Course Detail(E095 : Accounting Ethics: The 36 Red Flags and Detecting Accounting Gimmicks and Fraud)

UTAP Funding

E095 : Accounting Ethics: The 36 Red Flags and Detecting Accounting Gimmicks and Fraud

14.00 CPE Hours (Category 2)
Classroom


Programme Objective

A Fun and Engaging Program to help you Identify the Danger Signs of Creative Accounting so that you may bring your organization to a higher Ethical platform by detecting such fraud  and take relevant factors into consideration in order to make Ethical decisions!

This highly interactive workshop gives you the State-of-the-Art weapons you need to identify warnings of a company’s problems before earnings come out and the damage is irreversible. You will learn the 6 categories of financial gimmicks and the 7 fundamental tricks that companies have used to mislead auditors and investors for decades and use that knowledge to boost your organization to a higher ethical platform. You will also get an update on how these financial gimmicks are being used in today’s technologically advanced, financially savvy investment world.

You will also gain first-hand knowledge and insight into the:

  • Top 10 financial scandals that rocked our world;
  • Top 10 financial fraudsters in the world; and
  • Top 10 signs that a company is in trouble … and what you should look out for.

The trainer will share with you his real life experiences, easy-to-understand examples, ‘drama time’, ‘movie time’ and plenty of illustrations to help explain how you can uncover revenue tricks, expense traps and liability scams to better assist participants to be better fraud busters and consequently, better Ethical stewards to their firms.

By the end of this workshop, you will get to know what went wrong at Lehman Brothers, AIG, Goldman Sachs, Enron, Worldcom, Barings, Arthur Anderson, Bernard Madoff Investment Securities, UBS, Olympus, China Aviation Oil, National Kidney Foundation, SIA, Asia Pacific Breweries, SLA, Ponzi schemes, S-Chips and many other notable case examples.

In addition to lecture notes and case studies, all participants attending this workshop will be given a ‘Comprehensive Checklist of Warning Signs’ and quick reference guides specially designed by the trainer which are helpful tools for use at your workplace. These items are not available for sale in the market.

 

Programme Outline


Module 1 – Sharing the US & Singapore Experience and Rogue Company Profiling

1. Story Time and Critical Thinking – “The Last Days of Lehman”
2. Hard Truths – Sharing the US and Singapore Experience and Fraud Statistics.
3. What Types of Companies are most likely to use Financial Gimmicks?
4. Top 10 Financial Scandals that Rocked the World.
5. Movie Time – “The Inside Story of a Trader Who Blew a Billion Dollars”

Module 2 – Fraudsters and the Fraud Triangle

6. Why do Financial Gimmicks Exist? Where are they most likely to Occur?
7. What is the “Fraud Triangle”? Why do Auditors Use this?
8. Practical Case Study – “The Black Hole”
9. Who are the Top 10 Financial Fraudsters in the World? Looking Inside the Mind of a Criminal.
10. Quiz Time – “Spotting a Fraudster”

Module 3 – Six Categories of Financial Gimmicks & Seven Fundamental Tricks and Techniques for Detecting Fraud to prepare participants to become Ethical stewards

11. What are the 6 Categories of Financial Gimmicks?
12. What are the 7 Fundamental Tricks that Companies use to mislead Auditors and Investors?
13. What are the Techniques for Detecting Financial Gimmicks and Fraud?
14. Drama Time – An Insight to the Collapse of a Listed Company
15. Movie Time – “Time is Money”
 
Module 4 – Financial Reporting Quality: Red Flags and Accounting Warning to equip you with the knowledge to boost your organization to a higher ethical platform

16. Motivations for Management to Manipulate Earnings and Cash Flow.
17. Identify the Accounting Tricks to Lower Earnings Quality.
18. Identify the Accounting Tricks to Manipulate Cash Flows.
19. Examples of Accounting “Warning Signs”
20. Fraud Risk Management – Who is the “Financial Guardian”?

Module 5 - Techniques for Detecting Fraud & Process to Prevent Financial Misstatements, Summary

21. Corporate Governance – A Special Edition on S-Chips
22. How can Financial Misstatements be Prevented: The 4-Pronged Attack?
23. Top 10 Signs that a Company is in Trouble.
24. Checklist – Detecting Financial Statement Fraud: What Every Manager Needs to Know
25. Recap with a Fun Quiz Game Show – “Who Wants to be a Fraud Buster?”

Why Attend this Workshop? Why this One?

The answer is communication. This workshop will help you better understand the language of forensic accounting.

The trainer is a highly experienced practitioner and instructor and is well-regarded for his ability to translate complex financial concepts into plain language, and the use of illustrations, examples and real life experiences to help develop/enhance your understanding of forensic accounting.

The trainer is able to draw on his full depth of knowledge about accounting, creativity and experience to develop compelling and enjoyable programs.

 
Training Methodology

Workshop style - Story-telling, Fun Facts, Short Case Examples, Real Life Illustrations, ‘Think Tank Time’, ‘Talk to Your Neighbour’, “It’s Drama Time”, “It’s Movie Time” with pre- and post-screening activities, and plenty of team activities such as end-of-day quiz questions (Who Wants to be a Fraud Buster) which will help reinforce the learning concepts and outcomes.

Closing Date for Registration

1 week before program or until full enrolment

Intended For

Anyone who wishes to understand the danger signs of creative accounting, and acquire the tools and techniques to spot a scam. There is no pre-requisite of financial and accounting knowledge and experience for this program.

Competency Mapping

Category 2 = 14.00 Hours

Schedule & Fees

Date & Time

09 Dec 2019 (9:00 AM - 5:00 PM)
10 Dec 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sarjit Singh

Date & Time

23 Sep 2019 (9:00 AM - 5:00 PM)
24 Sep 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sarjit Singh

Date & Time

01 Nov 2018 (9:00 AM - 5:00 PM)
02 Nov 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Sarjit Singh

Testimonial

Funding

1] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members. NTUC member gets to enjoy UTAP funding 50% of the unfunded course fee capped at $250 every year. This excludes miscellaneous fees such as GST and registration fee etc.
 
This course is approved for UTAP support for intakes conducted between 01 April 2019 – 31 March 2020.
 
As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

  • Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
  • Course by training provider must be supported under UTAP and training must commence within the supported period and;
  • Unfunded course fee must not be fully sponsored by company or other types of funding
  • Unfunded course fee must be S$20.00 and above, and;
  • Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
  • UTAP application must be made within 6 months after course ends.


To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/. Terms and conditions apply.
 
Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008

 

Programme Facilitator(s)


Sarjit Singh
FCA (Singapore), FCA (Australia)

Executive Chairman, Ardent Associates LLP

Sarjit is the Executive Chairman of Ardent Associates LLP, a firm of Chartered Accountants and the winner of the Best Practice Award at the Singapore Accountancy Awards in 2016. Ardent is a member firm of Kreston International.

Sarjit leads the Risk and Governance practice at Ardent. He has an extensive experience in a broad range of assurance and advisory services including statutory audits, corporate governance, risk assurance, internal audit, financial due diligence and regulatory advice.

Sarjit has over 25 years of multinational experience including 16 years with PricewaterhouseCoopers (PwC) where he led the audit and advisory engagements of various multinationals, public listed companies and financial institutions.

Prior to Ardent, Sarjit was the CFO of AIA Singapore and Aviva Asia. He was responsible for formulating and implementing the financial, investment and commercial strategies for AIA Singapore and Aviva's diverse businesses in Singapore, Hong Kong and the Asia Pacific region respectively.

Sarjit has served on various Singapore government-appointed committees, including the Committee on the Future Economy (CFE), Working Group on Legal and Accounting Services and the Central Provident Fund (CPF) Life Committee.

Sarjit is presently serving as the Chairman of the Singapore Accountancy Commission’s Chartered Accountancy Learning and Assessment Committee – Foundation Programme. He is also a member of the Board of Education and Examiners at the Institute of Singapore Chartered Accountants.

Sarjit was conferred the Public Service Star (BBM) in 2011, the Public Service Medal (PBM) in 2007, the ‘Nanyang Alumni Achievement Award’ in 2012, and the SG50 community accolade in 2015 in recognition of his professional achievements and contributions to the nation.
 


Programme Objective

A Fun and Engaging Program to help you Identify the Danger Signs of Creative Accounting so that you may bring your organization to a higher Ethical platform by detecting such fraud  and take relevant factors into consideration in order to make Ethical decisions!

This highly interactive workshop gives you the State-of-the-Art weapons you need to identify warnings of a company’s problems before earnings come out and the damage is irreversible. You will learn the 6 categories of financial gimmicks and the 7 fundamental tricks that companies have used to mislead auditors and investors for decades and use that knowledge to boost your organization to a higher ethical platform. You will also get an update on how these financial gimmicks are being used in today’s technologically advanced, financially savvy investment world.

You will also gain first-hand knowledge and insight into the:

  • Top 10 financial scandals that rocked our world;
  • Top 10 financial fraudsters in the world; and
  • Top 10 signs that a company is in trouble … and what you should look out for.

The trainer will share with you his real life experiences, easy-to-understand examples, ‘drama time’, ‘movie time’ and plenty of illustrations to help explain how you can uncover revenue tricks, expense traps and liability scams to better assist participants to be better fraud busters and consequently, better Ethical stewards to their firms.

By the end of this workshop, you will get to know what went wrong at Lehman Brothers, AIG, Goldman Sachs, Enron, Worldcom, Barings, Arthur Anderson, Bernard Madoff Investment Securities, UBS, Olympus, China Aviation Oil, National Kidney Foundation, SIA, Asia Pacific Breweries, SLA, Ponzi schemes, S-Chips and many other notable case examples.

In addition to lecture notes and case studies, all participants attending this workshop will be given a ‘Comprehensive Checklist of Warning Signs’ and quick reference guides specially designed by the trainer which are helpful tools for use at your workplace. These items are not available for sale in the market.

 

Programme Outline


Module 1 – Sharing the US & Singapore Experience and Rogue Company Profiling

1. Story Time and Critical Thinking – “The Last Days of Lehman”
2. Hard Truths – Sharing the US and Singapore Experience and Fraud Statistics.
3. What Types of Companies are most likely to use Financial Gimmicks?
4. Top 10 Financial Scandals that Rocked the World.
5. Movie Time – “The Inside Story of a Trader Who Blew a Billion Dollars”

Module 2 – Fraudsters and the Fraud Triangle

6. Why do Financial Gimmicks Exist? Where are they most likely to Occur?
7. What is the “Fraud Triangle”? Why do Auditors Use this?
8. Practical Case Study – “The Black Hole”
9. Who are the Top 10 Financial Fraudsters in the World? Looking Inside the Mind of a Criminal.
10. Quiz Time – “Spotting a Fraudster”

Module 3 – Six Categories of Financial Gimmicks & Seven Fundamental Tricks and Techniques for Detecting Fraud to prepare participants to become Ethical stewards

11. What are the 6 Categories of Financial Gimmicks?
12. What are the 7 Fundamental Tricks that Companies use to mislead Auditors and Investors?
13. What are the Techniques for Detecting Financial Gimmicks and Fraud?
14. Drama Time – An Insight to the Collapse of a Listed Company
15. Movie Time – “Time is Money”
 
Module 4 – Financial Reporting Quality: Red Flags and Accounting Warning to equip you with the knowledge to boost your organization to a higher ethical platform

16. Motivations for Management to Manipulate Earnings and Cash Flow.
17. Identify the Accounting Tricks to Lower Earnings Quality.
18. Identify the Accounting Tricks to Manipulate Cash Flows.
19. Examples of Accounting “Warning Signs”
20. Fraud Risk Management – Who is the “Financial Guardian”?

Module 5 - Techniques for Detecting Fraud & Process to Prevent Financial Misstatements, Summary

21. Corporate Governance – A Special Edition on S-Chips
22. How can Financial Misstatements be Prevented: The 4-Pronged Attack?
23. Top 10 Signs that a Company is in Trouble.
24. Checklist – Detecting Financial Statement Fraud: What Every Manager Needs to Know
25. Recap with a Fun Quiz Game Show – “Who Wants to be a Fraud Buster?”

Why Attend this Workshop? Why this One?

The answer is communication. This workshop will help you better understand the language of forensic accounting.

The trainer is a highly experienced practitioner and instructor and is well-regarded for his ability to translate complex financial concepts into plain language, and the use of illustrations, examples and real life experiences to help develop/enhance your understanding of forensic accounting.

The trainer is able to draw on his full depth of knowledge about accounting, creativity and experience to develop compelling and enjoyable programs.

 
Training Methodology

Workshop style - Story-telling, Fun Facts, Short Case Examples, Real Life Illustrations, ‘Think Tank Time’, ‘Talk to Your Neighbour’, “It’s Drama Time”, “It’s Movie Time” with pre- and post-screening activities, and plenty of team activities such as end-of-day quiz questions (Who Wants to be a Fraud Buster) which will help reinforce the learning concepts and outcomes.

Closing Date for Registration

1 week before program or until full enrolment

Intended For

Anyone who wishes to understand the danger signs of creative accounting, and acquire the tools and techniques to spot a scam. There is no pre-requisite of financial and accounting knowledge and experience for this program.

Competency Mapping

Category 2 = 14.00 Hours

Programme Facilitator(s)

Sarjit Singh
FCA (Singapore), FCA (Australia)

Executive Chairman, Ardent Associates LLP

Sarjit is the Executive Chairman of Ardent Associates LLP, a firm of Chartered Accountants and the winner of the Best Practice Award at the Singapore Accountancy Awards in 2016. Ardent is a member firm of Kreston International.

Sarjit leads the Risk and Governance practice at Ardent. He has an extensive experience in a broad range of assurance and advisory services including statutory audits, corporate governance, risk assurance, internal audit, financial due diligence and regulatory advice.

Sarjit has over 25 years of multinational experience including 16 years with PricewaterhouseCoopers (PwC) where he led the audit and advisory engagements of various multinationals, public listed companies and financial institutions.

Prior to Ardent, Sarjit was the CFO of AIA Singapore and Aviva Asia. He was responsible for formulating and implementing the financial, investment and commercial strategies for AIA Singapore and Aviva's diverse businesses in Singapore, Hong Kong and the Asia Pacific region respectively.

Sarjit has served on various Singapore government-appointed committees, including the Committee on the Future Economy (CFE), Working Group on Legal and Accounting Services and the Central Provident Fund (CPF) Life Committee.

Sarjit is presently serving as the Chairman of the Singapore Accountancy Commission’s Chartered Accountancy Learning and Assessment Committee – Foundation Programme. He is also a member of the Board of Education and Examiners at the Institute of Singapore Chartered Accountants.

Sarjit was conferred the Public Service Star (BBM) in 2011, the Public Service Medal (PBM) in 2007, the ‘Nanyang Alumni Achievement Award’ in 2012, and the SG50 community accolade in 2015 in recognition of his professional achievements and contributions to the nation.
 

Upcoming Schedule

Registration is closed

Date & Time

09 Dec 2019 (9:00 AM - 5:00 PM)
10 Dec 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Sarjit Singh

Venue

137 Cecil Street
Level 4
Hengda Building
Singapore 069537