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Big turnout for forensic accounting workshop

When writing a cheque, ensure there is no space left between the words Pay To, and the recipients name, as someone may add a couple of alphabets and create another beneficiary to commit fraud!

This is just one of many tips shared by two experienced speakers with participants of the Investigative and Forensic Accounting workshop held at Monash University recently.

Organised by Monash's School of Business, the workshop attracted about 70 participants keen to learn more about investigative and forensic accounting.

The workshop was conducted by Mr Prabhat Kumar, a senior associate consultant with the risk management firm Alliance IFA (M) Sdn Bhd and the Monash University business school's Senior Lecturer Dr Kevin Low.

The two speakers provided the participants with an overall snapshot of commercial fraud, the preparedness of companies - including listed firms - and their investments in fraud detection, as well as some case examples.

Dr Kevin Low, in his presentation, shared some eye-opening information on computer fraud, its occurrence and steps that had been taken by firms to protect their business from fraud using Information Technology.

Dr Low based his presentation on the prevalent use of accounting software and computer databases for commercial transactions to show how accounting and IT could fool the system to carry out fraud.

He also shared some information with participation on the preparedness in the commercial sector in dealing with computer fraud and, astonishingly, how little the investment some had set aside for implementing network security.

The second speaker, Mr Prabhat Kumar, was a seasoned forensic accounting practitioner who has worked on a number of fraud cases.

He shared some very valuable tips with the participants on commercial fraud, shedding light on practices that can create opportunities for fraud.

The workshop was officiated by Monash University School of Business head Professor Ron Edwards.

For more information, please contact Jasbir Singh at 603- 5514 6040 or 6012 – 236 3969.