Structural Approach To Investigating Financial Statement Fraud

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

Introduction

31 July 2009, Parkroyal @ Kitchener, Singapore 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

Complete the registration form at the back of this brochure and return it to us by fax @ (65) 6222 9865

Approved CPD Provider

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.

Led By: Tommy Seah & Stanley Chia (Principal Trainer)

(Trainer-InAttendance)

World Class trainers for practising auditors

Who Should Attend Accounting professionals Central Bank Examiners CFOs Compliance Officers Corporate Treasurers

AIA Members stand to receive 7 units of CPD hours by attending this seminar

External Auditors Financial Investigators Financial Managers Forensic Accountants

Fund Managers Internal Auditors Risk Managers SC Examiners

CSI Members enjoy 8 units of CPE Credits

CSI World Headquarters Training Professionals Globally

SPECIALLY TAILORED IN-HOUSE TRAINING is now available!

Introduction to financial statements • Definition of financial fraud and its potential impact on any organization • Financial Statement Analysis- Analytical Review Procedures using structural approach • Case Study – The Pan Electric Group and Jurong Shipyard • Is AS5 going to replace SOX 404. • Understand the trinity of controls- Internal Audit, Compliance and Risk Management function. • Identify roles and responsibilities of internal auditors, public accountants, finance professionals, executives and the board as it relates to fraudulent financial reporting • ‘Opportunity makes a thief’ and profile of a perpetrator- the fraud triangle • Fraud Tree- Sensitive Areas for Financial Fraud • • •

• • • • •

Financial Statement Fraud Understand how the Americans satisfy SOX 404 in Financial Controls function. Improper Treatment of Sales and Revenue Extreme fraudulent classifying of certain sales transactions can take a wide variety of forms, from fictitious and deceptive sales to booking loan proceeds as income. Principal sources of improper sales accounting and revenue recognition. Phantom customers Conditional and consignment sales Premature revenue recognition Misclassifying gains

Outline

Outline

Course Schedule

Tel : (65) 6222 9860 | www.cfe-icg.com | [email protected] | Fax: (65) 6222 9865 Improper Asset Valuation • Accounts receivable • Inventory • Fixed assets Improper Recording of Liabilities • Failure to record liabilities • Changes in accounting assumptions • Off balance sheet entities Inadequate Disclosures • Liability omissions • Subsequent events • Management fraud Closing Remarks, Q&A Session Refreshment

2 Tea Breaks and 1 Lunch Break will be provided Interested in other courses? Download our EVENT CALENDER at

www.cfe-icg.com

Course Benefits • • • • • Suspect a fraud? • Consult a • Certified Fraud Examiner • at (65) 6222 9860 or email • [email protected] •

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 Detect Creative Accounting by identifying warning signs, red flags and anomalies Utilize the Fraud Spotting Ratio Analysis Equip yourself with basic investigation skills Perform data mining, discovery sampling and evidence gathering

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. ”

Call today for a COMPLIMENTARY CONSULTATION! No Obligations. Tel : (65) 6222 9860 | Fax: (65) 6222 9865 | www.cfe-icg.com | [email protected]

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.

The Structural Approach to Investigating Financial Statement Fraud 31 July 2009, Parkroyal @ Kitchener, Singapore

How to Register Tel Fax Email

: (65) 6222 9860 : (65) 6222 9865 : [email protected]

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:

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Course Fee @ $650* Category

5%

Corporate (3 or more pax)

5%

ACSI (Associate) CSI (Certified)

10% 15%

For Group of 4 or more, call us to find out more about our group discount

* Does not include accomodation ** Early Bird Discount ends 26 June 2009

Important Notice

Preferred Mode of Payment � By Credit Card

Discount

Early Bird **

Date___________________________

� By Cheque (Please cross cheque made payable to CFE International Consultancy Group Pte Ltd and mail your payment together with this registration form to the Company address stated in the “How to Register” box above. � Telegraphic Transfer (Singapore & Other Delegates) The Hongkong and Shanghai Banking Corporation Ltd Account No.: 147-619399-001 Account Name: CFE International Consultancy Group Pte Ltd Swift Code: HSBCSGSG

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 | [email protected]