Course Detail(MP153 : Forensic Review of Financial Statements – A Non-Accounting Perspective)

MP153 : Forensic Review of Financial Statements – A Non-Accounting Perspective

7.00 CPE Hours (Others)
Classroom


**Participants are requested to bring a calculator for this session

Programme Objective
In recent years, forensics is one area where there is great demand and remains critical in the arena of corporate-related investigations, be it due diligence, money laundering, reconstruction of chain of events, etc.  Particularly with the advent of corporate failures and money laundering cases, forensic accounting and investigations skill-sets become paramount.  This seminar aims to bridge the complexity of investigations and forensics that are relevant to Investigators at-large and specifically, a layman appreciation of audited financial statements, the risk points and detection of potential red flags.  This seminar will offer practical viewpoints for both accounting and non-accounting trained professionals such as legal and compliance practitioners, investigators and enforcement officers, etc., who protect the firm from mala fide corporate clients.
 
While this is a non-technical seminar, on completion of this seminar, participants should gain a better understanding of potential risks detection where analysis of financial statements is concerned.  Also, participants can expect to take away a forensic mindset when they approach an investigation.

Programme Outline

In summary, the topics covered in the seminar will include the following:
 
1. The psychology and behaviour of the financial crimes perpetrator.

- Understanding occupational frauds: asset misappropriation, corruption and fraudulent financial statements.

2. Principles of Investigation:

- Locard’s Exchange Principle & the Risk Entry and Exit Analysis.
- Independence, Objectivity, Skepticism.

3. Differences between financial statements audit and using financial statements for forensic investigations:

- Roles and skill-set differences.

4. Understanding Red Flags:

- Recognizing common risk indicators e.g. round robin transactions, etc.
- Importance of data points.
- Types of financial accounting manipulation.

5. Recap of International Cases e.g. Hanergy scandal, etc., and lessons learnt.
6. Facilitated Case Study 1:

- Detecting anomalies in a newly incorporated company and unexplainable over-payments to corporate service providers.

7. Facilitated Case Study 2:

- Understanding changes in company’s activities, payments to suppliers, Directors’ Loans and reconciling to actual cashflows.

8. Round up & Building a Case: Gathering and Documenting Evidence.
 
Training Methodology
 
The entire session will be case-study centric with lectures, group discussions and practical exercises.
**Participants are requested to bring a calculator for this session
 
Closing for Registration
1 week before programme or until full enrolment

Intended For

While this seminar is open to a wide range of professionals, this may be of particular interest to: • Accounting & Finance Professionals who wish to identify potential fraudulent Financial Statements using a non-accounting approach • Internal and External Auditors who want to understand different perspectives to detect financial statement fraud; • Bank Compliance Investigators, Fraud Investigation Officers and/or in-house Counsels who deal with internal investigations and want to increase investigation effectiveness; • Regulatory and Law Enforcement Officers.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

27 Nov 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Chen Jee Meng

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

20 Sep 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Chen Jee Meng

Date & Time

10 Oct 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Chen Jee Meng

Date & Time

07 May 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Chen Jee Meng

Testimonial

Funding

No funding Available!

Programme Facilitator(s)


Chen Jee Meng
Director, Money Laundering Reporting Officer
Commerzbank AG Singapore Branch
 
Jee Meng has more than 20 years of experience in the banking industry and had worked in various functions from front office, middle office to back office; spanning across retail and commercial banking; audit and risk control and in the last few years, the Compliance function.  Inside and outside work, Jee Meng’s hobby lies in investigations and financial crimes.  Jee Meng stumbled into investigation in Year 2000 and remains, as his profession and outside work interests.  His financial crimes interests included tax crimes, trade financial crimes, misuse of offshore and complex structures, etc.
 
Jee Meng is a writer of banking and finance articles, published articles in major publications such as The Business Times, The Risk Management Association, LCMonitor, DCInsight, Fraud Intelligence, International Compliance Association Journal, etc.
 
He is a guest speaker in major compliance-related conferences e.g. ACAMS, the Association of Banks Singapore, Compliance & Transparency Week, etc.  And since Year 2010, Jee Meng is also a Guest Tutor for the International Compliance Training Association (ICTA), Singapore, and an Editorial Board Member of the ICTA Journal as well.
 


**Participants are requested to bring a calculator for this session

Programme Objective
In recent years, forensics is one area where there is great demand and remains critical in the arena of corporate-related investigations, be it due diligence, money laundering, reconstruction of chain of events, etc.  Particularly with the advent of corporate failures and money laundering cases, forensic accounting and investigations skill-sets become paramount.  This seminar aims to bridge the complexity of investigations and forensics that are relevant to Investigators at-large and specifically, a layman appreciation of audited financial statements, the risk points and detection of potential red flags.  This seminar will offer practical viewpoints for both accounting and non-accounting trained professionals such as legal and compliance practitioners, investigators and enforcement officers, etc., who protect the firm from mala fide corporate clients.
 
While this is a non-technical seminar, on completion of this seminar, participants should gain a better understanding of potential risks detection where analysis of financial statements is concerned.  Also, participants can expect to take away a forensic mindset when they approach an investigation.

Programme Outline

In summary, the topics covered in the seminar will include the following:
 
1. The psychology and behaviour of the financial crimes perpetrator.

- Understanding occupational frauds: asset misappropriation, corruption and fraudulent financial statements.

2. Principles of Investigation:

- Locard’s Exchange Principle & the Risk Entry and Exit Analysis.
- Independence, Objectivity, Skepticism.

3. Differences between financial statements audit and using financial statements for forensic investigations:

- Roles and skill-set differences.

4. Understanding Red Flags:

- Recognizing common risk indicators e.g. round robin transactions, etc.
- Importance of data points.
- Types of financial accounting manipulation.

5. Recap of International Cases e.g. Hanergy scandal, etc., and lessons learnt.
6. Facilitated Case Study 1:

- Detecting anomalies in a newly incorporated company and unexplainable over-payments to corporate service providers.

7. Facilitated Case Study 2:

- Understanding changes in company’s activities, payments to suppliers, Directors’ Loans and reconciling to actual cashflows.

8. Round up & Building a Case: Gathering and Documenting Evidence.
 
Training Methodology
 
The entire session will be case-study centric with lectures, group discussions and practical exercises.
**Participants are requested to bring a calculator for this session
 
Closing for Registration
1 week before programme or until full enrolment

Intended For

While this seminar is open to a wide range of professionals, this may be of particular interest to: • Accounting & Finance Professionals who wish to identify potential fraudulent Financial Statements using a non-accounting approach • Internal and External Auditors who want to understand different perspectives to detect financial statement fraud; • Bank Compliance Investigators, Fraud Investigation Officers and/or in-house Counsels who deal with internal investigations and want to increase investigation effectiveness; • Regulatory and Law Enforcement Officers.

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Chen Jee Meng
Director, Money Laundering Reporting Officer
Commerzbank AG Singapore Branch
 
Jee Meng has more than 20 years of experience in the banking industry and had worked in various functions from front office, middle office to back office; spanning across retail and commercial banking; audit and risk control and in the last few years, the Compliance function.  Inside and outside work, Jee Meng’s hobby lies in investigations and financial crimes.  Jee Meng stumbled into investigation in Year 2000 and remains, as his profession and outside work interests.  His financial crimes interests included tax crimes, trade financial crimes, misuse of offshore and complex structures, etc.
 
Jee Meng is a writer of banking and finance articles, published articles in major publications such as The Business Times, The Risk Management Association, LCMonitor, DCInsight, Fraud Intelligence, International Compliance Association Journal, etc.
 
He is a guest speaker in major compliance-related conferences e.g. ACAMS, the Association of Banks Singapore, Compliance & Transparency Week, etc.  And since Year 2010, Jee Meng is also a Guest Tutor for the International Compliance Training Association (ICTA), Singapore, and an Editorial Board Member of the ICTA Journal as well.
 


Upcoming Schedule

Date & Time

27 Nov 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

Chen Jee Meng

Venue

60 Cecil Street
ISCA House
Singapore 049709