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Financial Statement Fraud by Tommy Seah in the Philippines

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If you are reading this, this course is for you. It is …

If you are reading this, this course is for you. It is
not just for accountants and auditors . It is for
anyone and everyone who is interested in the
manipulation and falsification of Financial
Statements.
The course is of particular interest to the
accounting profession, the world of finance and to
business in general.
Fraud in Financial Statements is found in almost
all countries. Asian countries and in particular
Singapore, China, Philippines and Malaysia are
not exempted from such an economic malady.
Studies have shown that financial statement
misstatements have occurred at both large and
small companies, at times causing a huge impact
on the bottom line and the share price. Financial
statement fraud causes a decrease in the market
value of a stock of approximately 500 to 1,000
times the amount of the fraud. The latest is of
course the infamous SATYAM case.

Published in: Education

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  • Lot of information is there. Presentation is good and people should aware of scam or fraud. Thanks http://www.nigerianspam.com/scam-baiting/
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  • Very informative one. You can share ideas on internet fraud in Online scam baiting forum Online internet community http://www.nigerianspam.com/scam-baiting/
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  • Though it would obviously be great if these scam for Financial Statement
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  • 1. Sound Corporate Governance series Understanding auditors’ responsibility in MANIPULATION AND FALSIFICATION OF FINANCIAL STATEMENTS 4th – 5th May 2009, InterContinental Hotel, Manila, Philippines Your opportunity to hear... Tommy SEAH and Stanley CHIA World Class trainers for practicing auditors Course Objectives - An excellent opportunity to learn how best to protect your organization and step up on controls to prevent fraud in financial statements. - To impart a detailed understanding of forensic accounting with particular emphasis on the methodologies of financial statement fraud. - To demonstrate the various aspects of fraud; i.e. fraudulent financial reporting identifying fraud schemes, including computer fraud and methods of concealment, as was the analytical techniques in uncovering fraud and its prevention through effective internal control systems. - Analyse the general technique used in working in litigation support services. Course Description If you are reading this, this course is for you. It is auditor negligence have been disclosed over the not just for accountants and auditors . It is for past few years - WorldCom/Arthur Andersen, anyone and everyone who is interested in the Xerox/KPMG, Enron/Arthur Andersen, Adelphia manipulation and falsification of Financial Communications / Deloitte & Touche, Baptist Statements. Foundation of Arizona/Arthur Andersen, just to name a few. Most responsible and diligent The course is of particular interest to the manager's major concerns would be financial accounting profession, the world of finance and to loss, damage to reputation and brand, and the business in general. effect on employee morale. Satyam is a good Fraud in Financial Statements is found in almost example how things badly things could go wrong. all countries. Asian countries and in particular The course content has also become of critical Singapore, China, Philippines and Malaysia are interest to regulators and lawmakers because of not exempted from such an economic malady. the notoriety of a series of recent financial Studies have shown that financial statement scandals that have affected the entire business misstatements have occurred at both large and community. The course will also review the new small companies, at times causing a huge impact institutional structures that have been put in place on the bottom line and the share price. Financial recently by lawmakers and the accounting statement fraud causes a decrease in the market profession to deal with fraud and its prevention, value of a stock of approximately 500 to 1,000 i.e., the Sarbanes-Oxley Act and self-regulating times the amount of the fraud. The latest is of measures adopted by the accounting profession. course the infamous SATYAM case. Numerous examples of financial statement fraud and alleged Recognizing the challenges that organizations are facing in combating Financial Statement Fraud, the event organiser is pleased to present this 2- day workshop on Manipulation and Falsification of Financial Statements
  • 2. Understanding auditors’ responsibility in MANIPULATION AND FALSIFICATION OF FINANCIAL STATEMENTS DAY TWO DAY ONE THE ANATOMY OF FINANCIAL UNDERSTANDING FINANCIAL STATEMENT STATEMENT FRAUD • Financial Statement • Utilize Aggressive Reserves • Key Elements of Financial Statements • Delay/alter Expense Recognition • Financial Statement Manipulation • Accelerate Revenue Recognition • Why do senior management falsify the • Exploit Acquisition Reserves books? • Make Unsupportable Entries • Errors vs. Irregularities • Fabricate Additional Revenues • Lessons Learned, a Case Study: Analysis of a Famous Case ANALYSIS OF COMMON FRAUD EXAMPLES AND HOW TO DETECT THE FRAUD TRIANGLE - THE THREE POTENTIAL WARNING SIGNS FACTORS PRESENT IN ORGANISATION THAT ALLOW FRAUD TO OCCUR • “Refreshed” Receivables • Misstatement Of Expenses Understanding FRAUD • Sales of Development Stage Products • Incentive/Pressure • Management Disclosure & Analysis Fraud • Opportunities • Channel Stuffing • Attitudes/Rationalization • Misdated Transactions • Profiles of a Financial Statement Fraudster • Misstatement Of Asset Value & Liabilities EVALUATING THE EXISTENCE OF FRAUD • Money Laundering • Moving Inventory Between Locations • Identifying Your Exposure to Financial • Fraudulent Audit Confirmations Statement Fraud • Off Balance Sheet Liabilities • Evaluate the Existence of Fraud Risk Factors • Improper Revenue Recognition Using SEATA™ Risk Assessment Methodology • Looking for Financial Fraud Schemes Within Your Organisation Note: This session will enable participant especially Directors and Non- Financial Senior Executives to better understand the basic accounting principles in financial statements. You will learn to recognize the information financial statements convey and how to interpret and act upon the information when reviewing financial statements. Endorsed by Jointly Organized by CFE International CFE Strategic Consultancy Group Alliances Private Limited Certified System Investigator CSI World Headquarters, Singapore
  • 3. Understanding auditors’ responsibility in MANIPULATION AND FALSIFICATION OF FINANCIAL STATEMENTS Tommy is the only Singaporean that has made a name for himself in America’s largest and world renowned Anti-Fraud Association. In 2006, he was elected by his peers in more than 100 countries to be the Vice Chairman of The Association of Certified Fraud Examiners Board of Regents based in Texas, USA. CFE is a post graduate professional qualification recognized by the FBI and USA Central Intelligence Agency in it’s recruitment of auditors for combating fraud. He is also the Chairperson of CSI World Headquarters. CSI is the only Digital Forensic Certification body that operates in Asia. A number of auditors in the United Nations and government services proudly carry the CSI designation with distinction. His services in providing anti fraud and technical product training is much sought after by numerous multinational companies, banks and governments in the region, including Tommy Seah Germany, Singapore, Malaysia, China, Indonesia, Philippines and Taiwan. Tommy's FCPA, previous work experience includes systems based auditing in an American International Regent Emeritus, Bank, where he was the Senior Regional Auditor responsible for the Bank's audit in the ACFE (Texas, USA) Asia Pacific region. He has also held the top executive position of Chief of Internal Audit Chairperson, in a prime offshore bank where his audit duties cover the Singapore and Hong Kong CSI World operations of the bank. He covers all areas of the bank's audit of operations and IT Headquarters systems. He also has practical working experience in the Operations Department of a foreign bank. Of late, Tommy has very successfully trained Anti-Narcotics Police Officers from most of the ASEAN countries. In 2008, he was awarded the privilege to train the highly skilled and intellectually superior officers from the Competition Commission of Singapore. Tommy Seah is also a prolific writer. He is the author of seven banking books including the F.I.G. Program. The FIG is the authoritative and definitive text on Financial Instruments designed to be used in the worldwide banking industry for product training. This publication has received excellent review and first class commendation from some of the most authoritative professional certification body and top rated banks in the world. The other six authoritative texts used in his training are The Foreign exchange Audit, The Control of Money Market Activities in Banks, Financial Management, MCA for Banks, SWAPS in Investment Banking and Anti-Money Laundering 101. His latest publication attempt is on Profiling and Interviewing Techniques. He has set for himself the goal to be the first Asian to write the first book in “Technology Fraud for the Banking Industry”. Stanley is both the Director & Principal Consultant of CFE Strategic Alliances, the training arm of CFE-In-Practice group of companies and also the Managing Director of CFE International Consulting Group Pte Ltd, a think-tank company that provides multi- consultancy solutions to companies worldwide. He specializes in investigative interviewing & profiling techniques and has handled numerous cases for both local and foreign financial institutions. Stanley is also the current Honorary Director, Research & Publication of CSI World Headquarters, an international accreditation body for Digital Forensic. Stanley has worked for large financial institutions like AIA Insurance, Singapore Exchange and United Stanley Chia Overseas Bank where he was involved in anti-money laundering, compliance, CFE, enforcement and fraud investigation work. To date, he has investigated more than 100 ACFE (Texas, USA) fraud and compliance-related cases and some of them involved over US$1M. CAMS, ACAMS He is well versed in financial products knowledge, fraud examination techniques and CSI, compliance methodologies. Stanley is often invited to speak at conferences and seminars CSI World Headquarters in Singapore, Malaysia, Hong Kong and Shanghai where he taught fraud investigation, investigative interviewing techniques profiling techniques and internal control. He has also co-authored a series of pocketsized guide books for auditors published by CSI World Headquarters. He is currently writing a book on Interviewing & profiling techniques – ISBN 978-981-08-0599-9.
  • 4. REGISTRATION FORM Understanding auditors’ responsibility in MANIPULATION AND FALSIFICATION OF FINANCIAL STATEMENTS 4th – 5th May 2009, InterContinental Hotel, Manila, Philippines Course Fees 1 day only: Category Discount SGD 600 (companies based in the Philippines) Early Bird ** 5% SGD 700 (companies not based in the Philippines) Corporate (3 or more pax) 5% 2 days: SGD 1100 (companies based in the Philippines) ACSI (Associate) 10% SGD 1300 (companies not based in the Philippines) CSI (Certified) 15% PAYMENT METHODS * Does not include hotel accommodation. By Cheque: ** Early Bird Discount ends 20th March 2009. Please cross cheque made payable to CFE International Consultancy Group Pte Ltd PARTICIPANT DETAILS and mail your payment together with this NAME: Dr/ Mr/ Mrs/ Ms registration form to the company address stated below in the “How to Register” box below. COMPANY DESIGNATION: Telegraphic Transfer: • Singapore & Other Delegates— COMPANY NAME: The Hongkong and Shanghai Banking Corporation Ltd Account No. : 147-619399-001 COMPANY ADDRESS: Account Name : CFE International Consultancy Group Pte Ltd Swift Code : HSBCSGSG PARTICIPANT’S EMAIL: HOW TO REGISTER ONLINE : www.cfe-icg.com TEL NO. : EMAIL : registration@cfe-icg.com TEL : (+65) 6222 9860 FAX : (+65) 6222 9865 FAX NO. : POST TO : CFE International Consultancy Group Pte Ltd CONTACT PERSON’S NAME: 6 Eu Tong Sen Street #05-13, The Central Singapore 059817 I have read and understood the booking terms & conditions CFE International Consultancy Group Signature: Date: Private Limited 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.