A ProEdge Financial Management Series
“China Minzhong gets ambushed by shortseller In a repeat of Olam saga, shortseller l...
KING OYSTER MUSHROOM - VICTIM OR VILLIAN
“China Minzhong gets ambushed by shortseller
In a repeat of Olam saga, shortselle...
Tommy is someone you would like to meet in person. Straight
talking, sincere, kind, helpful and without pretences, he is t...
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Financial Statement Fraud training by Tommy SEAH

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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.

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Financial Statement Fraud training by Tommy SEAH

  1. 1. A ProEdge Financial Management Series “China Minzhong gets ambushed by shortseller In a repeat of Olam saga, shortseller launches fierce attack and stock falls 48%.” - Published August 27, 2013 in The Business Times Every company maneuvers the numbers to a certain extent to achieve budgets and get bonuses. This is nothing new. But sometimes, companies take the fact- fudging 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’ eco- nomic 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 & account- ing 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. Who Should Attend This Program This is a course develop to meet the needs of corporate leaders, financial professional, ac- countants and auditors who want to fully master the complexity of detecting, responding and preventing Financial Statement Fraud. This course will provide an invaluable insight for : • CEO’s / CFO’s / COO’s / CSO’s / CIO’s / Managing Directors / Directors / GM’s • Internal Audit / Corporate Audit Managers/Officers • Credit Managers / Credit Researches / Credit Auditors / Credit Controller • Risk Management / Legal & Compliance / Regulatory Affairs Managers/Officers • Finance / Accounting / Fraud / Anti-Fraud / Human Resources Managers / Officers • Accountants & Independent/External Auditors ©ProEdgeGlobal For registration and enquiries, please contact our Program Manager KENNETH : Email : kenneth@proedgeglobal.com Tel : +603 2116 5671 Fax : +603 2116 5999 Web : www.proedgeglobal.com K n o w l e d g e i s E m p o w e r i n g Acquire Financial Analytical Skills in detecting Financial Statement Fraud A practical and hands-on training from the No.1 Fraud Buster in Asia Pacific region : 20th & 21st November 2013 Parkroyal Hotel, Kuala Lumpur Another Event Proudly Organised by ProEdge Global Sdn. Bhd. (PSMB Registered Class C Training Provider) “A last chance to acquire a Critical Quantitative Skills for this year from The BEST.” YOUR COACH : Tommy Seah FCPA, FAIA, MSID, ACIB • Certified Fraud Examiner (CFE) • Regent Emeritus, ACFE (Texas, USA) • Vice-Chairman 2006, ACFE Board of Regents • Chairperson, CSI World Headquarters • World Class Financial Mgt. Expert • Double Firsts in Financial Management and Accountancy (U.K.) • Chartered Banker, International Accountant, Auditor, Investigator • Member of Advisory Board to SOX Institute (N.Y.)
  2. 2. KING OYSTER MUSHROOM - VICTIM OR VILLIAN “China Minzhong gets ambushed by shortseller In a repeat of Olam saga, shortseller launches fierce attack and stock falls 48%.” Program Outline: Day 2 Financial Statement Fraud www.proedgeglobal.com Program Outline: Day 1 UNDERSTANDING FINANCIAL STATEMENT FRAUD • Financial Statement Fraud Defined • Key Elements of Financial Statements • Financial Statement Manipulation • The True Cost of Fraud and It’s Impact • Lessons Learned, a Case Study: Analysis of famous Cases THE FRAUD TRIANGLE - THE THREE FACTORS PRESENT IN ORGANISATION THAT ALLOW FRAUD TO OCCUR • Incentive/Pressure • Opportunities • Attitudes/Rationalization • Profiles of a Financial Statement Fraudster THE ANATOMY OF FINANCIAL STATEMENT FRAUD • Utilize Aggressive Reserves • Delay/alter Expense Recognition • Accelerate Revenue Recognition • Exploit Acquisition Reserves • Make Unsupportable Entries • Fabricate Additional Revenues ANALYSIS OF COMMON FRAUD EXAMPLES AND HOW TO DETECT POTENTIAL WARNING SIGNS • “Refreshed” Receivables • Misstatement Of Expenses • Sales of Development Stage Products • Management Disclosure & Analysis Fraud • Channel Stuffing • Misdated Transactions • Misstatement Of Asset Value & Liabilities • Moving Inventory Between Locations • Fraudulent Audit Confirmations • Off Balance Sheet Liabilities • Improper Revenue Recognition Are “Certified” accounts reliable for Decision Making? • A Case Study • Problems of Current Reporting Practices • Financial Reporting WORST Practices 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. A Case Study on Financial Statement Fraud. Guided by the workshop leader, this session enables participants to apply quantitative analysis skill to de- tect & prevent fraud practices in the case study given. “ Singapore-listed China Minzhong dived after short seller Glaucus accused the Chinese vegetable firm of accounting irregularities.” DETECTING CREATIVE ACCOUNTING PRACTICE • Detecting Fictitious Revenues • Detecting Misreported Asset & Liabilities • Identifying the ‘Red Flags’ and Anomalies in Financial Statement • Using Operating Cash Flow to Detect Creative Accounting Practices PREVENT AND DETECT FINANCIAL STATEMENT FRAUD • Tools and Techniques to Combat Financial Statement Fraud • What to Do When You’ve Discovered a Serious Financial Fraud • Proactive Forensic Data Analysis • How to Protect Your Organisation from Financial Statement Fraud FRAUD INVESTIGATION IN ACTION : WHAT EXPERTS DO • Fraud Audit vs Fraud Investigation • Fundamentals of Financial Statement Audit • Internal Investigation Protocols • Mistakes Investigators Make in Conducting Fraud Investigations DIGITAL FORENSICS TO AID FINANCIAL STATEMENT RECONSTRUCTION • What you must NOT DO when you are tasked to investigate a Computer Related Crime • The need to understand the REAL difference between Data Analytics and Digital Forensics • Where to get help if System Records are Deleted and files gone missing overnight? ■ Special : Fraud ‘Burning Questions’ Session In this interactive ‘Burning Questions’ session, we put the theories to the test. With the help of Tommy Seah and your though questions, let’s find out if the Powerpoint presentation matches reality. Share your biggest problem that relates to the topic of Financial Statement Fraud and Tommy will offer you his expert advice on how to deal with the situation. Learn from the Number One Fraud Buster in Asia.
  3. 3. Tommy is someone you would like to meet in person. Straight talking, sincere, kind, helpful and without pretences, he is truly a man of strong conviction and blessed with many practical talents. First and foremost, he is a World Class hands-on ac- countant. He has worked as an Accountant for some of the largest companies in the world. He is a tried and tested ac- countant with a very firm grip on financial products. Because of his grip on the subject matter, his services in providing tech- nical training is much sought after by numerous banks in the region, including Germany, Singapore, Malaysia, China, Indo- nesia, Philippines and Taiwan. He has just finished training Anti-Narcotics Officers from at least seven Asean countries. Tommy’s other professional achievements would have been the objects of envy for many of his peers. Some of the better known fact is that he is the only Chinese Singaporean that sits on the ACFE Board of Re- gents in Texas, USA. In the year 2006, his strategic manage- ment skills were put to the test and his contribution was duly acknowledged when he was elected the ACFE Board of Re- gents, Vice-Chairman. Based in Austin, Texas, ACFE is the best recognized and largest Fraud Examination Body in the world. While in Singapore, he also help founded the CSI World Head- quarters, a Digital Forensics Certification body. To this day, he is the Chairperson Emeritus for the CSI World Headquarters. His previous work experience includes systems based auditing in an American International Bank, where he was the Senior Regional Auditor responsible for the Bank’s au- dit in the Asia Pacific region. He has also held the top execu- tive 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. He covers all areas of the bank’s audit of operations and IT systems. He also has practical working experience in the Operations Department of a foreign bank. In 2005, he was appointed as Compliance Adviser to a US$25 billion Asset Management Company. In 2006 he was invited to be the FEC Adviser to a European financial institution. Tommy Seah has authored seven banking books including the F.I.G Program. The F.I.G is the authoritative and definitive text on Financial Instruments designed to be used in the world wide banking industry. This publication has received Your Coach Your Coach Tommy Seah, FCPA, FAIA, MSID, ACIB, The only Regent Emeritus of the Association• of Certified Fraud Examiners (ACFE) within the Asia Pacific Vice-Chairman 2006, ACFE Board of Regents,• (Texas, USA) World Headquarters Chairperson, CSI World Headquarters• Chartered Banker, Accountant, Auditor,• Investigator, Fraud Examiner CFE-In-Practice Integrity. Intelligence. Independence. excellent review and first class commendation from some of the most authoritative professional certification bodies and top-rated banks in the world. The other six authoritative texts are The Audit Foreign Exchange in Banks, The Control of Money Market Activities in Banks, Understanding and Audit- ing Operational Risk management, Financial Management for Banks, MCA for Banks and SWAPS in Investment Banking. His latest attempt is in the area of e-fraud and Digital Foren- sics for banks. For the past thirty years, Tommy has trained and coached more than 10,000 management staff and some of the top CFOs, CEOs, CIOs, and COOs in MNCs, banks and financial institutions in the region. In particular, his expertise in SOX 404, AML and Basel II, Solvency ll systems implementation is much sought after by many organisations. The undisputable fact is that Tommy is Number 1 and the top brand household name in Asia Pacific for non-compulsive executive training. You will want to meet him and know him not just for his tech- nical knowledge and professional achievements. In almost every instances, it is his unselfish willingness to share his in- sights on practical issues and his ability to make complicated things seem simple that the audience find inspiring and re- freshing for a change. The institutions that Tommy has trained include: Monetary Authority of Singapore, OCBC, Perwira Affin Bank, UOB, Hong Leong Finance, Malaysian Interna- tional Merchant Bankers Bhd, P.T. Indonesia Finance & Investment Co, Bursa Malaysia, United Malayan Banking Corp Bhd, TNB, Westpac Bank- ing Corp, Government Investment Corporation of Singapore, PWC, HSBC, Philip Morris, Inland Revenue Board, CIMB, Maybank, and many more.. Some Comments from Past Delegates: • “The subject matter was well presented and at a suitable pace.” - Manager, BNP Paribas • “The way the program was conducted - Lively - Able to keep one’s attention.” - Head of Internal Audit, Credit Lyonnais • “Interesting, informative and lively presentation” - Investigation Officer, Inland Revenue Board (IRB) Financial Statement Fraud www.proedgeglobal.com Disclaimer “Due to the interactive nature of the learning session, the sequence and contents of the program maybe vary accord- ing 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 major- ity of the participants. Please ensure that you understand this com- pletely 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.” 0830 Registration and Morning Coffee 0900 Morning Session Commences 1030 Refreshments & Networking Break 1045 Session Commences 1230 Networking Lunch 1330 Afternoon Session Commences 1515 Refreshments & Networking Break 1530 Session Commences 1700 Course ends CourseTimetable
  4. 4. Name : Position : Email : Name : Position : Email : Name : Position : Email : Organisation : Address : Postcode : Tel : Fax : Authorisation Name : Designation : Signature : Date: / / Invoice To (Name): Email : * Booking cannot be processed without a signature. Confirmation: Once payment has been received a receipt will be issued. If you do not receive a letter with joining details please contact our Operations Coordinator. This Course is Available for In-House If you have a number of staff in your organisation who requires training, ProEdge also offers fully customised inhouse training programmes. To find out more, please contact Kenneth on (+603) 2116 5671 or email kenneth@proedgeglobal.com for more information. Important Notice 1.Fees are inclusive of program materials, lunch, refreshments & certificate. 2.Payment Terms: Following completion and return of the registration form, full payment is required within 5 days from receipt of invoice. PLEASE NOTE: 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. Due to limited conference space, we advise early registration to avoid disappointment. 3.Cancellation/Substitution: 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. If, for any reason, ProEdge decides to cancel or postpone this coaching session, ProEdge is not responsible for covering airfare, hotel, or other travel costs incurred by clients. The conference fee will be refunded. Event programme content is subject to change without notice. 4.Copyright etc: All intellectual property rights in all materials produced or distributed by ProEdge in connection with this event is expressly reserved and any unauthorised duplication, publication or distribution is prohibited. Investment □ RM 3560 for two day workshop □ Early Bird Price - RM 3360 (RM 200 off from normal price) (Payment & registration received before 21st Oct 2013) □ Super Early Bird - RM 2960 (RM600 off from normal price) (Payment & registration received before 20th Sept 2013) □ Premier Group Discount - 15% off from normal price for 3rd participant onwards from the same company. Indemnity: Should for any reason outside the control of ProEdge, the venue or speakers change, or the event be cancelled due to an act of terrorism, extreme weather conditions or industrial action, ProEdge shall endeavour to reschedule but the client hereby indemnifies and holds ProEdge harmless from and against any and all costs, damag- es and expenses, including attorneys fees, which are incurred by the client. The construction, validity and performance of this Agreement shall be governed in all respects by the laws of Malaysia to the exclusive jurisdiction of whose Courts the Parties hereby agree to submit. Please Complete This Registration Form And Fax It Back To KENNETH on +603 2116 5999 Our Address ProEdge Global Sdn. Bhd. Suite 33-01, 33rd Floor, Menara Keck Seng, 203, Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia. Payment Method Payment is required within 5 working days upon receipt of invoice Cheque: Made payable to ProEdge Global Sdn. Bhd. Bank Transfer: ProEdge Global Sdn. Bhd. CIMB Bank, The Curve, Mutiara Damansara Branch Account number: 1246-0000-4621-01 Please quote our invoice No. How To Register Contact ProEdge Global on Tel: +603 2116 5671 or +6016 338 9783 Fax: +603 2116 5999 Email: kenneth@proedgeglobal.com OR brenda@proedgeglobal.com Workshop Information Date : 20th & 21st November 2013 Venue : Parkroyal Hotel, Jalan Sultan Ismail, Kuala Lumpur, Malaysia BOOKING REFERENCE: kEn 3909T Sales Contract ©CopyrightProEdgeGlobalLtd.2013ProEdgereservetherighttoalterprogram&speakerdetails. www.proedgeglobal.comAquire Financial Analytical Skills in detecting Financial Statement Fraud

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