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Tommy Seah speaks on CORRUPTION and FRAUD PREVENTION in Malaysia

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Managing Internal Fraud and Corruption in Malaysia by TOMMY SEAH

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Tommy Seah speaks on CORRUPTION and FRAUD PREVENTION in Malaysia

  1. 1. Managing Internal Investigation and Corruption
  2. 2. <ul><li>Introduction to </li></ul><ul><li>Managing Internal Investigation </li></ul><ul><li>• The different approaches of internal audit and forensic audit </li></ul><ul><li>• Internal investigation skill set requirements </li></ul><ul><li>• How to build the core competencies for </li></ul><ul><li>internal investigation, </li></ul><ul><li>• Cost of fraud to your organisation, </li></ul>
  3. 3. <ul><li>Introduction to </li></ul><ul><li>Managing Internal Investigation </li></ul><ul><li>• The difference of internal fraud and external </li></ul><ul><li>fraud, </li></ul><ul><li>• How to sell the investigative audit approach </li></ul><ul><li>to management </li></ul><ul><li>• How to apply the investigative methodology </li></ul><ul><li>• How to avoid liability by understanding the </li></ul><ul><li>legal issues involve in conducting an internal </li></ul><ul><li>investigation. </li></ul>ALF Resources
  4. 4. ALF Resources An investigation is a systematic process of gathering evidence in order to prove or disprove the validity of a set of allegations.
  5. 5. ALF Resources <ul><li>The activity: </li></ul><ul><li>is clandestine ; </li></ul><ul><li>violates the perpetrator’s fiduciary duties to the victim organization; </li></ul><ul><li>is committed for the purpose of direct or indirect financial benefit to the perpetrator ; and </li></ul><ul><li>costs the employing organization assets, revenue, or reserves. </li></ul>All fraud schemes in most companies have four key elements in common.
  6. 6. ALF Resources               The different approaches of internal audit and forensic audit differs from investigative auditing Internal audit (COSO + COBIT+ ISO… ( Broad based, 5 cycles) quite similar to “External” Audit. Forensic audit (Specific, Post event) E.g.. NKF in Singapore, St. Johns Home Investigative auditing ( suspicious, unusual activities, allegations) – Kick Backs E.g.. Money Laundering penetration Test
  7. 7. ALF Resources Where Characters Types of Fraud Fraud Can Occur in any Organization Characters of those who commit fraud Embezzlement, bribery, corruption, fraudulent disbursements and others Regardless of the kind of fraud. Awareness means knowing:
  8. 8. <ul><li>Principles of Good Administrative and Internal Investigations </li></ul><ul><li>Timely </li></ul><ul><li>Objective </li></ul><ul><li>In accordance with administrative fairness </li></ul><ul><li>and due process </li></ul><ul><li>Systematic, orderly, planned </li></ul><ul><li>Discrete </li></ul><ul><li>Confidentiality maintained </li></ul><ul><li>Sensitive information protected </li></ul><ul><li>Timely corrective action as a result </li></ul>ALF Resources
  9. 9. <ul><li>Core Competencies for </li></ul><ul><li>Fraud Investigation </li></ul><ul><li> </li></ul><ul><li>Fraud Audit Team Make-up </li></ul><ul><li>(Not just forensic accounting) </li></ul>ALF Resources
  10. 10. CFE-In-Practice ALF Resources               <ul><li>To begin with: </li></ul><ul><li>  Know the distinction between </li></ul><ul><li>  </li></ul><ul><li>Investigative audit (CSI domain) -- CPA, CFE, CIA ($$$$) </li></ul><ul><li>  </li></ul><ul><li>Litigation support - CPA and or CFE, CISA, CSI ($$$) </li></ul><ul><li>  </li></ul><ul><li>Forensic accounting - CPA and or sometimes CFE ($$) </li></ul><ul><li>Internal Audit - CPA and or CIA or CISA ($) </li></ul><ul><li>“ External” Audit - CPA ($) </li></ul><ul><li>$ - Degree of compensation </li></ul><ul><li>$ - HIGHER Degree of compensation </li></ul>Migration Path <ul><li>Accounting Forensics </li></ul><ul><li>IT Forensics </li></ul><ul><li>Digital Forensics </li></ul><ul><li>Digital Surveillance </li></ul>
  11. 11. ALF Resources To prevent means you must be aware Awareness means knowing… <ul><li>Where Fraud Can Occur in any Organization (CSI) </li></ul><ul><li>Characters of those who commit fraud (CFE) </li></ul><ul><li>Types of frauds: Corruption, Asset Misappropriation, Financial Statement Fraud (CPA, CIA, CISA) </li></ul><ul><li>Who Did It, How was it done, Where was it committed, When was it done (CSI) www.csiworldconference.com </li></ul>
  12. 12. ALF Resources               Thank you and Go Home Contact Information: Tommy Seah CFE, CSI Regent Emeritus ACFE Board of Regents, Texas, USA www.cfe-in-practice.com [email_address] Phone : + (65) 91069872
  13. 13. CERTIFIED SYSTEM INVESTIGATOR ALF Resources               About CSI C ertified S ystem I nvestigators The Digital Forensics Certification Body
  14. 14. ABOUT CSI ALF Resources               <ul><li>This is a professional industrial recognition that </li></ul><ul><li>CPAs, CFEs, CFAs, etc. seek to be certified. </li></ul><ul><li>The program enhances their ability to : </li></ul><ul><li>Handle digital/data analysis </li></ul><ul><li>Performing preliminary level of Fraud </li></ul><ul><li>investigation using IT Forensic tools </li></ul><ul><li>Stay updated with the latest and most up-to-date </li></ul><ul><li>knowledge in financial analysis within their </li></ul><ul><li>organization.     </li></ul>
  15. 15. WHY BECOME A CSI? ALF Resources               Our objective is to increase the existing pool of competent industrial practitioners who can perform to international standards through a series of structured digital forensics training programs.
  16. 16. ALF Resources               <ul><li>Special Privileges </li></ul><ul><li>Certification (CSI) </li></ul><ul><li>Free Book autograph by the author, Tommy Seah </li></ul><ul><li>Special Discounts for future workshop by ALF </li></ul><ul><li>Resources, CSI In Practice & ProEdge </li></ul>Visit : www.csiworldconference.com REGISTER NOW @ RM$2,500 ONLY Offer valid till 31 st July, 2007

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