Singapore is the site of an international accounting conference to be conducted by accounting expert Barry Jay Epstein, Ph.D., CPA, CFF, of counsel of Epstein Nach Escobedo on Monday, 26 October 2015.
The event, titled “Fighting Financial Reporting Fraud: A Shared Responsibility for Management and Auditors,” is sponsored by Morison Consulting Singapore Pte. Ltd.
“I am honored to address this esteemed international audience of business management, accountants, auditors, and fraud examiners,” said Dr. Epstein. “As a practicing accountant and frequent expert witness who has consulted or testified on more than 140 cases, I will be sharing real-world insights on fraud detection with conference attendees.”
The cost of fraud is estimated to be at least 5 percent of revenues, according to the Association of Certified Fraud Examiners, translating to $3.7 trillion in global fraud losses annually. In Part I of the conference, attendees will learn about the most common types of business fraud, various criminological and sociological models of fraudulent behavior, the fraud triangle, and the importance of internal controls in deterring and preventing fraud.
Dr. Epstein will provide detailed analyses of selected major financial frauds such as Enron, WorldCom and Parmalat—a number of which he has professionally advised on in his role as a consulting and testifying expert—and their audit implications during Part II of the conference.
Methodologies for detecting fraudulent financial reporting will be addressed in Part III of the seminar. Participants will learn how to identify fraudulent activity through the application of advanced analytical review procedures and other techniques. The distinctions between fraud auditing and routine financial statement auditing under international standards on auditing will also be covered.
Advanced forensic tools for fraud prevention will be the focus of Part IV. Attendees will learn about predictive models of impending corporate bankruptcies, including the venerable Altman Z-Score, which recent research has shown to be useful as an indicator of financial reporting fraud itself, as well as respected but not widely employed models such as the Beneish M-Score. According to Dr. Epstein, the goal will be to provide attendees with ready-to-use tools that can impact their business operations and professional practices.
Registration information is available at http://www.morisonconsultingsingapore.com/.
Following the Singapore conference, Dr. Epstein will also participate in The Morison International Asia Pacific annual conference, being held on the 29-31 October 2015 in Phnom Penh, Cambodia. Morison International is a global association of independent accountants, auditors, tax advisers, business consultants and lawyers.