This course provides an in-depth case study analysis of three high-profile fraud scandals — eFishery, Evergrande, and Wirecard. Participants will explore the specific audit challenges faced in each case, examine the fraudulent schemes involved, and assess audit procedures that were overlooked or insufficient. The session focuses on practical lessons to enhance auditors’ ability to detect fraud risks and improve audit quality.
At the end of this course, you will be able to:
- Identify common fraud schemes and audit red flags illustrated by the eFishery, Evergrande, and Wirecard cases;
- explain the specific audit challenges and risks associated with fictitious revenue, round tripping, misappropriation, and irregular expenses;
- evaluate audit procedures that effectively address fraud risks, including verification of revenue, expense testing, and assessment of third-party transactions;
- analyse deficiencies in audit evidence and controls revealed in fraud-affected audits; and
- apply practical lessons from these cases to enhance audit planning, professional scepticism, and risk assessment in fraud-prone areas.
Programme Outline
eFishery
- Fictitious revenue recognition
Evergrande
- Hidden liabilities and off-balance sheet debt
- Aggressive revenue recognition from pre-sold properties
- Inflated asset values through capitalised costs
- Undisclosed guarantees and related-party dealings
Wirecard
- Fictitious revenue recognition
- Round tripping transactions
- Fictitious expenses
- Misappropriation of assets
- Cash held in trust
Training Methodology*
Lecture style with case studies
Closing Date for Registration*
1 Week before Programme or Until Full Enrolment.
Intended For
This course is designed for practising and non-practising accountants and auditors involved in auditing or reviewing financial statements, particularly those who wish to strengthen their understanding of fraud risks, detection techniques, and the application of effective audit procedures in fraud-affected engagements.
Competency Mapping
Category 3 = 3.00 Hours
Schedule & Fees
Date & Time
02 Dec 2025 (2:00 PM - 5:00 PM)
Fee (inclusive of GST)
SGD pricing -
For Members:
$ 235.44
For Non-Members:
$ 281.22
Programme Facilitator(s)
Daniel Chee
Venue
Live Webinar in or outside of
Singapore
Testimonial
Funding
No funding Available!
Programme Facilitator(s)
Chee Hay Kheong, Daniel
FCA (Singapore)
Daniel is a Fellow Chartered Accountant of Singapore. He holds an Honours degree in Accountancy from the National University of Singapore and was a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with multi-national corporations, managing their operations in Singapore and Asia.
Daniel has served as an adjunct Associate Professor in the department of accounting at the National University of Singapore (NUS), teaching the Audit and Assurance and Advanced Audit and Assurance modules. After NUS, he served as an Adjunct Professor in the accounting department of the Singapore University of Social Sciences (SUSS), teaching the Audit and Assurance module.
Daniel also provided professional training to members of the Institute of Singapore Chartered Accountants (ISCA), the Singapore Institute of Directors (SID), public accounting firms and training providers.
Daniel was formerly a committee member of both the IT Committee and the Examination Committee of ISCA, and was also a committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).
This course provides an in-depth case study analysis of three high-profile fraud scandals — eFishery, Evergrande, and Wirecard. Participants will explore the specific audit challenges faced in each case, examine the fraudulent schemes involved, and assess audit procedures that were overlooked or insufficient. The session focuses on practical lessons to enhance auditors’ ability to detect fraud risks and improve audit quality.
At the end of this course, you will be able to:
- Identify common fraud schemes and audit red flags illustrated by the eFishery, Evergrande, and Wirecard cases;
- explain the specific audit challenges and risks associated with fictitious revenue, round tripping, misappropriation, and irregular expenses;
- evaluate audit procedures that effectively address fraud risks, including verification of revenue, expense testing, and assessment of third-party transactions;
- analyse deficiencies in audit evidence and controls revealed in fraud-affected audits; and
- apply practical lessons from these cases to enhance audit planning, professional scepticism, and risk assessment in fraud-prone areas.
Programme Outline
eFishery
- Fictitious revenue recognition
Evergrande
- Hidden liabilities and off-balance sheet debt
- Aggressive revenue recognition from pre-sold properties
- Inflated asset values through capitalised costs
- Undisclosed guarantees and related-party dealings
Wirecard
- Fictitious revenue recognition
- Round tripping transactions
- Fictitious expenses
- Misappropriation of assets
- Cash held in trust
Training Methodology*
Lecture style with case studies
Closing Date for Registration*
1 Week before Programme or Until Full Enrolment.
Intended For
This course is designed for practising and non-practising accountants and auditors involved in auditing or reviewing financial statements, particularly those who wish to strengthen their understanding of fraud risks, detection techniques, and the application of effective audit procedures in fraud-affected engagements.
Competency Mapping
Category 3 = 3.00 Hours
Programme Facilitator(s)
Chee Hay Kheong, Daniel
FCA (Singapore)
Daniel is a Fellow Chartered Accountant of Singapore. He holds an Honours degree in Accountancy from the National University of Singapore and was a Certified Information Systems Auditor (CISA). He has more than 13 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with multi-national corporations, managing their operations in Singapore and Asia.
Daniel has served as an adjunct Associate Professor in the department of accounting at the National University of Singapore (NUS), teaching the Audit and Assurance and Advanced Audit and Assurance modules. After NUS, he served as an Adjunct Professor in the accounting department of the Singapore University of Social Sciences (SUSS), teaching the Audit and Assurance module.
Daniel also provided professional training to members of the Institute of Singapore Chartered Accountants (ISCA), the Singapore Institute of Directors (SID), public accounting firms and training providers.
Daniel was formerly a committee member of both the IT Committee and the Examination Committee of ISCA, and was also a committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).