Tommy Seah training A*Star in Singapore on IT AUDIT

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Tommy Seah

TOMMY SEAH training A*Star in preparation for IT Audit in Singapore

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Tommy Seah training A*Star in Singapore on IT AUDIT

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It will happen when you least expect it. There will always be allegation of fraud and employee misdemeanour. This is a perennial truth. The question that needs to be addressed is how do we go about managing such allegations. In recent years, a variety of laws and regulations have emerged in Singapore and Malaysia, providing organizations with an array of criteria to incorporate into their antifraud efforts. But for all practical purpose there is no law on managing fraud allegation. In the wake of high-profile corporate scandals as well as new regulations worldwide, many business leaders are increasingly aware of the need to create company-specific antifraud measures to address internal corporate fraud and employee misconduct. While acknowledging that no single approach to fraud risk management can fit every organizations needs, this seminar focus on key practices that organizations have generally found to be effective when tailoring a company-specific fraud allegation investigation program and offers a strategic approach to aligning corporate values with employees performance. The Federal Bureau of Investigation, financial institutions and merchants are always on the lookout for scam artists. One of the most common and unregulated industry where fraud is most prevalent and perpetrated on a daily basis is in the area of Management Consultancy. Almost every unemployed and unemployable individual calls themselves Management CONsultants. The technique to know whether you have been a victim is to examine the deliverables. Look at the concepts closely. If they cannot even get the fundamentals right, you know that it is REALLY a CONsultancy firm.

Criminal Psychology & Fraud Investigation

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Procurement Fraud - Financial Pre-Qualification

Tommy Seah

Psychology of fraud 50 pages for comment by tommy seah number one fraud buster

Tommy Seah

Every company maneuvers the numbers to a certain extent to achieve budgets and get bonuses. This is nothing new. But sometimes, companies take the factfudging too far. Factors such as greed, desperation, immorality and bad judgment drive some executives to commit financial statement fraud. As evidenced by the catastrophic collapse of numerous corporations over the past few years, financial statement fraud is a serious threat to any business’ economic well-being. The existence and persistence of financial statement fraud is by far the most expensive in terms of both absolute dollars and long term damage. Recognising the challenges that organisations are facing in combating Financial Statement Fraud, ProEdge Global is pleased to present this 2-day Workshop on Financial Statement Fraud. This will serve as an excellent opportunity to learn how best to protect your organization and step up on controls to prevent fraud. This program offers a broad overview of the different types of financial & accounting fraud while focusing on Financial Statement Fraud. Lead by a world renowned financial fraud specialist, this workshop will examine the theories and practical techniques and measures to combat Financial Statement Fraud and other financial fraud. Thus, preventing organisations from becoming the next fraud victim.

Financial Statement Fraud training by Tommy SEAH

Tommy Seah

The way to understand anything in life is to first understand the fundamental concept that is involve. For a subject like “Effective Cash Management”, the first thing to understand is the difference between liquidity and stupidity. Cash flow is the lifeblood of a company and is fundamental to its very existence. Finance professionals must understand how their decisions on investment, operations and financing lead to specific cash flow moverments within the business system. Part of the manager’s job is to maintain an appropriate balance between inflows and outflows of cash. Unfortunately, an intricate understanding of how cash flows within company eludes most business personnel.

Effective Cash Management

Tommy Seah

Enterprise FRM

Tommy Seah

Dear Delegates, Corporate fraud costs businesses hundreds of millions of dollars each year. It affects livelihoods and is a common cause of corporate failure. It is the responsibility of the board of directors to prevent fraud by putting in places the appropriate controls and review procedures. This program shows you why Accounting Information System (AIS) Threats are ever increasing. Control risks have also increased in the last few years because there are computers and servers everywhere, and information is available to an unprecedented number of workers. Distributed computer networks make data available to many users, and these networks are harder to control than centralized mainframe systems. With the introduction of 3 levels of COSO and value driven ERM, things should be under control. Recent events at SATYAM proves that in reality things are getting out of control. So, what went wrong ? Is it time to train the auditors ? Recognising the challenges that organisations are facing in combating Fraud, CSI In Practice is pleased to present this 2-days Workshop on Enterprise Fraud Risk Management. This will serve as an excellent opportunity to learn how best to conduct an internal investigation to protect your organization and step up on controls to deter fraud.

Enterprise Fraud Risk Management

Tommy Seah

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.

Financial Sattement Fraud, CPA, External Auditors responsibilities

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Improving and Implementing Internal Controls

Tommy Seah

The Reason why u need FRA Passage of the Sarbanes-Oxley Act (SOX) caused more and more companies, public and private, to assess their vulnerability to fraud and abuse. Section 404(a) of the Act requires management of public companies to assess and report on its internal financial reporting controls, largely to ensure that financial statements are fairly presented in accordance with generally accepted accounting principles (GAAP). Fraudulent financial reporting that leads to a material misstatement in the financial statements is one key risk management should assess. This assessment focuses on accounts, processes, GAAP disclosures and the assertions in the financial statements and other required disclosures. Countries in Asia do not necessarily have their own version of SOX. But they have seen the benefits in SOX in the prevention of occupational fraud. Fraud Risk Assessment is now an integral part of good corporate governance. Such assessments aren’t new. Organizations have assessed business and organizational risks for years. But fraud risk analysis has rarely been the primary focus. Times have changed, and now many companies and organizations are considering conducting specific fraud risk assessments. Prevent, Deter and Detect Fraud A fraud risk assessment is designed to examine the controls specifically created to prevent, deter and detect fraud. This assessment is fraud scheme and scenario-based. Fraud risk assessments also communicate a companywide policy of zero tolerance for fraud and abuse. To conduct an effective fraud risk assessment, follow these steps: 1. Organize and define the assessment objectives with company management and your internal audit committee. Form a team of fraud and control experts, and get senior management and audit committee buy-in: Ask them to communicate their endorsement and sponsorship of both the process and a strong antifraud program to the entire organization. 2. Determine the business and accounting process(es) to be assessed and investigated. Usually, the initial processes selected are those where fraud or abuse has previously occurred or that management has identified as critical business processes that may be susceptible to fraud or abuse. 3. Identify potential schemes and scenarios specific to the process(es) to be examined against current controls. Fraud schemes and scenarios should be selected based on the specific business process, the industry, physical location of the process operation and any known frauds or abuses concerning the process. 4. Determine the likelihood of a fraud occurring within each scheme and scenario. The Public Company Accounting Oversight Board has defined risk levels as remote, more than remote or reasonably possible, and probable. If assessing a public company, assess the risk levels in relation to SOX compliance efforts. 5. After the fraud risks for individual processes have been identified, documented, and rated as to risk level, match the controls within each process to the identified fraud risks. Determine the effectiveness of each control in preventing or providing a means of early detection for the fraud risk. Group the risks as to their probability of occurring within the process. 6. Estimate the probable loss in dollars should the fraud or abuse occur. Try to place a value on loss of reputation if that is a possible outcome. 7. Prepare recommendations for strengthening controls and present to management. Fraud Risk Assessment Benefits Some benefits of a fraud risk assessment are obvious — compliance with Sarbanes-Oxley, protection of company assets, and a possible increase in profitability due to a reduction in fraud losses, waste and abuse. But another important benefit doesn’t appear in financial statements or government filings: the enhanced reputation of a highly ethical company that supports a strong internal and external antifraud policy and program.

Fraud Risk Management - Road Show in KL, Malaysia

Tommy Seah

CreAtiNG A whiStle-BlowiNG

Tommy Seah

Dear Delegates, Purchasing fraud is on the rise. Companies today do not just face risks from internal fraud but also from external criminals who are technologically savvy. The important role on combating fraud plays in minimising financial losses is fast gaining ground. CFE-In-Practice experts is providing you with practical advice on how to “look for red flags” and symptoms of fraud. Discover why some numbers do not add up. Mitigate this fraud risk management by learning the latest strategies that can be adapted to your company. This event will also cover investigation and prevention, most importantly how to structure your business processes to minimise the risks whilst maintaining operational efficiency. Recognising the challenges that organisations are facing in combating Purchasing Fraud, CSI In Practice is pleased to present this 2-days Workshop on Understanding Procurement Fraud - Investigation & Resolution. This will serve as an excellent opportunity to learn how best to conduct an internal investigation to protect your organization and step up on controls to deter fraud.

Understanding Procurement Fraud by Tommy Seah

Tommy Seah

A Value-Added Audit On ETHICS and AUDITORS DUTIES (Assessing Organizational and Individual Ethics) By Tommy Seah World Class trainer for practicing auditors BACKGROUND 13th Aug 2009, Hotel Rendezvous, Singapore BACKGROUND The continuing influence and impact which personal and professional ethics exerts upon individuals, organizations and society, and the factors which influence organizational ethics, has been thrust into the headlines of the populous. The ethical issues faced daily by organizations and their employees are neither always straightforward nor easy to resolve. Results of unethical behavior by accounting/audit professionals, and the impact of ethics upon organizations, is a topic of growing concern in corporate board rooms around the world. This one day seminar will examine the timely and important topic of ethics and its relevance and importance to overall corporate wellbeing. In particular, what factors influence the likelihood that an individual will act ethically or less than ethical, and what this means to management, the organization, and internal controls in general. It also examines the question, if the auditors are doing all that they are suppose to do, in the manner that they are suppose to do it, why does fraud still occurs? OBJECTIVES OBJECTIVES After completing this seminar, participants will be able to: Understand SEATA and understand the interrelated nature of organizational functions and components as they relate to establishing an ethically compliant organization CFE Strategic Alliances Jointly Organized by Endorsed by Certified System Investigator CSI World Headquarters, Singapore (CSI CPE Credits: 8) CFE International Consultancy Group Private Limited Identify the role of organizational values in driving strategic goals and objectives Discover the role that personal values play in driving individual employee choices and decisions Develop an ethics assessment tool designed to evaluate an organization's compliance to stated ethics policies Pinpoint the underlying causes of patterns of unethical and/or undesired employee behavior Reduce the incidence of employee conflict between the intended change and their personal ethical standards and expectations Increase employee commitment to organizational goals and objectives

Ethics and Integrity by Tommy Seah- A Value Added Audit on Environment

Tommy Seah

Fraud Risk management

Tommy Seah

Traditionally, the practice of risk management comprises acceptance, transfer...

Tommy Seah

This course is aimed at those who wish to gain an understanding of the management techniques, concepts and practices in Foreign Exchange Management and control. This course is for you who are auditing the bank or somehow have an interest in the management and control of forex activities. It will also appeal to Backroom staff whose nature of work necessitates a good grasp of FOREX and Money Market activities. This is not a general course. It is specially tailored to suit the needs of the Bank Internal Auditors. It provides the Auditor with the necessary concepts, practice and program to conduct an FX Audit. The immediate benefit in attending this coaching session is that you get a complete Audit Programme on FOREX. Understanding the strategies for improving and managing the risk/return profile and performance of forex position is crucial for successful Treasury Management. This coaching session includes a conceptual overview of Treasury Management concepts, such as line distribution, dealer correlation and valuation of position. Key forex inputs and outputs are defined using hands-on exercises with the CFE-In-Practice™ Case Studies. This informative program covers a wide range from product knowledge, elements of risk, return and optimization, control and forex risk management. In other words, learn everything you need to know about managing a Forex department so that profit can be optimized and loss can be recognized. Too many organisation make too much profit to be lost in Forex too quickly too. That is why you need to manage your Forex department actively. OBJECTIVES AND BENEFITS IN ATTENDING On completion of the Coaching Session participants will be able to: • Understand and assess the risk and return of a Forex portfolio • Determine the most attractive exposures from a risk/return perspective • Determine the range and likelihood of future forex portfolio values; given this range and likelihood, determine how much equity or capital is required • Identify the major sources of concentration and diversification in a Forex portfolio • Assess strategies for improving performance of treasury portfolios Day One - (PRODUCT KNOWLEDGE) Is there a fundamental difference between Money Market & Foreign Exchange Market? What is a POSITION? Who controls the position in the bank? What is the best practice in the management of TREASURY LINES? How does Interest Rate Swaps and Currency Swaps work? Should your banks be involved in any of these? Case Studies and discussions. Day Two (Forex AUDIT) What is the correct audit approach? Why use the Systems based approach for forex audit? Where lies the auditor’s safety in a forex audit? What must be the FOREX audit focus? DETAIL COACHING OUTLINE • Data requirements and sources for active Forex management • Default quantification for each obligor and utilization and recovery in the event of default; and an overview of the different sources for this data • Understanding the distinction between MDDR line and FX line • Components of Forex risk • Methods of obtaining default probabilities • Requirements for internal monitoring systems • Determining quantum of loss given default in a Forex portfolio • Criteria for which Forex position will be held in a portfolio or, alternatively, sold to other investors i.e. closing out • An organization's required rate of return and its risk appetite • Policy setting and implementation; investing guidelines, monitoring performance investment tactics, position control and management • Quantification of Forex concentrations (Note: This program will describe and use the widely discussed CFE-In-Practice™ FOREX Case Studies) METHODOLOGY This coaching by a Certified Fraud Examiner consists of a lively series of short participative lectures conveyed using plain uncomplicated explanations. Learning will be facilitated through discussion and case studies. Ample coaching materials will be gi

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