available!

                                         Tel : (65) 6222 9860 | ww...
Call today for a COMPLIMENTARY CONSULTATION! No Obligations.

      Tel : (65) 6222 9860 | Fax: (65) 6222 9865 | www.cfe-i...
The Structural Approach to Investigating Financial Statement Fraud

                                 31 July 2009, Parkroy...
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Financial Sattement Fraud, CPA, External Auditors responsibilities

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The Structural Approach to
Investigating Financial Statement
Fraud is the specialty practice
area of examiners that describes
engagements that result from
actual or anticipated disputes or
litigation. In litigation, 'Forensic'
means suitable for use in Court,
and it is to that standard and
potential outcome that fraud
examiners generally have to work.
Certified System Investigators
(CSI), Fraud Examiners (CFE) and
Forensic accountants (CPA) often
have to give expert evidence at the
eventual trial. All of the larger
accounting firms, as well as many
medium-sized and boutique firms,
have specialist forensic
accounting departments. Within
these groups, there may be further
sub-specializations: some forensic
accountants may, for example, just
specialize in insurance claims,
personal injury claims, fraud,
construction, or royalty audits.
This is where the distinction lies:
While Accounting firms do only
“Forensic Accounting” CSIs and
CFEs perform Investigations in
Financial Statement Fraud. This is
not the same thing — one is post
event, the other one is
pre-emptive.
Engagements relating to criminal
matters typically arise in the
aftermath of fraud. They frequently
involve the assessment of
accounting systems and accounts
presentation - in essence
assessing if the numbers reflect
reality. The CSI and CFE
determines whether there has
been any audit failure on the part
of the Accounting firm. This
seminar will train participants to
change from a justification mindset
to a pre-emptive mindset. It will
help them develop the capability to
render a service that can answer
the following questions, “What
have gone wrong? Could it have
been prevented in the first place?
Who is responsible for the mess?
The general idea is essentially to
prevent financial statement frauds
and when it does occur, how to
contain the damage and recognize
who is responsible for what in the
whole scheme of things.

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Financial Sattement Fraud, CPA, External Auditors responsibilities

  1. 1. INTEGRITY | ACCURACY | OBJECTIVITY CFE International Consultancy Group Pte Ltd www.cfe-icg.com Presents ONE Day Seminar On: The Structural Approach to Investigating Financial Statement Fraud 31 July 2009, Parkroyal @ Kitchener, Singapore The Structural Approach to This is where the distinction lies: have gone wrong? Could it have Investigating Financial Statement While Accounting firms do only been prevented in the first place? Introduction Fraud is the specialty practice “Forensic Accounting” CSIs and Who is responsible for the mess? area of examiners that describes CFEs perform Investigations in The general idea is essentially to engagements that result from Financial Statement Fraud. This is prevent financial statement frauds actual or anticipated disputes or not the same thing — one is post and when it does occur, how to litigation. In litigation, 'Forensic' event, the other one is contain the damage and recognize means suitable for use in Court, pre-emptive. who is responsible for what in the and it is to that standard and whole scheme of things. potential outcome that fraud Engagements relating to criminal examiners generally have to work. matters typically arise in the Led By: Certified System Investigators aftermath of fraud. They frequently Tommy Seah & Stanley Chia (CSI), Fraud Examiners (CFE) and involve the assessment of Forensic accountants (CPA) often accounting systems and accounts (Principal Trainer) (Trainer-In- Attendance) have to give expert evidence at the presentation - in essence eventual trial. All of the larger assessing if the numbers reflect accounting firms, as well as many reality. The CSI and CFE medium-sized and boutique firms, determines whether there has have specialist forensic been any audit failure on the part accounting departments. Within of the Accounting firm. This these groups, there may be further seminar will train participants to sub-specializations: some forensic change from a justification mindset accountants may, for example, just to a pre-emptive mindset. It will specialize in insurance claims, help them develop the capability to personal injury claims, fraud, render a service that can answer World Class trainers for construction, or royalty audits. the following questions, “What practising auditors Complete the registration form at Who Should Attend the back of this brochure and return External Auditors Fund Managers Accounting professionals it to us by fax @ (65) 6222 9865 Financial Investigators Internal Auditors Central Bank Examiners Financial Managers Risk Managers CFOs Forensic Accountants SC Examiners Compliance Officers Approved CPD Provider Corporate Treasurers CSI Members enjoy 8 units of CPE Credits AIA Members stand to receive 7 units of CSI World Headquarters CPD hours by attending this seminar Training Professionals Globally
  2. 2. SPECIALLY TAILORED IN-HOUSE TRAINING is now available! Tel : (65) 6222 9860 | www.cfe-icg.com | enquiry@cfe-icg.com | Course Schedule Fax: (65) 6222 9865 Introduction to financial statements Improper Asset Valuation • Accounts receivable • Definition of financial fraud and its potential • Inventory impact on any organization • Fixed assets • Financial Statement Analysis- Analytical Review Outline Outline Procedures using structural approach • Case Study – The Pan Electric Group and Improper Recording of Liabilities • Failure to record liabilities Jurong Shipyard • Changes in accounting assumptions • Is AS5 going to replace SOX 404. • Off balance sheet entities • Understand the trinity of controls- Internal Audit, Compliance and Risk Management function. • Identify roles and responsibilities of internal Inadequate Disclosures • Liability omissions auditors, public accountants, finance • Subsequent events professionals, executives and the board as it • Management fraud relates to fraudulent financial reporting • ‘Opportunity makes a thief’ and profile of a perpetrator- the fraud triangle Closing Remarks, Q&A Session • Fraud Tree- Sensitive Areas for Financial Fraud Financial Statement Fraud • Understand how the Americans satisfy SOX 404 in Financial Controls function. Refreshment • Improper Treatment of Sales and Revenue • Extreme fraudulent classifying of certain sales transactions can take a wide variety of forms, 2 Tea Breaks from fictitious and deceptive sales to booking and loan proceeds as income. • Principal sources of improper sales accounting 1 Lunch Break and revenue recognition. will be provided • Phantom customers • Conditional and consignment sales • Premature revenue recognition • Misclassifying gains Course Benefits Gain overview of financial fraud • Know the sensitive areas and weaknesses in your organization • Understand the structural approach to financial statements analysis and reporting • Master preventative and deterrence techniques • Conduct accurate vulnerability and risk assessments • Maximize the effectiveness of your Internal Controls structure • Suspect a fraud? Detect Creative Accounting by identifying warning signs, red flags and anomalies • Consult a Utilize the Fraud Spotting Ratio Analysis Certified Fraud Examiner • Equip yourself with basic investigation skills at (65) 6222 9860 or email • Perform data mining, discovery sampling and evidence gathering fraudbuster@cfe-icg.com • Important Notice “ Due to the interactive nature of the learning session, the sequence and contents of the program maybe vary according to the needs of the participants. The speaker reserves the right and the privilege to conduct the program in the manner which he thinks to be in the best interest of the majority of the participants. Please ensure that you understand this completely so as to prevent any form of unrealistic expectation and or disappointment in a public enrolment program that was not tailored to your specific need. Please inform the organizer in advance if you are not agreeable or do not completely understand the above term and we will review your enrolment accordingly. ”
  3. 3. Call today for a COMPLIMENTARY CONSULTATION! No Obligations. Tel : (65) 6222 9860 | Fax: (65) 6222 9865 | www.cfe-icg.com | enquiry@cfe-icg.com Trainer Profile Tommy Seah • The only Regent Emeritus of the Association of Certified Fraud Examiners (ACFE) within the Asia Pacific • Chairperson Emeritus of CSI World Headquarters • World Class Financial Management Expert • Double Firsts in Financial Management and Accountancy (U.K.) • Chartered Banker, International Accountant, FCPA (USA), CSOXP • Member of Advisory Board to SOX Institute (N.Y.) • Member of Singapore Institute of Directors Tommy is a Certified Fraud Examiner and a member of The Board of Regents of the Association of Certified Fraud Examiners Board based in Texas, USA. Tommy Seah is also a Fellow Member of two internationally recognized prestigious leading UK Accountancy body and an Associate of The Australian National Institute of Accountants. Additionally, he holds professional graduate diplomas from two Banking Institutes including the prestigious Chartered Institute of Bankers (UK). His Accountancy qualification is in one of five statutorily recognised qualifying bodies (RQBs) in the United Kingdom for company auditors under the Companies Act 1989. Tommy’s services in providing technical training and consultancy in AML and Basel II systems implementation is much sought after by numerous banks in the region, including Singapore, Malaysia, China, Indonesia, Brunei, Thailand, Philippines and Taiwan. Tommy's previous experience includes systems based auditing in an American International Bank, where he was the Senior Regional Auditor responsible for the Bank's audit in the Asia Pacific region. He has also held the top executive position of Chief of Internal Audit in a prime offshore bank where his audit duties cover the Singapore and Hong Kong operations of the bank. His brief covers all areas of the bank's audit of operations and IT systems. Prior to this, he was Head of Operations of a foreign bank. For the past thirty years, Tommy has trained numerous bank auditors and consulted by numerous lawyers in the region. Financial Instruments, Foreign Exchange, Money Market Options, Derivatives and Swaps are his special interests. He devotes a substantial portion of his time in research work and is presently available on retainer to selected established banks for loss prevention consultancy. Today, he is still very much a hands-on accountant, auditor, investigator and SOX 404 Compliance examiner. Trainer-In-Attendance Stanley Chia • Certified Fraud Examiner (CFE) with the Association of Certified Fraud Examiners (ACFE) • Certified Member (CAMS) with Association of Certified Anti-Money Laundering Specialists (ACAMS) • Certified System Investigator (CSI) with the CSI World Headquarters • Member of Australasian Compliance Institute (ACI) • Member of GRC Group New York He also holds a Master of Commerce, specializing in Business Law from The University of New South Wales. He obtained his Bachelor of Economics, majoring in Money & Banking and Accounting in 2001 from The University of Western Australia. Stanley is the Managing Director of CFE International Consulting Group Pte Ltd, a think-tank company that provides multi-consultancy solutions to companies world-wide. He specializes in investigative interviewing & profiling techniques and has handled numerous cases for both local and foreign financial institutions. He is also well versed in financial products knowledge, fraud examination techniques and compliance methodologies. Stanley has worked for large financial institutions like AIA Insurance, Singapore Exchange and United Overseas Bank where he was involved in anti-money laundering, compliance, enforcement and fraud investigation work. To date, he has investigated more than 100 fraud and compliance-related cases and some of them involved over US$1M.
  4. 4. The Structural Approach to Investigating Financial Statement Fraud 31 July 2009, Parkroyal @ Kitchener, Singapore How to Register Tel : (65) 6222 9860 Fax : (65) 6222 9865 Email : registration@cfe-icg.com Web : www.cfe-icg.com Post To: CFE International Consultancy Group Pte Ltd 6 Eu Tong Sen Street, #05-13, The Central, Singapore 059817 Participant Details Name: Dr / Mr / Mrs / Ms ______________________________________________________________________ Company Name: _____________________________ Company Designation: ________________________ Company Address: __________________________________________________________________________ Participant’s Email: __________________________ Contact Person: _________________________________ Tel No.: ____________________________________ Fax No.: _______________________________________ ..................................................................................................................................................................................... I have read and understood the booking terms & conditions. Signature_______________________________ Date___________________________ Preferred Mode of Payment Course Fee @ $650* � By Credit Card Category Discount Early Bird ** 5% � By Cheque (Please cross cheque made payable to CFE For Group of 4 or more, call us to Corporate International Consultancy Group Pte Ltd and mail your 5% (3 or more pax) find out more payment together with this registration form to the Company about our group address stated in the “How to Register” box above. ACSI (Associate) 10% discount CSI (Certified) 15% � Telegraphic Transfer (Singapore & Other Delegates) * Does not include accomodation The Hongkong and Shanghai Banking Corporation Ltd ** Early Bird Discount ends 26 June 2009 Account No.: 147-619399-001 Account Name: CFE International Consultancy Group Pte Ltd Swift Code: HSBCSGSG Important Notice IMPORTANT NOTICE: Payments are required with registration and must be received prior to the Coaching Session to guarantee your place. Walk-in delegates will only be admitted on the basis of space availability at the Coaching Session and with immediate full payment. CANCELLATIONS & TRANSFERS: If you are unable to attend, a substitute delegate is welcome at no extra charge. Please provide the name and the title of the substitute delegate at least 2 days prior to the program. A refund less 10% administrative charge will be made for cancellation received in writing 10 working days before the program date. A complete set of program documentation and a 50% refund will be given for cancellation made 3 working days before the program date. Regrettably, no refund can be made for cancellation made on and/or after the program. A complete set of documentation will however be posted to you. The organizer reserves the right to make any amendments and/or changes to the program, venue, speaker replacements and/or topics if warranted by circumstances beyond its control. DISCLAIMER: Due to the interactive nature of the learning session, the sequence and contents of the program may be vary according to the needs of the participants. The speaker reserves the right and the privilege to conduct the program in the manner which he thinks to be in the best interest of the majority of the participants. Please ensure that you understand this completely so as to prevent any form of unrealistic expectation and or disappointment in a public enrolment program that was not tailored to your specific need. Please inform the organizer in advance if you are not agreeable or do not completely understand the above term and we will cancel your enrolment accordingly. Tel : (65) 6222 9860 | Fax: (65) 6222 9865 | www.cfe-icg.com | enquiry@cfe-icg.com

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