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Description

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Creative accounting techniques change over time. As accounting standards, rules, and regulations evolve, creative accountants often alter their techniques to stay ahead of the game.

When Accountants are faced with the pressure to reflect favourable outcomes in financial statements, some may practice Creative Accounting Techniques.  Some may even resort to fraudulent reporting.

This programme is designed specially to give accountants and auditors a practical understanding of creative accounting and fraudulent reporting. You will also get to explore the ethical issues and dilemma faced by accountants in such situations.

What you will learn

At the end of this workshop, you will:

• Have a practical understanding of the difference between creative accounting and fraudulent reporting
• Have a better appreciation of the techniques that could be used in creative accounting and fraudulent reporting
• Learn to identify the symptoms in the financial statements that are potential indicators of such techniques.
• Learn about the financial models in identifying financial statements with manipulation or with  going concern risk

Programme Outline

1) The differences between creative accounting and fraudulent reporting

2) The pressure accountants face or motivation for:

• creative accounting and fraudulent reporting
• not highlighting going concern issues

3) The techniques and symptoms:

• Cookie jar reserve
• Round tripping
• Off-balance sheet 
• Capitalisation of expense
• Fictitious expense
• Fictitious revenue

4) The ethical issues involved 

5) Financial models in detecting problems in financial statements:

• Beneish M Score
• Altman Z score

6) Case Studies: Recent and relevant cases will be incorporated to illustrate the various concepts shared.

This workshop qualifies for 7.0 CPE hours in Ethics and Professionalism (Category 2) .

Target Audience

• Accountants and Auditors
• Executives who would like to have a practical understanding of creative accounting and fraudulent reporting

Expert Speaker

Chee Hay Kheong Daniel

Daniel holds an Honours degree in Accountancy from the National University of Singapore and is 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 MNCs, managing their operations in Singapore and Asia.

Daniel is a highly sought-after seminar trainer, and is currently an Adjunct Professor in the School of Business, Singapore University of Social Sciences. Prior to this, he was an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He served as a committee member of both the IT Committee and the Examination Committee of ISCA, and was a Committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).