ERM FRAUD AUDIT

Slide 1: 

Is it time to train the auditors ? Audit Strategies for Detecting Corporate Fraud Using personal profiling to detect computer fraud Where fraud can occur Identifying threats, types of fraud. Skill sets for detecting AIS (Financial Statement Fraud) Fundamentals of Data Theft Surveillance High Profile Fraud How can it happen? Digital Evidence to deter Fraud An introduction to the Digital Forensic Concepts Copyright © 2008 CFE-In-Practice ERM, FRAUD AND AUDIT 21st and 22nd July 2009 Tommy Seah, Certified Fraud Examiner 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.) Tommy is someone that you would like to meet and to know. 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 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. 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 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 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. He covers all areas of the bank's audit of operations and IT systems. He also has hands-on practical consulting work experience in many different global AAA financial institutions. 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 ? A CSI CPE recognized program

Slide 2: 

10:00 14:00 14:15 10.30 15:00 Day One Understanding Fraud Detection • Principles of fraud • Costs to the organization • Ethical considerations • Audit’s fraud responsibilities • Skills successful fraud auditors need Audit Strategies for Detecting Fraud • How to incorporate fraud detection into your audit program? • Specific audit steps designed to detect fraud • Using ERM to identify fraud indicators Morning Coffee Break Where Fraud Can Occur in Your Organization • Traits of those who commit fraud • Types of frauds: embezzlement, bribery, corruption, and fraudulent disbursements Conducting Interviews within the Fraud Audit • Using Kinetics to spot deception: interpreting body language • Interviewing dos and don’ts •Who should conduct the interview? Networking Lunch Recap on morning session Conducting the Internal Investigation • Gathering the right evidence for your case • Avoiding some of the legal pitfalls Afternoon Coffee Break Writing the Fraud Audit Report so It Gets Read • Report content • Ensuring the audit process leads to the audit report • Areas to consider when writing the fraud finding General Discussion & Question Session Day One Close

Slide 3: 

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

Slide 4: 

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