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

SDF Funding, SkillsFuture Credit

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

18 Sep 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

1] SkillsFuture Credit (SFC)
Funding Period: Until 26 Jun 2020
Course Ref No.: CRS-N-0050430

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. The credits will not expire and periodic top-ups will be provided by the government. SFC may be accumulated to pay for skills related course fees. You may wish to use your SFC to pay for partial/full ISCA course fees.  (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for SkillsFuture Credit?”, click “Yes” and input all required information. At the Cart page, please ensure that SFC funding is applied before clicking “Checkout”.
  • Step 2: After successful enrolment, please proceed to submit SFC claim on Skillsfuture Portal within 60 days before the course start date and obtain the necessary approval. Please submit SFC claim via SFC portal here: http://www.skillsfuture.sg/credit.

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $42.80 for any revision of invoice.


2] WDA Training Grant - SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply). 

Funding Period: Until 26 Jun 2020
Funded Hours: 7 hours
Course Ref No.: CRS-N-0050430

If you wish to enrol participants with SDF Funding, please proceed with the following steps (For Corporate enrolments only) :

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for WDA Funding?”, click Yes and input all required information. At the Cart page, please ensure that SDF funding is applied before clicking “Checkout”.
     
  • Step 2: After successful enrolment, please proceed to submit the Training Grant application via SkillsConnect Portal here: https://www.skillsconnect.gov.sg/

Employers of company-sponsored participants must submit training grant via SkillsConnect system to obtain training grant for course fees. You may submit the Training Grant application within the period from 30 days before the course start date to 30 days after course start date. Please note that there will be an administrative fee of $42.80 for any revision of invoice.

Eligibility Criteria:

  • Company must be registered or incorporated in Singapore and;
  • Applicant is taking the course for the first time.
  • Applicant must be employed, and is either Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must achieve at least 75% attendance, and pass all examinations /assessments and;
  • Applicant must be fully sponsored by the Company for all costs associated with the training and;
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).

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

18 Sep 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