ERM, Fraud & Audit by TOMMY SEAH in Bangkok July 2009

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Information about ERM, Fraud & Audit by TOMMY SEAH in Bangkok July 2009

Published on January 17, 2009

Author: CSISlideShare



TOMMY SEAH will be in Bangkok on the 21st and 22nd JULY 2009 conducting ERM, FRAUD & AUDIT Seminar- Is it time to train the BIG 4 before they are no more ?

ERM, FRAUD AND AUDIT 21st and 22nd July 2009 A CSI CPE Is it time to train the auditors ? recognized program Audit Strategies for Corporate fraud costs businesses hundreds of millions of dollars each year. It affects livelihoods and is a common cause of Detecting Corporate corporate failure. It is the responsibility of the board of directors to Fraud prevent fraud by putting in places the appropriate controls and ● Using personal profiling to detect review procedures. This program shows you why Accounting computer fraud Information System (AIS) Threats are ever increasing. Control risks have also increased in the last few years because y Where f Wh fraud can occur d there are computers and servers everywhere, and information is ● Identifying threats, types of available to an unprecedented number of workers. fraud. 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 Skill sets for detecting AIS value driven ERM, things should be under control. Recent events at (Financial Statement SATYAM proves that in reality things are getting out of control. So, Fraud) what went wrong ? Is it time to train the auditors ? Fundamentals of Data Theft ● Surveillance The many GOOD reasons to attend this workshop ● SATYAM High Profile Fraud ● National Kidney Foundation ● How can it happen? ● Enron ● WorldCom Digital Evidence to deter ● Lehman Brothers Fraud ● Adelphi ● An introduction to the Digital ● Transmile Forensic Concepts ● Sanlu (Tainted Milk Company) Tommy is someone that you would like to meet and to know. Straight talking, sincere, kind, h l f l d ith t t ki d helpful and without pretences, he is truly a man of strong conviction and blessed hitl ft i ti d bl d with many practical talents. First and foremost, he is a World Class hands-on accountant He has worked as an Accountant for some of the largest companies in the world. He is a tried and tested accountant with a very firm grip on financial products. Because of his grip on the subject matter, his services in providing technical training is much sought after by numerous banks in the region, including Germany, Singapore, Malaysia, China, Indonesia, Philippines and Taiwan. 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 Singaporean that sits on the ACFE Board of Regents in Texas USA Texas, USA. In the year 2006, his strategic management skills were put to the test and his contribution was duly acknowledged when he was elected the ACFE Board of Regents, Vice-Chairman. Based in Austin, Texas, ACFE is the best recognised and largest Fraud Examination Body in the world. While in Singapore, he also help founded the CSI World Headquarters, a Digital Forensics Certification body. To this day, he is the Chairperson Tommy Seah, Certified Fraud Examiner Emeritus for the CSI World Headquarters. His previous work experience includes World Class Financial Management systems based auditing in an American International Bank, where he was the Senior Expert Regional Auditor responsible for the Bank s audit in the Asia Pacific region. He has also Bank's region Double Firsts in Financial Management held the top executive position of Chief of Internal Audit in a prime offshore bank where and Accountancy (U.K.) Chartered Banker, International his audit duties cover the Singapore and Hong Kong operations of the bank. He covers Accountant, FCPA (USA), CSOXP all areas of the bank's audit of operations and IT systems. He also has hands-on Member of Advisory Board to SOX practical consulting work experience in many different global AAA financial institutions. Institute (N.Y.) Copyright © 2008 CFE-In-Practice

Day One (21st July 2009) ERM, Fraud and Audit Prevention Is Better Than Cure Day One AS TODAY'S COMPANIES PLAN THEIR RISK management strategies, the massive 09:00 Understanding Fraud Detection bankruptcies and colossal shareholder losses of • Principles of fraud the last two years are undoubtedly on the minds • Costs to the organization of corporate stakeholders. Numerous risk- • Ethical considerations related issues have surfaced as a result of the • Audit’s fraud responsibilities • Skills successful fraud auditors need scandals at companies such as Enron and WorldCom, leaving many shareholders, 10:00 Audit Strategies for Detecting Fraud executives, ti and d boards b d wondering di what ht • How to incorporate fraud detection into exposures their own organizations may face. your audit program? The current risk environment can best be • Specific audit steps designed to detect characterized by the oft-repeated dictum, quot;There fraud • Using ERM to identify fraud indicators are knowns, known unknowns, and unknown unknowns.quot; Morning Coffee Break Within this climate of ever-increasing corporate ever increasing 10.30 10 30 Where Fraud Can Occur in Your uncertainty, enterprise risk management (ERM) 11:00 Organization has emerged as a new paradigm for managing • Traits of those who commit fraud risk. Instead of relying on a traditional, intra- • Types of frauds: embezzlement, bribery, departmental strategy, where each area of the corruption, and fraudulent disbursements organization manages its own risks, ERM adopts Conducting Interviews within the a broader perspective that integrates and 12:00 Fraud Audit coordinates risk management across the entire • Using Kinetics to spot deception: organization. This enterprise wide approach is interpreting body language ultimately intended to enhance and protect • Interviewing dos and don’ts stakeholder value. ERM, however, does more •Who should conduct the interview? than just integrate risk management. According Networking Lunch to Enterprise Risk Management Framework, a 12:45 12 45 new study being developed by The Committee of Recap on morning session Sponsoring Organizations of the Treadway 14:00 Conducting the Internal Investigation Commission, ERM is a process also designed to 14:15 • Gathering the right evidence for your case quot;identify potential events that may affect the • Avoiding some of the legal pitfalls entity, and manage risk to be within its risk Afternoon Coffee Break appetite, to provide reasonable assurance 15:00 regarding th achievement of entity objectives.quot; di the hi tf tit bj ti quot; Writing the Fraud Audit Report so It Paralleling the rise of ERM, internal auditing has 15:30 Gets Read also experienced a paradigm shift in recent • Report content • Ensuring the audit process leads to the years. Guided largely by The IIA's revised audit report definition of the profession, internal auditing • Areas to consider when writing the fraud has moved from a control-based approach to finding g one that focuses on risk management corporate management, governance, and adding value. quot;Please note that the General Discussion & Question Session teaching methodology is participative lectures and as 16:00 Day One Close such inter-active in nature that will involves participation 17:00 from attendees. So, notwithstanding the proposed outline, the program may not necessarily be conducted in exactly the same sequence or duration for each topicquot;.

Day Two ( 22nd July 2009) ERM, Fraud & Internal Audit Diagnosis of your organization's ERM Day Two The U.S. Chamber of Commerce reports that $50 billion 09:00 Recap on Day 1 do s e os dollars are lost annually due to e p oyee theft and fraud. uy o employee e d ud. 09:30 Using ERM to determine Fraud-Related Also reported by The U.S. Chamber of Commerce - that Internal Controls 20% of all businesses fail due to internal theft and fraud. • Building controls around the fraud scheme • Fraud prevention controls in the According to an Ernst & Young Report, quot;White Collar expenditure cycle Crime: Loss Prevention Through Internal Controlquot; a rule of thumb says that a company loses 1% to 2% of its sales • Selling the controls to management to crime -- most committed by or in collusion with y • Fraud prevention theory employees. 10:30 Morning Coffee Break 11:00 According to K.C. Bettencourt undercover investigator ERM’s role in Financial Statement Fraud and author of quot;Theft & Drugs in the Workplacequot;, One in three employees steal and it's rising 5% a year. • Typical fraud schemes Additionally, his studies showed that 20-25% of the work • Balance and Income Statements force will cheat when the stakes are high and supervision • Using analytical review/ratio analysis to is low. Furthermore, about 10% will cheat no matter what. identify f d indicators id if fraud i di The Wall Street Journal reported that up to 75% of all 11:55 What really is ERM employees steal at least once - half of these, at lease twice. In employee surveys conducted by academics and other The CAE'S Role as ERM Champion specialists, as many as 43% of workers interviewed admitted stealing from their employers. Networking Lunch 12:30 FBI reports that employee theft is the fasting growing Recap of Day 2 morning crime in the U.S. 14:00 High Profile Frauds • What went wrong? WHY YOU SHOULD ATTEND? The course is a unique opportunity for those • Why auditors failed to detect the fraud? learn improved methods associated with fraud detection. It also showcases an interactive How Internal Audit can leverage on ERM 14:10 approach towards the needs and issues resources pertaining to Fraud Management This workshop Management. Ownership of th ERM process O hi f the also enables you to enhance your capability in 15:15 Afternoon Tea Break addressing specific issues in a demanding higher 15:30 transparency and degree of corporate Internal Audit partners ERM in providing governance. solution in Strengthening Corporate Governance WHO SHOULD ATTEND? ERM - Is it worth the effort ● Fraud Investigators/Anti-Fraud Managers ● Legal & Compliance Managers Core internal auditing roles in regard to ● Risk Management & Audit Managers ERM. ● Internal Auditors ● Financial Controllers Legitimate internal auditing roles with ● Company Secretaries safeguards. ● CIO’s, CEO’s, COO’s Day Close D 2 Cl ● E-Banking, MIS Managers ● Procurement Managers 17:00 ● IT Auditors

ERM, Fraud & Internal Audit REGISTRATION FORM & SALES CONTRACT Important Notice Registration & Payment Payments are required with registration and must be received 2 Easy Ways to Register p prior to the Program to g g guarantee y your p place. Walk-in You can return the Registration Form either via e-mail or delegates will only be admitted on the basis of space by fax. availability at the Program and with immediate full payment. Email to: Cancellations & Transfers Fax: (65) 6288 0181 If you are unable to attend, a substitute delegate is welcome at For enquires, please contact: no extra charge. Please provide the name and the title of the g p substitute delegate at least 2 days prior to the program. A refund less 10% administrative charge will be made Tel: (65) 9106 9872 cancellation received in writing 10 working days before the program date. A complete set of program documentation and In order to secure a place for the program, delegates are a 50% refund will be given for cancellation made 3 working kindly requested to register at least 4 weeks prior to days before program date. Regrettably, no refund can be program commencement. made for cancellation made on and or after program. A complete set of documentation will however be sent to you. Registration is only effected upon receipt of good funds via T/T. Regretfully, telephone bookings cannot and will The organizer reserves the right to make any amendments not be entertained or accepted. and/or changes to the programme, venue, speaker replacements and/or topics if warranted by circumstances beyond its control. WHY YOU SHOULD ATTEND? Course Fees YOU SHOULD ATTEND Closing Date: 20 June 2009 The course is a unique opportunity for those Course Fees: US$1669/- early bird registraion learn improved methods associated with fraud before 20th May 2009 detection. It also showcases an interactive approach towards the needs and issues Discounts are available for group bookings. pertaining to Fraud Management This workshop Management. Registration after 20th May, Pays US$2269/- per pax also enables you to enhance your capability in addressing specific issues in a demanding higher Please call CFE-In-Practice Hotline for further details. transparency and degree of corporate governance. Telephone : 65 6222 9861 or 65 6222 9860 WHO SHOULD ATTEND? ● Fraud Investigators/Anti-Fraud Managers ● Legal & Compliance Managers (Please note that accommodation and air-fare is not ● Risk Management & Audit Managers included in the course fees.) ● Internal Auditors An invoice will be sent upon receipt of registration form. ● Financial Controllers Payment of course fees must be received 14 working ● Company Secretaries days before commencement of the program. ● CIO’s, CEO’s, COO’s ● E-Banking, MIS Managers All T/T payment must be remitted: ● Procurement Managers DBS Bank, Shenton Way, Singapore ● IT Auditors Current A/c No. 022-900202-8 Account Name: CFE-IN-PRACTICE

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