FORENSIC ACCOUNTING WITH RICHARD MAYUNGBE

CONFERENCE, SEMINAR, WORKSHOP AND TRAINING PAPERS

2019-04-20T09:27:00.000-07:00

CONFERENCE AND TRAINING PAPERS

The following conference, seminar, training and workshop presentations by Prof. Richard Mayungbe are available in Power Point Slides:

1. Fraud Info graphics 2015

2. Fighting financial crimes – The role of Forensic Investigators

3. Developing Anti-fraud programs

4. Investigation Techniques

5. Investigation Law

6. Setting up a fraud response plan

7. Workplace Investigation and Interviewing

8. Electronic Funds Transfer and ATM Fraud Control

9. Developing a Forensic Report and Related Exhibits

10. Forensic Auditing and Investigation Techniques in Procurement and Employee Fraud

11. Fraud Recovery Investigation Principles and Planning

12. Implementing a Fraud Risk Management Program

13. Internal Audit Report Writing Skill

14. Copperstone University Workshop Paper 1 (Forensic Auditing & Investigation Techniques in Procurement, Examination and Employee Frauds)

15. TSI Forensic Accounting Certification Course

16. Tom Financial Statement Analysis

17. Tom Banking Operations

18. Bank Treasury Management Day 2

19. Treasury Management Day 2

20. Corporate Governance 2 for TSI Class

21. Dealing with Conflicts and Complain

22. Forensic Evidence In Litigation

23. Bank Lending and Credit Administration

24. Tom Public Sector Service Transformation

25. Asset Misappropriation

26. Fraud In Education

27. VAT and WHT Accounting

28. Capital Market Operations for bank

29. Treasury Management for Voda

30. ESEF Summer School class

31. Tom Bank Treasury Management Day 4

32. Exploring the Rudiments of White Collar Crimes and Corruption

33. ACFE Abuja Chapter & NNPC Fraud Awareness Week

34. Treasury Management Voda 4

35. Anti-Money Laundering

36. Anti-Money Laundering & Terrorism Course

37. Financial and Investment Analysis

38. Logistics Management

39. Advanced Investigation Techniques

40. Negotiation – managing tense situation

41. Negotiation – strategies for effective meeting

42. Negotiation – body language, logic, credibility

43. Negotiation – influencing maximum impact through persuasion

44. Effective Negotiation

45. Public Speaking and Presentation Course

46. Proactive Debt Recovery Strategy

47. Internal Audit Report Writing Techniques for Optimal Result

48. Business Etiquette

49. Effective Corporate Social Responsibility

50. Auditing for Internal Control

51. CISCOM module 1-4

52. Inventory Management (Yomi )

53. Internal Control and Risk Assessments

54. Appraising Factors Impacting Negatively on Sustainability Growth and Development in Nigeria

55. IFRS for TSI Class

56. Public Procurement Practice

57. Public Procurement Audit

58. Functions of Modern Internal Auditors

59. Investigating Fraud In the Workplace I & II

60. Risk Based Internal Auditing for TSI Class

61. Fundamental of Revenue Forecasting

62. Records and Information Class II for TSI Class

63. Effective Budgeting for TSI Class

64. Corporate Tax Accounting 1-6

65. Project Scheduling and Cost Control

66. The Role of Finance in Strategic Planning

67. Conducting Internal Investigations

68. Tools and Techniques for Modern Internal Auditors

69. Public Sector Efficiency and Reform

70. PPP Corruption in Procurement

71. Business Financial Forecasting and Modelling

72. Fundamental of Internal Auditing II

73. Challenge of Electoral Victory for National Development

74. Risk Management Best Practice

75. Human Capital Performance Improvement Audit

76. Operational Risk Management and Credit Risk Practice

77. Finance for Marketing Managers

78. Abuja Forensic Accounting and Auditing Course

79. BMC Budgeting Course

80. Strategic Procurement Management

81. Risk Based Internal Auditing

82. Cost Optimization

83. Cost Optimization Joint Class

84. IPN Business Strategy II

85. IFRS Training 1-12

86. IFRS Money Laundering

87. Project Risk Management

88. Project Monitoring and Evaluation

89. HR Payroll Administration

90. Creative Accounting

91. Corporate Finance Theory

92. Financial Crime and Money Laundering

93. Corporate Governance for TSI Class

94. Forensic Auditing and Accounting

95. Finance Master-class – Strategic Finance

96. Risk Based Internal Auditing

97. Fraud Audit

98. Effective Internal Audit

99. Financial Planning and Project Finance Management

100. Interpreting and Using Financial Reports II

101. Credit Management

102. Finance for Non finance Managers III

103. Auditing the Treasury Department

104. Auditing the Treasury Department – Audit Session

105. HR Payroll Admin VI

106. IPN Business Strategy

107. Forensic Accounting and Auditing

108. Finance for Non Finance Manager – Working Capital Management

109. IFRS Conceptual Framework

110. IFRS – IAS 27 Group Accounts

111. IFRS – IAS 18 Property, Plant and Equipment

112. IFRS – IAS 2 Inventories

113. IFRS – IAS 1 Presentation of Financial Statements

114. HR Payroll Administration V

115. Public Sector Budgeting

116. Budgeting Course for Osun State

117. Effective Project Risk Management

118. Credit Management and Collection of Receivables

119. The Role of Finance in Strategic Planning

120. Treasury Tools and Techniques

121. Integrity and intelligent Leadership

122. Project Monitoring and Evaluation

123. Strategic Finance

124. Business Finance Forecasting and Modelling

125. Forensic Accounting and Auditing II

126. NEITI Forensic Auditing Course

127. Credit Management for TSI Class

128. Fraud Detection and Control

129. Role of Finance in Competitive Strategy

130. Working Capital Management

131. Principles of Budget and Effective Cost Control

132. Competitive Strategy In Project Management, Monitoring and Evaluation

133. Internal Control and Risk Assessment

134. Strategic Planning for Organizational Improvement

135. Treasury Tools – Strategic Finance Session

136. Forensic Evidence in Litigation

137. The use of Forensic Evidence in Litigation

138. Fraud Risk in Forensic Accounting

139. Conference paper – 1^st National Forensic Conference, Yaounde, Cameroon

140. Strategic Finance

141. Modern Strategic Leader

142. PPP Corruption in Procurement

143. Quality Management System

144. Reward System

145. Prevent Fraud Losses (ACFE)

146. Dubai Forensic Auditing

147. Financial Planning for Executives I & II

148. Risk Assessment and Introduction to Internal Control

149. Asset/Liability Management

150. Financial Statement Fraud

151. Management Accounting Fundamentals

152. Effective Project Risk Management

153. Balance Score Card (Vera)

154. Business Communications and Ethics

155. Attitudes for Local Government Workers

156. Project Management Monitoring

157. Chanterline Materials 7 & 8

158. Capital Market Studies

159. Supervising and Leading Team

160. Putting Competency Framework to use

161. People Management

162. Corporate Governance, Ikeja

163. Developing Executive Management Capacity

164. Records and Information Management

165. Leadership for New Managers

166. Effective Institutional and Organizational Development

167. Risks in Merger and Acquisition

168. Strategic Management, Performance Management and Team Building

169. Project Financial Cash Flow – Treasury Management

170. Data Collection, Analysis and Reporting Management

171. Public Private Partnership

172. PPP Management Accountability

173. IPN Finance and Management

174. Interpreting and Using Financial Reports and Asset/Liability Management

175. Understanding Financial Statement

176. Financial Accounting Presentation (BA340)

177. Effective Budgeting and Financial Management

178. Training on Financial Accounting

179. Credit Management and Debt Recovery Strategy

180. Managing Change, People and Process

181. Merger and Acquisition

182. Organizational People Management

183. Investment Skill Management

184. Advance Excel Skill for Financial Accountants

185. Budget and Budgeting Control

186. Course 4 – Withholding Tax

187. Course 3 – VAT

188. Course 2 – Other Tax Matters

189. Course 1 – Tax and Tax Matters in Nigeria

190. Audit Fundamentals

191. Audit Report

192. Information Systems Audit

193. Management and Union Relations that will lead to Trust

194. Employees Exposure to Methods of Fraud Prevention

CONFERENCE, SEMINAR, WORKSHOP AND TRAINING PAPERS

2019-04-20T09:08:00.001-07:00

CONFERENCE AND TRAINING PAPERS

The following conference, seminar, training and workshop presentations by Prof. Richard Mayungbe are available in Power Point Slides from richardmayungbe@gmail.com

1. Fraud Info graphics 2015

2. Fighting financial crimes – The role of Forensic Investigators

3. Developing Anti-fraud programs

4. Investigation Techniques

5. Investigation Law

6. Setting up a fraud response plan

7. Workplace Investigation and Interviewing

8. Electronic Funds Transfer and ATM Fraud Control

9. Developing a Forensic Report and Related Exhibits

10. Forensic Auditing and Investigation Techniques in Procurement and Employee Fraud

11. Fraud Recovery Investigation Principles and Planning

12. Implementing a Fraud Risk Management Program

13. Internal Audit Report Writing Skill

14. Copperstone University Workshop Paper 1 (Forensic Auditing & Investigation Techniques in Procurement, Examination and Employee Frauds)

15. TSI Forensic Accounting Certification Course

16. Tom Financial Statement Analysis

17. Tom Banking Operations

18. Bank Treasury Management Day 2

19. Treasury Management Day 2

20. Corporate Governance 2 for TSI Class

21. Dealing with Conflicts and Complain

22. Forensic Evidence In Litigation

23. Bank Lending and Credit Administration

24. Tom Public Sector Service Transformation

25. Asset Misappropriation

26. Fraud In Education

27. VAT and WHT Accounting

28. Capital Market Operations for bank

29. Treasury Management for Voda

30. ESEF Summer School class

31. Tom Bank Treasury Management Day 4

32. Exploring the Rudiments of White Collar Crimes and Corruption

33. ACFE Abuja Chapter & NNPC Fraud Awareness Week

34. Treasury Management Voda 4

35. Anti-Money Laundering

36. Anti-Money Laundering & Terrorism Course

37. Financial and Investment Analysis

38. Logistics Management

39. Advanced Investigation Techniques

40. Negotiation – managing tense situation

41. Negotiation – strategies for effective meeting

42. Negotiation – body language, logic, credibility

43. Negotiation – influencing maximum impact through persuasion

44. Effective Negotiation

45. Public Speaking and Presentation Course

46. Proactive Debt Recovery Strategy

47. Internal Audit Report Writing Techniques for Optimal Result

48. Business Etiquette

49. Effective Corporate Social Responsibility

50. Auditing for Internal Control

51. CISCOM module 1-4

52. Inventory Management (Yomi )

53. Internal Control and Risk Assessments

54. Appraising Factors Impacting Negatively on Sustainability Growth and Development in Nigeria

55. IFRS for TSI Class

56. Public Procurement Practice

57. Public Procurement Audit

58. Functions of Modern Internal Auditors

59. Investigating Fraud In the Workplace I & II

60. Risk Based Internal Auditing for TSI Class

61. Fundamental of Revenue Forecasting

62. Records and Information Class II for TSI Class

63. Effective Budgeting for TSI Class

64. Corporate Tax Accounting 1-6

65. Project Scheduling and Cost Control

66. The Role of Finance in Strategic Planning

67. Conducting Internal Investigations

68. Tools and Techniques for Modern Internal Auditors

69. Public Sector Efficiency and Reform

70. PPP Corruption in Procurement

71. Business Financial Forecasting and Modelling

72. Fundamental of Internal Auditing II

73. Challenge of Electoral Victory for National Development

74. Risk Management Best Practice

75. Human Capital Performance Improvement Audit

76. Operational Risk Management and Credit Risk Practice

77. Finance for Marketing Managers

78. Abuja Forensic Accounting and Auditing Course

79. BMC Budgeting Course

80. Strategic Procurement Management

81. Risk Based Internal Auditing

82. Cost Optimization

83. Cost Optimization Joint Class

84. IPN Business Strategy II

85. IFRS Training 1-12

86. IFRS Money Laundering

87. Project Risk Management

88. Project Monitoring and Evaluation

89. HR Payroll Administration

90. Creative Accounting

91. Corporate Finance Theory

92. Financial Crime and Money Laundering

93. Corporate Governance for TSI Class

94. Forensic Auditing and Accounting

95. Finance Master-class – Strategic Finance

96. Risk Based Internal Auditing

97. Fraud Audit

98. Effective Internal Audit

99. Financial Planning and Project Finance Management

100. Interpreting and Using Financial Reports II

101. Credit Management

102. Finance for Non finance Managers III

103. Auditing the Treasury Department

104. Auditing the Treasury Department – Audit Session

105. HR Payroll Admin VI

106. IPN Business Strategy

107. Forensic Accounting and Auditing

108. Finance for Non Finance Manager – Working Capital Management

109. IFRS Conceptual Framework

110. IFRS – IAS 27 Group Accounts

111. IFRS – IAS 18 Property, Plant and Equipment

112. IFRS – IAS 2 Inventories

113. IFRS – IAS 1 Presentation of Financial Statements

114. HR Payroll Administration V

115. Public Sector Budgeting

116. Budgeting Course for Osun State

117. Effective Project Risk Management

118. Credit Management and Collection of Receivables

119. The Role of Finance in Strategic Planning

120. Treasury Tools and Techniques

121. Integrity and intelligent Leadership

122. Project Monitoring and Evaluation

123. Strategic Finance

124. Business Finance Forecasting and Modelling

125. Forensic Accounting and Auditing II

126. NEITI Forensic Auditing Course

127. Credit Management for TSI Class

128. Fraud Detection and Control

129. Role of Finance in Competitive Strategy

130. Working Capital Management

131. Principles of Budget and Effective Cost Control

132. Competitive Strategy In Project Management, Monitoring and Evaluation

133. Internal Control and Risk Assessment

134. Strategic Planning for Organizational Improvement

135. Treasury Tools – Strategic Finance Session

136. Forensic Evidence in Litigation

137. The use of Forensic Evidence in Litigation

138. Fraud Risk in Forensic Accounting

139. Conference paper – 1^st National Forensic Conference, Yaounde, Cameroon

140. Strategic Finance

141. Modern Strategic Leader

142. PPP Corruption in Procurement

143. Quality Management System

144. Reward System

145. Prevent Fraud Losses (ACFE)

146. Dubai Forensic Auditing

147. Financial Planning for Executives I & II

148. Risk Assessment and Introduction to Internal Control

149. Asset/Liability Management

150. Financial Statement Fraud

151. Management Accounting Fundamentals

152. Effective Project Risk Management

153. Balance Score Card (Vera)

154. Business Communications and Ethics

155. Attitudes for Local Government Workers

156. Project Management Monitoring

157. Chanterline Materials 7 & 8

158. Capital Market Studies

159. Supervising and Leading Team

160. Putting Competency Framework to use

161. People Management

162. Corporate Governance, Ikeja

163. Developing Executive Management Capacity

164. Records and Information Management

165. Leadership for New Managers

166. Effective Institutional and Organizational Development

167. Risks in Merger and Acquisition

168. Strategic Management, Performance Management and Team Building

169. Project Financial Cash Flow – Treasury Management

170. Data Collection, Analysis and Reporting Management

171. Public Private Partnership

172. PPP Management Accountability

173. IPN Finance and Management

174. Interpreting and Using Financial Reports and Asset/Liability Management

175. Understanding Financial Statement

176. Financial Accounting Presentation (BA340)

177. Effective Budgeting and Financial Management

178. Training on Financial Accounting

179. Credit Management and Debt Recovery Strategy

180. Managing Change, People and Process

181. Merger and Acquisition

182. Organizational People Management

183. Investment Skill Management

184. Advance Excel Skill for Financial Accountants

185. Budget and Budgeting Control

186. Course 4 – Withholding Tax

187. Course 3 – VAT

188. Course 2 – Other Tax Matters

189. Course 1 – Tax and Tax Matters in Nigeria

190. Audit Fundamentals

191. Audit Report

192. Information Systems Audit

193. Management and Union Relations that will lead to Trust

194. Employees Exposure to Methods of Fraud Prevention

CONFERENCE, SEMINAR, WORKSHOP AND TRAINING PAPERS

2019-04-20T09:07:00.005-07:00

CONFERENCE AND TRAINING PAPERS

The following conference, seminar, training and workshop presentations by Prof. Richard Mayungbe are available in Power Point Slides from richardmayungbe@gmail.com

1. Fraud Info graphics 2015

2. Fighting financial crimes – The role of Forensic Investigators

3. Developing Anti-fraud programs

4. Investigation Techniques

5. Investigation Law

6. Setting up a fraud response plan

7. Workplace Investigation and Interviewing

8. Electronic Funds Transfer and ATM Fraud Control

9. Developing a Forensic Report and Related Exhibits

10. Forensic Auditing and Investigation Techniques in Procurement and Employee Fraud

11. Fraud Recovery Investigation Principles and Planning

12. Implementing a Fraud Risk Management Program

13. Internal Audit Report Writing Skill

14. Copperstone University Workshop Paper 1 (Forensic Auditing & Investigation Techniques in Procurement, Examination and Employee Frauds)

15. TSI Forensic Accounting Certification Course

16. Tom Financial Statement Analysis

17. Tom Banking Operations

18. Bank Treasury Management Day 2

19. Treasury Management Day 2

20. Corporate Governance 2 for TSI Class

21. Dealing with Conflicts and Complain

22. Forensic Evidence In Litigation

23. Bank Lending and Credit Administration

24. Tom Public Sector Service Transformation

25. Asset Misappropriation

26. Fraud In Education

27. VAT and WHT Accounting

28. Capital Market Operations for bank

29. Treasury Management for Voda

30. ESEF Summer School class

31. Tom Bank Treasury Management Day 4

32. Exploring the Rudiments of White Collar Crimes and Corruption

33. ACFE Abuja Chapter & NNPC Fraud Awareness Week

34. Treasury Management Voda 4

35. Anti-Money Laundering

36. Anti-Money Laundering & Terrorism Course

37. Financial and Investment Analysis

38. Logistics Management

39. Advanced Investigation Techniques

40. Negotiation – managing tense situation

41. Negotiation – strategies for effective meeting

42. Negotiation – body language, logic, credibility

43. Negotiation – influencing maximum impact through persuasion

44. Effective Negotiation

45. Public Speaking and Presentation Course

46. Proactive Debt Recovery Strategy

47. Internal Audit Report Writing Techniques for Optimal Result

48. Business Etiquette

49. Effective Corporate Social Responsibility

50. Auditing for Internal Control

51. CISCOM module 1-4

52. Inventory Management (Yomi )

53. Internal Control and Risk Assessments

54. Appraising Factors Impacting Negatively on Sustainability Growth and Development in Nigeria

55. IFRS for TSI Class

56. Public Procurement Practice

57. Public Procurement Audit

58. Functions of Modern Internal Auditors

59. Investigating Fraud In the Workplace I & II

60. Risk Based Internal Auditing for TSI Class

61. Fundamental of Revenue Forecasting

62. Records and Information Class II for TSI Class

63. Effective Budgeting for TSI Class

64. Corporate Tax Accounting 1-6

65. Project Scheduling and Cost Control

66. The Role of Finance in Strategic Planning

67. Conducting Internal Investigations

68. Tools and Techniques for Modern Internal Auditors

69. Public Sector Efficiency and Reform

70. PPP Corruption in Procurement

71. Business Financial Forecasting and Modelling

72. Fundamental of Internal Auditing II

73. Challenge of Electoral Victory for National Development

74. Risk Management Best Practice

75. Human Capital Performance Improvement Audit

76. Operational Risk Management and Credit Risk Practice

77. Finance for Marketing Managers

78. Abuja Forensic Accounting and Auditing Course

79. BMC Budgeting Course

80. Strategic Procurement Management

81. Risk Based Internal Auditing

82. Cost Optimization

83. Cost Optimization Joint Class

84. IPN Business Strategy II

85. IFRS Training 1-12

86. IFRS Money Laundering

87. Project Risk Management

88. Project Monitoring and Evaluation

89. HR Payroll Administration

90. Creative Accounting

91. Corporate Finance Theory

92. Financial Crime and Money Laundering

93. Corporate Governance for TSI Class

94. Forensic Auditing and Accounting

95. Finance Master-class – Strategic Finance

96. Risk Based Internal Auditing

97. Fraud Audit

98. Effective Internal Audit

99. Financial Planning and Project Finance Management

100. Interpreting and Using Financial Reports II

101. Credit Management

102. Finance for Non finance Managers III

103. Auditing the Treasury Department

104. Auditing the Treasury Department – Audit Session

105. HR Payroll Admin VI

106. IPN Business Strategy

107. Forensic Accounting and Auditing

108. Finance for Non Finance Manager – Working Capital Management

109. IFRS Conceptual Framework

110. IFRS – IAS 27 Group Accounts

111. IFRS – IAS 18 Property, Plant and Equipment

112. IFRS – IAS 2 Inventories

113. IFRS – IAS 1 Presentation of Financial Statements

114. HR Payroll Administration V

115. Public Sector Budgeting

116. Budgeting Course for Osun State

117. Effective Project Risk Management

118. Credit Management and Collection of Receivables

119. The Role of Finance in Strategic Planning

120. Treasury Tools and Techniques

121. Integrity and intelligent Leadership

122. Project Monitoring and Evaluation

123. Strategic Finance

124. Business Finance Forecasting and Modelling

125. Forensic Accounting and Auditing II

126. NEITI Forensic Auditing Course

127. Credit Management for TSI Class

128. Fraud Detection and Control

129. Role of Finance in Competitive Strategy

130. Working Capital Management

131. Principles of Budget and Effective Cost Control

132. Competitive Strategy In Project Management, Monitoring and Evaluation

133. Internal Control and Risk Assessment

134. Strategic Planning for Organizational Improvement

135. Treasury Tools – Strategic Finance Session

136. Forensic Evidence in Litigation

137. The use of Forensic Evidence in Litigation

138. Fraud Risk in Forensic Accounting

139. Conference paper – 1^st National Forensic Conference, Yaounde, Cameroon

140. Strategic Finance

141. Modern Strategic Leader

142. PPP Corruption in Procurement

143. Quality Management System

144. Reward System

145. Prevent Fraud Losses (ACFE)

146. Dubai Forensic Auditing

147. Financial Planning for Executives I & II

148. Risk Assessment and Introduction to Internal Control

149. Asset/Liability Management

150. Financial Statement Fraud

151. Management Accounting Fundamentals

152. Effective Project Risk Management

153. Balance Score Card (Vera)

154. Business Communications and Ethics

155. Attitudes for Local Government Workers

156. Project Management Monitoring

157. Chanterline Materials 7 & 8

158. Capital Market Studies

159. Supervising and Leading Team

160. Putting Competency Framework to use

161. People Management

162. Corporate Governance, Ikeja

163. Developing Executive Management Capacity

164. Records and Information Management

165. Leadership for New Managers

166. Effective Institutional and Organizational Development

167. Risks in Merger and Acquisition

168. Strategic Management, Performance Management and Team Building

169. Project Financial Cash Flow – Treasury Management

170. Data Collection, Analysis and Reporting Management

171. Public Private Partnership

172. PPP Management Accountability

173. IPN Finance and Management

174. Interpreting and Using Financial Reports and Asset/Liability Management

175. Understanding Financial Statement

176. Financial Accounting Presentation (BA340)

177. Effective Budgeting and Financial Management

178. Training on Financial Accounting

179. Credit Management and Debt Recovery Strategy

180. Managing Change, People and Process

181. Merger and Acquisition

182. Organizational People Management

183. Investment Skill Management

184. Advance Excel Skill for Financial Accountants

185. Budget and Budgeting Control

186. Course 4 – Withholding Tax

187. Course 3 – VAT

188. Course 2 – Other Tax Matters

189. Course 1 – Tax and Tax Matters in Nigeria

190. Audit Fundamentals

191. Audit Report

192. Information Systems Audit

193. Management and Union Relations that will lead to Trust

194. Employees Exposure to Methods of Fraud Prevention

CONFERENCE, SEMINAR, WORKSHOP AND TRAINING PAPERS

2019-04-20T09:07:00.001-07:00

CONFERENCE AND TRAINING PAPERS

The following conference, seminar, training and workshop presentations by Prof. Richard Mayungbe are available in Power Point Slides from richardmayungbe@gmail.com

1. Fraud Info graphics 2015

2. Fighting financial crimes – The role of Forensic Investigators

3. Developing Anti-fraud programs

4. Investigation Techniques

5. Investigation Law

6. Setting up a fraud response plan

7. Workplace Investigation and Interviewing

8. Electronic Funds Transfer and ATM Fraud Control

9. Developing a Forensic Report and Related Exhibits

10. Forensic Auditing and Investigation Techniques in Procurement and Employee Fraud

11. Fraud Recovery Investigation Principles and Planning

12. Implementing a Fraud Risk Management Program

13. Internal Audit Report Writing Skill

14. Copperstone University Workshop Paper 1 (Forensic Auditing & Investigation Techniques in Procurement, Examination and Employee Frauds)

15. TSI Forensic Accounting Certification Course

16. Tom Financial Statement Analysis

17. Tom Banking Operations

18. Bank Treasury Management Day 2

19. Treasury Management Day 2

20. Corporate Governance 2 for TSI Class

21. Dealing with Conflicts and Complain

22. Forensic Evidence In Litigation

23. Bank Lending and Credit Administration

24. Tom Public Sector Service Transformation

25. Asset Misappropriation

26. Fraud In Education

27. VAT and WHT Accounting

28. Capital Market Operations for bank

29. Treasury Management for Voda

30. ESEF Summer School class

31. Tom Bank Treasury Management Day 4

32. Exploring the Rudiments of White Collar Crimes and Corruption

33. ACFE Abuja Chapter & NNPC Fraud Awareness Week

34. Treasury Management Voda 4

35. Anti-Money Laundering

36. Anti-Money Laundering & Terrorism Course

37. Financial and Investment Analysis

38. Logistics Management

39. Advanced Investigation Techniques

40. Negotiation – managing tense situation

41. Negotiation – strategies for effective meeting

42. Negotiation – body language, logic, credibility

43. Negotiation – influencing maximum impact through persuasion

44. Effective Negotiation

45. Public Speaking and Presentation Course

46. Proactive Debt Recovery Strategy

47. Internal Audit Report Writing Techniques for Optimal Result

48. Business Etiquette

49. Effective Corporate Social Responsibility

50. Auditing for Internal Control

51. CISCOM module 1-4

52. Inventory Management (Yomi )

53. Internal Control and Risk Assessments

54. Appraising Factors Impacting Negatively on Sustainability Growth and Development in Nigeria

55. IFRS for TSI Class

56. Public Procurement Practice

57. Public Procurement Audit

58. Functions of Modern Internal Auditors

59. Investigating Fraud In the Workplace I & II

60. Risk Based Internal Auditing for TSI Class

61. Fundamental of Revenue Forecasting

62. Records and Information Class II for TSI Class

63. Effective Budgeting for TSI Class

64. Corporate Tax Accounting 1-6

65. Project Scheduling and Cost Control

66. The Role of Finance in Strategic Planning

67. Conducting Internal Investigations

68. Tools and Techniques for Modern Internal Auditors

69. Public Sector Efficiency and Reform

70. PPP Corruption in Procurement

71. Business Financial Forecasting and Modelling

72. Fundamental of Internal Auditing II

73. Challenge of Electoral Victory for National Development

74. Risk Management Best Practice

75. Human Capital Performance Improvement Audit

76. Operational Risk Management and Credit Risk Practice

77. Finance for Marketing Managers

78. Abuja Forensic Accounting and Auditing Course

79. BMC Budgeting Course

80. Strategic Procurement Management

81. Risk Based Internal Auditing

82. Cost Optimization

83. Cost Optimization Joint Class

84. IPN Business Strategy II

85. IFRS Training 1-12

86. IFRS Money Laundering

87. Project Risk Management

88. Project Monitoring and Evaluation

89. HR Payroll Administration

90. Creative Accounting

91. Corporate Finance Theory

92. Financial Crime and Money Laundering

93. Corporate Governance for TSI Class

94. Forensic Auditing and Accounting

95. Finance Master-class – Strategic Finance

96. Risk Based Internal Auditing

97. Fraud Audit

98. Effective Internal Audit

99. Financial Planning and Project Finance Management

100. Interpreting and Using Financial Reports II

101. Credit Management

102. Finance for Non finance Managers III

103. Auditing the Treasury Department

104. Auditing the Treasury Department – Audit Session

105. HR Payroll Admin VI

106. IPN Business Strategy

107. Forensic Accounting and Auditing

108. Finance for Non Finance Manager – Working Capital Management

109. IFRS Conceptual Framework

110. IFRS – IAS 27 Group Accounts

111. IFRS – IAS 18 Property, Plant and Equipment

112. IFRS – IAS 2 Inventories

113. IFRS – IAS 1 Presentation of Financial Statements

114. HR Payroll Administration V

115. Public Sector Budgeting

116. Budgeting Course for Osun State

117. Effective Project Risk Management

118. Credit Management and Collection of Receivables

119. The Role of Finance in Strategic Planning

120. Treasury Tools and Techniques

121. Integrity and intelligent Leadership

122. Project Monitoring and Evaluation

123. Strategic Finance

124. Business Finance Forecasting and Modelling

125. Forensic Accounting and Auditing II

126. NEITI Forensic Auditing Course

127. Credit Management for TSI Class

128. Fraud Detection and Control

129. Role of Finance in Competitive Strategy

130. Working Capital Management

131. Principles of Budget and Effective Cost Control

132. Competitive Strategy In Project Management, Monitoring and Evaluation

133. Internal Control and Risk Assessment

134. Strategic Planning for Organizational Improvement

135. Treasury Tools – Strategic Finance Session

136. Forensic Evidence in Litigation

137. The use of Forensic Evidence in Litigation

138. Fraud Risk in Forensic Accounting

139. Conference paper – 1^st National Forensic Conference, Yaounde, Cameroon

140. Strategic Finance

141. Modern Strategic Leader

142. PPP Corruption in Procurement

143. Quality Management System

144. Reward System

145. Prevent Fraud Losses (ACFE)

146. Dubai Forensic Auditing

147. Financial Planning for Executives I & II

148. Risk Assessment and Introduction to Internal Control

149. Asset/Liability Management

150. Financial Statement Fraud

151. Management Accounting Fundamentals

152. Effective Project Risk Management

153. Balance Score Card (Vera)

154. Business Communications and Ethics

155. Attitudes for Local Government Workers

156. Project Management Monitoring

157. Chanterline Materials 7 & 8

158. Capital Market Studies

159. Supervising and Leading Team

160. Putting Competency Framework to use

161. People Management

162. Corporate Governance, Ikeja

163. Developing Executive Management Capacity

164. Records and Information Management

165. Leadership for New Managers

166. Effective Institutional and Organizational Development

167. Risks in Merger and Acquisition

168. Strategic Management, Performance Management and Team Building

169. Project Financial Cash Flow – Treasury Management

170. Data Collection, Analysis and Reporting Management

171. Public Private Partnership

172. PPP Management Accountability

173. IPN Finance and Management

174. Interpreting and Using Financial Reports and Asset/Liability Management

175. Understanding Financial Statement

176. Financial Accounting Presentation (BA340)

177. Effective Budgeting and Financial Management

178. Training on Financial Accounting

179. Credit Management and Debt Recovery Strategy

180. Managing Change, People and Process

181. Merger and Acquisition

182. Organizational People Management

183. Investment Skill Management

184. Advance Excel Skill for Financial Accountants

185. Budget and Budgeting Control

186. Course 4 – Withholding Tax

187. Course 3 – VAT

188. Course 2 – Other Tax Matters

189. Course 1 – Tax and Tax Matters in Nigeria

190. Audit Fundamentals

191. Audit Report

192. Information Systems Audit

193. Management and Union Relations that will lead to Trust

194. Employees Exposure to Methods of Fraud Prevention

2018-01-22T09:09:00.000-08:00

BUSINESS ETHICS:

Critical Steps To Protect Yourself and Your Organization

Dr. Richard Mayungbe

Principal Partner,

Richard & Co. Forensic Accountants, Lagos

And

Nigeria Country Representative: Institute of Certified Forensic Accountants, Canada

A paper prepared for presentation at the

ACFE, ABUJA CHAPTER &

NNPC FRAUD AWARENESS WEEK

Date: 13-16, November, 2017

INTRODUCTION

In the recent past, local and global organisations have suffered financial scandals of monumental proportions where corporate assets and personal reputations were woefully plundered. As a consequence of these developments, firms have found themselves pressed to develop new mandates of decorum on business practices and strong codes of ethics to guide the behavior of board members, managers, vendors, customers, employees and a host of other stakeholders.

Wherever people, money, market, product and competition are present, and in the face of a stiff competition, the concern with ethics has always been a big concern. Business leaders today are beginning to think about ethics as a set of principles and guides of behavior. In this sense, business ethics is not only an attempt to set a standard by which all of the employees of a firm can know what is expected, but it is also an attempt to encourage employees, managers, board members and all stakeholders to think about and make decisions through shared set of values.

With increasing urgency, market and social forces are rewriting the roles and responsibilities of business, though the profit motive of business is understood, it should not be accepted as an excuse for ignoring the basic norms, values, and standards of being a good citizen. Modern businesses are expected to be responsible stewards of community resources working toward the growth and success of both their companies and their communities

Markets become free and remain free if their players are responsible and respect the basic values of honesty, reliability, fairness, and self-discipline. The consequences of irresponsible business conduct are inefficient markets and costly government regulation. Free flows of capital, talent, knowledge, and creativity are possible where communities are known for transparency, respect for property, a market-oriented legal framework, and reliable dispute resolution mechanisms. The opposite are a lack of capital, high transaction costs, limited markets, underdevelopment, and poverty.

In short, owners and managers must appreciate the competitive aspects of capitalism with concerned citizenship. They must take individual responsibility for the decisions and activities of their enterprises and the impact on the culture of their enterprise and its stakeholders.

A business needs committed, productive employees, agents, and suppliers to create goods and services. It needs loyal, satisfied customers and consumers to make a profit. It needs people who believe in it and in its prospects enough to invest. It needs to take the long view and to respect the physical environment and the prospects of future generations.

Over the past few decades, governments, international institutions, transnational organizations, organized labor, and civil society have been engaged in an ongoing dialogue into the role of business as responsible stewards. Standards, procedures, and expectations for business are emerging worldwide. Enterprises and markets that are unaware of them, or fail to plan their futures with them in mind, will be unable to participate in the global dialogue and will risk being left behind as the global market economy expands ethics programs to address the legal, ethical, social responsibility, and environmental issues they face. By addressing these issues in a systematic way, enterprises can improve their own business performance, expand opportunities for growth, and contribute to the development of social capital in their markets. They can realize specific business benefits, such as:

• Enhanced reputations and good will

• Reduced risks and costs

• Protection from their own employees and agents

• Stronger competitive positions

• Expanded access to capital, credit, and foreign investment

• Increased profits

• Sustained long-term growth

• International respect for enterprises and emerging markets

Enterprises that excel in these areas create a climate of excellence for their employees, shareholders, and communities, and contribute to the economic wellbeing of their countries

WHAT DO WE MEAN BY BUSINESS ETHICS

Business ethics is simply defined as the set of moral rules that govern how businesses operate, how business decisions are made and how people are treated in the midst of contending interests. Ethics in business is about knowing the difference between right and wrong and choosing to do what is right.

Some business ethics are imposed by law, professional codes, religious beliefs and even morals. For example, the Securities and Exchange Commission governs the way investment bankers and stock brokers do business. Court rules dealing with lawyers and their client carry some ethical responsibilities.

There are also business decisions that do not fall within the guidelines of the law, in which the businessperson must make their own ethical or moral judgments.

An example of business ethics is when moral rules are applied by a corporation to determine how best to treat its employees, shareholders and customers.
An example of business ethics are accounting ethics - especially for accountants of publicly-held corporations - which depend upon complete honesty and transparency. A lack of business ethics allowed the accountants at Arthur Anderson to not behave with honesty, openness and responsible publication when auditing Enron. As a result, shareholders were harmed, the company collapsed, and some Arthur Anderson accountants were held legally liable for their breach of business ethics.
An example of business ethics are attorney ethics which call for complete confidentiality. The law recognizes that attorneys have such a high moral obligation to keep their clients secrets confidential, that if an attorney violates this ethical duty, he can lose his license to practice law.
An example of business ethics are medical or medical research ethics which call for protection of their human subjects when it comes to treating patients or conducting experiments on patients.

Our discussion here today is to explore how a business ethics program will help owners, managers, and their stake holders build an enterprise that protects them from running into loss of assets, loss of reliable staff, loss of reputation, products boycott, loss of market and loss of revenue… These are the critical steps to protect you and your organization. Our discussions shall cover three distinct areas where business ethics create issues on a daily basis:

The Rest of this paper is available on request

RICHARD'S PROCEDURE IN FORENSIC ACCOUNTING CALCULATIONS

2016-01-03T14:01:00.000-08:00

Richard’s Procedure In Forensic Accounting Calculations

Dr. Richard Mayungbe, CPFA

Introduction:

"Forensic," according to the Webster’s Dictionary means, "Belonging to, used in or suitable to courts of judicature or to public discussion and debate."

The word accounting is defined as "a system of recording and summarizing business and financial transactions and analyzing, verifying, and recording the results."

The term ‘forensic accounting’ refers to financial fraud investigation which includes the analysis of accounting records to prove or disprove financial fraud and serving as an expert witness in Court to prove or disprove the same. Thus, basically, forensic accounting aims at using accounting report in a form suitable for legal battle/purpose.

In most forensic accounting cases, the Cruz of the matter is either of a financial or economic dispute(s). There must have been a loss of value (asset) over a period of time. Both parties in the disputes would usually be contesting the figures, i. e. You are owing me this amount and the second party would say No, this is what am owing or am not even owing at all!

For almost all the cases I have handled in Nigeria, especially banking disputes between lenders and borrowers, the patterns were the same.

1. Issues for Determination

Like the lawyers would most of the time do, we have to formulate the issues for determination as follows:

a) Does a relationship exist between the two parties?

b) What are the responsibilities of each party in the relationship?

c) What Covenant, Agreement or Contract has lead to the dispute?

d) What is the Regulators blue print concerning (c) above?

e) What does the Ethic of the profession outline to practitioners?

The role of the Forensic Accountant is to assist the court to arrive at the truth, and in doing just that, some procedures have been developed so that the flow of the Forensic Accountants’ evidence would connect truthfully and logically.

2. The Contentions

The most contentious aspect of any financial dispute are:

i. The Principal Amount

ii. Rate of Interest Agreed (for lending or deposit as the case may be)

iii. Rate of Interest Implemented (for lending or deposit)

iv. Other Charges i. e, C.O.T, Management fees etc.

v. Period Covered

vi. Compounding Effect on (i-v) above

3. Richard’s Procedure In Forensic Accounting Calculations

This is a combination of academic and professional procedure.

Determine the:

i. Agreed Principal or sums lent to the borrower

ii. Effective Date of Commencement

iii. Agreed Rate

iv. Implemented Rate

v. Other Charges, i. e. C.O.T, Management fees, Processing fees etc.

vi. Find the rate differentials between Agreed and Implemented rates

vii. Convert the Annual Rate to Monthly rate because interest is usually served and compounded monthly

viii. End Time, i. e, Date of the Dispute. This is where your calculations end.

ix. In some cases, C.O.T are above the rate prescribed by the Regulators while some charges are completely unknown to the agreement/contract. You have to fish out all the infractions.

x. Relate Deposit Slips to Credit entries in bank statement

xi. Relate Drawings through cheque Stubbs to Debit entries in bank statement

xii. Relate all debit and credit advices to the bank statement

xiii. Where foreign transactions are involved, obtain the debit advice to justify the exchange rate used by the lender against your instructions

xiv. Where capital market instruments are involved, i. e. Buy or Sell transactions, obtain the brokers contract notes and relate the contract notes to the Stock Exchange DOL (Daily Official List). Take a step further to test the brokers charges with the SEC approved rates

xv. Issues of banking and finance move with time, as N100 today would translate to a higher amount in the next 24 months or more. With the aid of MS Excel, create the following headings:

a) Date - date of transactions

b) Details – details of Agreed Charges as listed in Offer Letter

c) Percent Charged – this column contains the % per month only

d) Amount Charged – amount debited into the statement of account

e) Agreed Charges – the % Agreed per month

f) Excess Commission – amount of commission debited in excess to the statement

g) Wrong C.O.T - charges above the rate approved by the regulators

h) Excess Charges Refundable – amounts debited, less agreed amount

i) Number of Months Involved – number of months from the date of transactions to the date that either party disputes the outstanding amount

j) Compounding todate – amount at the monthly rate of interest, raised to the number of months involved.

k) The formulae to be imputed in your Excel is =PV*(1+.r)^n As explained in paragraph 4 (a-m), this procedure would appear like this =h*(1+.c)^i ENTER.

· Where h = figure in column h on your Excel Spreadsheet, as explained,

· * = star key on your computer keyboard,

· () = brackets open and close on your computer keyboard,

· 1 = digit 1 and ‘plus’ sign on your computer keyboard

· ^ = lambda key on your computer keyboard

· .c = interest rate as broken down to monthly percentage on your excel column c

· i= number of months involved

· ENTER = result of procedure. Just strike the Enter Key on your keyboard

l) The result would show how much the Excess Charges has grown on the first transaction. If there are 10,000 transactions, please follow the procedure all through.

m) At the end of the procedure, shade the results from the top to the bottom and press the summation command. This would give you the summary of the results

4. Revelations

A bank debtor was alleged to be owing N100 million and the bank went to court. This procedure revealed that the debtor had suffered excess charges and compound interests to the tune of N150 million. What the lawyers need in most of their legal battles is a meticulous and articulate procedure like this to enable them file a Counter-Claim.

5. Conclusion

The legal community in Nigeria is gradually seeing and accepting the roles played by the Forensic Accountants. This has greatly aided legal victories in courts of law, and this writer is proud to be associated with some of the legal victories..

(Richard's Procedure was developed by Dr. Richard Mayungbe)

Dr. Richard Mayungbe

Nigeria Country Representative,

Institute of Certified Forensic Accountants, Canada

www.forensicglobal.org

E-mail: forensicnigeria@gmail.com

Tel: +2348033467639

HUMAN BIOMETRIC EVIDENCE IN FORENSIC INVESTIGATION: THE NIGERIA CHALLENGE

2015-08-19T14:36:00.000-07:00

HUMAN BIOMETRIC EVIDENCE IN FORENSIC INVESTIGATION, THE CHALLENGES OF NIGERIA

(Richard Mayungbe, PhD, CPFA, Member ACFE Advisory Council)

Introduction:

Biometrics refers to metrics related to human characteristics. Essentially, biometrics is the science and technology of measuring and statistically analyzing human biological data. In information technology, biometrics usually refers to technologies for measuring and analyzing human body characteristics such as:

fingerprints
eye retinas and irises
voice patterns,
facial patterns and
hand measurements, especially for authentication purposes

Authentication by biometric verification is becoming increasingly common in corporate and public security systems, consumer electronics and point of sale (POS) applications. In addition to security, the driving force behind biometric verification has been convenience.

Biometric devices, such as finger scanners, consist of:

· A reader or scanning device

· Software that converts the scanned information into digital form and compares match points

· A database that stores the biometric data for comparison

To prevent identity theft, biometric data is usually encrypted when it's gathered. Here's how biometric verification works on the back end: To convert the biometric input, a software application is used to identify specific points of data as match points. The match points in the database are processed using an algorithm that translates that information into a numeric value. The database value is compared with the biometric input the end user has entered into the scanner and authentication is either approved or denied.

Types of Biometrics

DNA Matching

Chemical Biometric: The identification of an individual using the analysis of segments from DNA.

Ear

Visual Biometric: The identification of an individual using the shape of the ear.

Eyes - Iris Recognition

Visual Biometric: The use of the features found in the iris to identify an individual.

Eyes - Retina Recognition

Visual Biometric: The use of patterns of veins in the back of the eye to accomplish recognition.

Face Recognition

Visual Biometric: The analysis of facial features or patterns for the authentication or recognition of an individual’s identity. Most face recognition systems either use eigen faces or local feature analysis.

Fingerprint Recognition

Visual Biometric: The use of the ridges and valleys (minutiae) found on the surface tips of a human finger to identify an individual.

Finger Geometry Recognition

Visual/Spatial Biometric: The use of 3D geometry of the finger to determine identity.

Gait

Behavioural Biometric: The use of an individuals walking style or gait to determine identity.

Hand Geometry Recognition

Visual/Spatial Biometric: The use of the geometric features of the hand such as the lengths of fingers and the width of the hand to identify an individual.

Odor

Olfactory Biometric: The use of an individual’s odor to determine identity.

Signature Recognition

Visual/Behavioral Biometric: The authentication of an individual by the analysis of handwriting style, in particular the signature. There are two key types of digital handwritten signature authentication, Static and Dynamic. Static is most often a visual comparison between one scanned signature and another scanned signature, or a scanned signature against an ink signature. Technology is available to check two scanned signatures using advances algorithms. Dynamic is becoming more popular as ceremony data is captured along with the X,Y,T and P Coordinates of the signor from the signing device. This data can be utilised in a court of law using digital forensic examination tools, and to create a biometric template from which dynamic signatures can be authenticated either at time of signing or post signing, and as triggers in workflow processes.

Typing Recognition

Behavioral Biometric: The use of the unique characteristics of a person’s typing for establishing identity.

Vein Recognition

Vein recognition is a type of biometrics that can be used to identify individuals based on the vein patterns in the human finger or palm.

Voice / Speaker Recognition

There are two major applications of speaker recognition:

Voice - Speaker Verification / Authentication

Auditory Biometric: The use of the voice as a method of determining the identity of a speaker for access control.
If the speaker claims to be of a certain identity and the voice is used to verify this claim. Speaker verification is a 1:1 match where one speaker's voice is matched to one template (also called a "voice print" or "voice model"). Speaker verification is usually employed as a "gatekeeper" in order to provide access to a secure system (e.g.: telephone banking). These systems operate with the user's knowledge and typically require their cooperation.
For example, presenting a person’s passport at border control is a verification process - the agent compares the person’s face to the picture in the document.

Voice - Speaker Identification

Auditory Biometric: Identification is the task of determining an unknown speaker's identity.
Speaker identification is a 1:N (many) match where the voice is compared against N templates. Speaker identification systems can also be implemented covertly without the user's knowledge to identify talkers in a discussion, alert automated systems of speaker changes, check if a user is already enrolled in a system, etc.
For example, a police officer compares a sketch of an assailant against a database of previously documented criminals to find the closest match(es).
In forensic applications, it is common to first perform a speaker identification process to create a list of "best matches" and then perform a series of verification processes to determine a conclusive match.

Note: There is a difference between speaker recognition (recognising who is speaking) and speech recognition (recognising what is being said). These two terms are frequently confused, as is voice recognition. Voice recognition is a synonym for speaker, and thus not speech, recognition. In addition, there is a difference between the act of authentication (commonly referred to as speaker verification or speaker authentication) and identification.

CHARACTERISTICS OF BIOMETRIC SYSTEMS

These are the important factors necessary for any effective biometric system:

· accuracy,

· speed and throughput rate,

· acceptability to users,

· uniqueness of the biometric organ and action,

· resistance to counterfeiting,

· reliability,

· data storage requirements,

· enrollment time,

· intrusiveness of data collection, and

· subject and system contact requirements.

Accuracy
Accuracy is the most critical characteristic of a biometric identifying verification system. If the system cannot accurately separate authentic persons from impostors, it should not even be termed a biometric identification system.
False Reject Rate
The rate, generally stated as a percentage, at which authentic, enrolled persons are rejected as unidentified or unverified persons by a biometric system is termed the false reject rate. False rejection is sometimes called a Type I error. In access control, if the requirement is to keep the “bad guys” out, false rejection is considered the least important error. However, in other biometric applications, it may be the most important error. When used by a bank or retail store to authenticate customer identity and account balance, false rejection means that the transaction or sale (and associated profit) is lost, and the customer becomes upset. Most bankers and retailers are willing to allow a few false accepts as long as there are no false rejects.
False rejections also have a negative effect on throughput, frustrations, and unimpeded operations, because they cause unnecessary delays in personnel movements. An associated problem that is sometimes incorrectly attributed to false rejection is failure to acquire. Failure to acquire occurs when the biometric sensor is not presented with sufficient usable data to make an authentic or impostor decision. Examples include smudged prints on a fingerprint system, improper hand positioning on a hand geometry system, improper alignment on a retina or iris system, or mumbling on a voice system. Subjects cause failure to acquire problems, either accidentally or on purpose.
False Accept Rate
The rate, generally stated as a percentage, at which unenrolled or impostor persons are accepted as authentic, enrolled persons by a biometric system is termed the false accept rate. False acceptance is sometimes called a Type II error. This is usually considered to be the most important error for a biometric access control system.
Crossover Error Rate (CER)
This is also called the equal error rate and is the point, generally stated as a percentage, at which the false rejection rate and the false acceptance rate are equal. This has become the most important measure of biometric system accuracy.
All biometric systems have sensitivity adjustment capability. If false acceptance is not desired, the system can be set to require (nearly) perfect matches of enrollment data and input data. If tested in this configuration, the system can truthfully be stated to achieve a (near) zero false accept rate. If false rejection is not desired, this system can be readjusted to accept input data that only approximate a match with enrollment data. If tested in this configuration, the system can be truthfully stated to achieve a (near) zero false rejection rate. However, the reality is that biometric systems can operate on only one sensitivity setting at a time.
The reality is also that when system sensitivity is set to minimize false acceptance, closely matching data will be spurned, and the false rejection rate will go up significantly. Conversely, when system sensitivity is set to minimize false rejects, the false acceptance rate will go up notably. Thus, the published (i.e., truthful) data tell only part of the story. Actual system accuracy in field operations may even be less than acceptable. This is the situation that created the need for a single measure of biometric system accuracy.
The crossover error rate (CER) provides a single measurement that is fair and impartial in comparing the performance of the various systems. In general, the sensitivity setting that produces the equal error will be close to the setting that will be optimal for field operation of the system. A biometric system that delivers a CER of 2% will be more accurate than a system with a CER of 5%.
Speed and Throughput Rate
The speed and throughput rate are the most important biometric system characteristics. Speed is often related to the data processing capability of the system and is stated as how fast the accept or reject decision is annunciated. In actuality, it relates to the entire authentication procedure: stepping up to the system; inputting the card or PIN (if a verification system); input of the physical data by inserting a hand or finger, aligning an eye, speaking access words, or signing a name; processing and matching of data files; annunciation of the accept or reject decision; and, if a portal system, movement through and closing the door.
Generally accepted standards include a system speed of 5 seconds from startup through decision annunciation. Another standard is a portal throughput rate of 6 to 10/minute, which equates to 6 to 10 seconds/person through the door. Only in recent years have biometric systems become capable of meeting these speed standards, and, even today, some marketed systems do not maintain this rapidity. Slow speed and the resultant waiting lines and movement delays have frequently caused the removal of biometric systems and even the failure of biometric companies.
Acceptability to Users
System acceptability to the people who must use it has been a little noticed but increasingly important factor in biometric identification operations. Initially, when there were few systems, most were of high security and the few users had a high incentive to use the systems; user acceptance was of little interest. In addition, little user threat was seen in fingerprint and hand systems.
Biometric system acceptance occurs when those who must use the system — organizational managers and any union present — all agree that there are assets that need protection, the biometric system effectively controls access to these assets, system usage is not hazardous to the health of the users, system usage does not inordinately impede personnel movement and cause production delays, and the system does not enable management to collect personal or health information about the users. Any of the parties can effect system success or removal. Uncooperative users will overtly or covertly compromise, damage, or sabotage system equipment. The cost of union inclusion of the biometric system in their contracts may become too costly. Moreover, management has the final decision on whether the biometric system benefits outweigh its liabilities

COMPARISON of the advantages and disadvantages of biometric technologies

What are the goodness and weakness about the current technology?

What are the goodness and weakness about the current technology?

Each one of the Technologies used in our days bring us a manner to restrict the access to a system, allowing the entrance only to those persons who know a specific code, own a card or have determined physic marks. The more complex is the system, the most difficult is to be attacked, although it will be more expensive and will require more software and hardware resources. When a new authentication system is implanted, it is essential a judgement between simplicity, price and efficiency, as well as social acceptability.

The password method is the cheapest and simplest technology, because it only requires elementary software resources.

On the other hand, this system is easily attackable, since he is quite simple to obtain the data from a person, either extracting the information to the person itself using deceits, or attacking the software of the system. For example, it can be easily installed in the computer, a program that simulates the “user name and password” window, so that when the user introduces his data in that window, that will be collected by the “Spy” program. Immediately after this, it appears the true window, identical, and the user will simply believe that he has been mistaken. So, this method, in spite of being usually used, for example, to access banking accounts, is not at all the most indicated if we want a safe system, and in a short-time future is tried to be changed by most immune methods.

The Smart Cards are very useful since they can be easily combined with other authentication systems, serving as storage system. Self-containment of smart card makes it resistant to attack as it does not need to depend upon potentially vulnerable external resources. But its small size and bend requirements (which are designed to protect the card physically), limits the memory and processing resources. And used like the only identification system, is not excessively trustworthy, since it can be easily stolen, lost or simply forgotten at home. Besides, sometimes they are combined with cryptography methods, which makes them more difficult (more expensive) to implement.

The Digital Signature is very difficult to falsify, since is encrypted by complicated mathematic operations. It is considered that is even less falsifiable than the manual signature recognition (although this last is already enough trustworthy).

The advantage that Biometrics presents is that the information is unique for each individual and that it can identify the individual in spite of variations in the time (it does not matter if the first biometric sample was taken year ago).The pillars of e-learning security are: authentication, privacy (data confidentiality) authorization (access control), data integrity and non-repudiation. Biometric is a technique that can provide all this requirements with quite lot reliability.

Although biometrics is considered the most effective and safe method (is very difficult to falsify), we have to bear in mind its disadvantages, for example, that since it is a relative new technology, it is not still integrated in PC, so IT departments need to make a conscious decision before making the purchase and change its structure.

We also have to consider the advantages and disadvantages of each individual system. In the next paragraphs, we will make an enumeration of the problems that these techniques can present:

Facial recognition:

Advantages:

a. Non intrusive

b. Cheap technology.

Disadvantages

a. 2D recognition is affected by changes in lighting, the person’s hair, the age, and if the person wear glasses.

b. Requires camera equipment for user identification; thus, it is not likely to become popular until most PCs include cameras as standard equipment.

Voice recognition:

Advantages:

a. Non intrusive. High social acceptability.

b. Verification time is about five seconds.

c. Cheap technology.

Disadvantages:

a. A person’s voice can be easily recorded and used for unauthorised PC or network.

b. Low accuracy.

c. An illness such as a cold can change a person’s voice, making absolute identification difficult or impossible.

Signature recognition:

Advantages:

a. Non intrusive.

b. Little time of verification (about five seconds).

c. Cheap technology.

Disadvantages:

a. Signature verification is designed to verify subjects based on the traits of their unique signature. As a result, individuals who do not sign their names in a consistent manner may have difficulty enrolling and verifying in signature verification.

b. Error rate: 1 in 50.

DNA:

Advantages:

a. Very high accuracy.

b. It impossible that the system made mistakes.

c. It is standardized.

Disadvantages:

a. Extremely intrusive.

b. Very expensive.

Retinal scanning:

Advantages:

a. Very high accuracy.

b. There is no known way to replicate a retina.

c. The eye from a dead person would deteriorate too fast to be useful, so no extra precautions have to been taken with retinal scans to be sure the user is a living human being.

Disadvantages:

a. Very intrusive.

b. It has the stigma of consumer's thinking it is potentially harmful to the eye.

c. Comparisons of template records can take upwards of 10 seconds, depending on the size of the database.

d. Very expensive.

Iris recognition:

Advantages:

a. Very high accuracy.

b. Verification time is generally less than 5 seconds.

c. The eye from a dead person would deteriorate too fast to be useful, so no extra precautions have to been taken with retinal scans to be sure the user is a living human being.

Disadvantages:

a. Intrusive.

b. A lot of memory for the data to be stored.

c. Very expensive

Fingerprint:

Advantages:

a. Very high accuracy.

b. Is the most economical biometric PC user authentication technique.

c. it is one of the most developed biometrics

d. Easy to use.

e. Small storage space required for the biometric template, reducing the size of the database memory required

f. It is standardized.

Disadvantages:

a. For some people it is very intrusive, because is still related to criminal identification.

b. It can make mistakes with the dryness or dirty of the finger’s skin, as well as with the age (is not appropriate with children, because the size of their fingerprint changes quickly).

c. Image captured at 500 dots per inch (dpi). Resolution: 8 bits per pixel. A 500 dpi fingerprint image at 8 bits per pixel demands a large memory space, 240 Kbytes approximately → Compression required (a factor of 10 approximately).

Hand Geometry:

Advantages:

a. Though it requires special hardware to use, it can be easily integrated into other devices or systems.

b. It has no public attitude problems as it is associated most commonly with authorized access.

c. The amount of data required to uniquely identify a user in a system is the smallest by far, allowing it to be used with SmartCards easily.

Disadvantages:

a. Very expensive

b. Considerable size.

c. It is not valid for arthritic person, since they cannot put the hand on the scanner properly.

Creation of Human Biometric Data Base in Nigeria

As at the time of writing this paper, almost 4 times had Nigeria engaged in biometric capture exercise under different name and purpose viz:

GSM Telecommunication biometric sim registration
National Identity biometric registration
INEC Voters Card biometric registration
Bank Verification Number biometric registration

In all the above cases, security is the primary purpose of the exercise while the secondary purpose is convenience and efficiency.

Biometric Data are useful in:

· Airport security

· Building Access

· Cars

· Blood Banks

· Schools and Colleges, even Universities

· ATM

· Payroll

· Government

· Aviation

· Military

· Healthcare

· Welfare

· Workers Attendance

· POS

· Border Control and Immigration

· Voting

· Students Attendance

· Student Examination

· KYC as in Banking

· Internet Banking

· Crime Control

· Forensic Investigation

The usage is endless

Forensic Investigation

An investigation is a

· scrutiny,

· exploration

· examination,

· inquiry,

· research

· an active effort to find out something

· a systematic and thorough attempt to learn the facts about something complex or hidden

· it is often formal and official

· an orderly attempt to obtain information about or to make a test of something

When forensic is involved in the letters of the investigation, it simply means that the end product of such investigation is intended for litigation or judicial purpose, Tribunal or Panel or public discussion.

Most investigative tasks follow this sequence:

· definition and establishment of objectives,

- identifying customers for outputs

- determining what outputs customers want

- defining specifications for desired outputs

· planning work flows to achieve those objectives,

- selecting a process to produce the outputs

- defining tasks, cost, schedules required by the process

- assuring resources to the process

- defining the process controls needed

· staffing the work with capable personnel

- establishing personnel specifications

- selecting competent personnel

- preparing personnel for tasks

- providing needed support

- ensuring proper staff compensation

· directing implementation of the planned process

- assuring supervision of work

- implementing monitoring plan

- adapting process to inputs, changes

- tracking progress

· ensuring that deliverables achieve desired objectives.

- verifying specified quality of work products

- ensuring timely delivery

- soliciting customer feedback

- satisfying problems, complaints

Synergy of Biometric Data bases in Nigeria

As we have seen here, Nigeria could deploy a synergy of all the captured biometric data in the four instances mentioned above to build a robust biometric data base for the purpose of forensic investigation.

It is a common fact that the greatest task before the investigator is ‘to connect to the clue’. Biometric data creates the roadmap to arriving at the elusive clue in most of the criminal investigations all over the world.

This is an area in our investigative expertise that has not been adequately harnessed and should as a matter of importance be looked into.

Another important point is how to collect the fingerprint specimen from the scene of crime, given that in white collar crime, it is a bit easier, while in violent crime a different procedure is required.

The challenge before most African countries is how to build and deploy the all important biometric data base for crime control and forensic investigation. It should not be impossible to identify the bad eggs in our midst if most European countries and indeed America is able to do it.

In conclusion, biometric database is crucial and indispensable in forensic investigation and evidence collection.

References:

Margaret Rouse (whatls.com) Tech Target
https://en.wikipedia.org/wiki/Biometric
www.wired.com/2013/01/biometrics/
www.biometrics.pbworks.com/w/page/14811349/Advantages%20and%20disadvantages%20of%20technologies

Institute of Certified Forensic Accountants :: How to Get Certified

2014-07-28T14:37:00.001-07:00

Institute of Certified Forensic Accountants :: How to Get Certified

PLEASE GIVE CREDIT FOR MATERIALS USED FROM THIS BLOG

Call +2348033467639 or e-mail: forensicnigeria@gmail.com

(CREATIVE ACCOUNTING, FINANCIAL STATEMENT FRAUD, MONEY LAUNDERING AND INVESTIGATION & EXPERT WITNESS TESTIMONY)

2014-03-14T02:26:00.000-07:00

1. Pre-reading materials

2. Overview of Creative Accounting

3. Methods of Creative Accounting

4. Techniques and the red flags of fraud

5. The Fraud Triangle

6. What is a Red Flag?

7. Why are Red Flags important?

8. The Importance of Red Flags for Fraud

9. General Red Flags

10. Opportunity Red Flags

11. Employee Red Flags

12. Management Red Flags Changes in Behaviour “Red Flags”

13. Red Flags in Cash/Accounts Receivable

14. Red Flags in Payroll

15. Red Flags in Purchasing/Inventory

16. How minority shareholders get cheated

17. Fraud Perpetrated through the Development of False Financial Statements

18. Financial Statement Fraud

19. Internal Controls

20. Financial Statement Fraud: Detecting the Red Flags

21. Detection methods for general financial statement frauds

22. Specific Red Flags

23. Fraud Categories

24. Fraud perpetrated through the misuse of corporate resources

25. Fraud perpetrated through third party intervention

26. Fraud perpetrated through false revenue recognition

27. Fraud perpetrated through derivatives

28. Money Laundering – definition

29. Examples of Money Laundering Activities

30. Fraud in computer environment

31. Legal Issues in Prevention of Fraud

32. Trans-Jurisdictional Problems

33. Sentencing

34. Economic justification for eliminating Fraud

35. Social justification for eliminating Fraud

36. International justification for eliminating Fraud International justification for eliminating Fraud

37. Moral justification for eliminating Fraud

38. Mechanisms for dealing with Fraud

39. The organizational planning framework for forensic audit and investigation

40. Investigation and Expert Witness Testimony

41. What is fraud investigation

42. Fraud investigation versus Accounting Audit

43. Steps in Conducting a Fraud Investigation

44. Forensic Accountants traits

45. Physical Indicators during interview

46. Types of Witnesses

47. Qualification of Witness and Rule of Evidence

48. Quality of Evidence

49. Security and Confidentiality

50. Dealing with Lawyers and court room situation

51. Example of Expert Witness Testimony

52. References

Call or mail the author for this paper: Dr. Richard Mayungbe +2348033467639

DIVORCE AND THE ROLE OF FORENSIC ACCOUNTANTS

2014-03-14T02:13:00.000-07:00

THE ROLE OF FORENSIC ACCOUNTANTS IN DIVORCE

Is Divorce About Liberty, Law Or Money?

What do you think drives divorce, Is it Unfettered Liberty, Law or Money?

Some people think divorce is all about the law. And this makes sense because the divorce process legally dissolves the union of marriage.

Unfortunately, more than 20 couples this writer interviewed about their knowledge of the Marriage Act confirmed no knowledge of this law before getting married. This means that none of the couples realized the responsibilities that go along with marriage. All they know is right, right and rights that they are entitled to in marriage!

Other people think divorce is all about money. After all, three of the four main topics addressed in divorce are related to financial matters:

child support
spousal support or maintenance
equitable distribution of marital assets and
liabilities

During a divorce, it is necessary to divide the marital assets between the two parties. This is known as equitable distribution. As part of a typical divorce case, a court will review the income and assets of the husband and wife and create an equitable, but not necessarily even, distribution of the marital property.

Equitable Distribution

Most courts use a three-step process to determine an equitable distribution.

· The court must first decide the specific property of each spouse that is eligible or subject to distribution.

· Then, it must determine its value for purposes of the distribution.

· Thirdly, it must decide how such allocation can most equitably be made.

The guideline factors that courts look to when determining an equitable distribution include:

respective age, background and earning ability of the parties
duration of the marriage
the standard of living of the parties during the marriage
what money or property each brought into the marriage
the present income of the parties
the property acquired during the marriage by either or both parties
the source of acquisition
the current value and income producing capacity of the property
the debts and liabilities of the parties to the marriage
the present mental and physical health of the parties
the probability of continuing present employment at present earnings or better in the future
effect of distribution of assets on the ability to pay alimony and support
gifts from one spouse to the other during marriage

The court is also allowed to consider “any other factors it may deem relevant.” In most cases, the equitable distribution can be accomplished by examining the bank accounts and property records of the parties.

In some cases, however, this is not enough. In cases involving high net worth business owners, the process can become much more complex.

The Role of Forensic Accountants

In these cases, it is necessary to engage Forensic Accountants to ascertain all of the assets and income streams before one can determine what the equitable division will be. Assets may be hidden or missing, income may not be reflected accurately and bank records may appear incomplete.

In closely held businesses, family businesses and professional partnerships, an objective valuation may be difficult except an expert is called upon.

Record keeping can be “informal,” incomplete or practically nonexistent. Corporate or other formalities may not be observed. The books may be deficient or missing from year to year. There may be unreported income (i.e. cash) that is not reflected in bank

The failure to reflect or account for this cash causes an incomplete or incorrect reflection of lifestyle income, and valuation of assets, in particular, for the very business that generated the cash income.

A Forensic Accountant is an expert who produces accounting reports that are used for litigation purposes and as part of their creed they “follow the money.” They will look at income, assets, property records, transactions, loans and any other aspect of the financial affairs of a party and their business to attempt to construct a true picture of the economic situation. They may have to:

analyze a large volume of transactions
trace assets
present value calculations
perform a “lifestyle audit
determine the “true” income stream of the spouse for support purposes
value a closely-held business

Why Forensic Accountants

During a divorce, it is imperative that the true financial data be used to perform the equitable distribution, as well as support the analysis.

While you can modify a support amount upon a showing of “changed circumstance,” once the distribution is finalized, it is virtually impossible to change it.

Thus, when a lifestyle does not seem to be supported by the reported income and assets, it is necessary to attempt to find out where the money is coming from.

Sometimes, this may indicate illegal activity. Other times, it may be a conscious effort by a divorce litigant to hide income from their spouse, the court or other relevant authorities.

When valuing an asset that is difficult to value, a court looks at the reasonableness of the valuation method in determining whether the valuation is adequate.

How to Value an Asset with No Market

In the case of a closely-held business, valuation is particularly difficult because the entities stock is not available on the public market.

In certain instances, to compute the value, experts and courts may look towards the guidelines found in various stock valuation models as enunciated by the experts. The goal is to arrive at a fair market value for a stock for which there is no market.

Among the factors listed as fundamental and requiring careful analysis are:

the history of the firm
the nature of the company
the outlook for the industry
the book value of the stock
the size of the block to be valued
the market price of stock in the same or similar line of business
the earnings and dividend-paying capacities of the company
the existence of goodwill or other intangible assets

Because of the difficulty in dealing with these issues, you will certainly need a Forensic Accountant to work with your legal counsel to discover the assets and, in the case of a business, to determine their value.

Your divorce attorney can help you obtain the services of a Forensic Accountant to properly value the assets involved in your divorce and analyze the income reported by your spouse in an effort to validate or dispute the levels of income claimed.

Richard Mayungbe

Certified Professional Forensic Accountant

E-mail: forensicrichard@gmail.com

Tel: +234 8033467639

EFFECTIVE FRAUD & CORRUPTION MANAGEMENT

2013-11-24T06:37:00.000-08:00

EFFECTIVE FRAUD & CORRUPTION MANAGEMENT

CONFERENCE PAPER

1^ST NATIONAL FORENSIC CONFERENCE,

YAOUNDE, CAMEROON

March 20-22, 2013

Dr. Richard Mayungbe

E-mail: richardmayungbe@gmail.com

www.richardmayungbe.blogspot.com

+2348033467639

Tel: +16462028832

· Definition of fraud, How Fraud Occurs, Various Fraud Schemes and targets.

Introduction:

It is a great pleasure to welcome all delegates to this brain storming conference aimed at pulling our collective wisdom together in finding effective solutions to one of Africa’s nagging problems, “Fraud and Corruption”

For the next 3 days, we shall be here together on this matter.

Definition of Fraud:

There is no single accepted definition of fraud. It is impossible to provide a comprehensive definition of fraud. Indeed, it may be possible to distinguish between two general types of definition: a general broader one and a criminal narrower one. However, all definitions have one thing in common - an element of dishonesty or deceit.

There are many dictionary definitions of the word 'fraud' each is similar but not exactly the same.

Such expressions as:

· Unfair advantage by unlawful or unfair means;

· Knowingly making a false representation;

· Intentional deception resulting in injury to another person;

· Something intended to deceive; deliberate trickery intended to gain an advantage;

· An intentional perversion of truth; deceitful practice or device resorted to with intent to deprive another of property or other right;

· The intentional and successful employment of cunning, deception, collusion; or artifice used to cheat or deceive another person whereby that person acts upon it to the loss of his property and to his legal injury;

· The act of leading a person to believe something which you know to be false in a situation where you know the person will rely on that thing to their detriment;

· A deception, intended to wrongfully obtain money or property from the reliance of another on the deceptive statements or acts, believing them to be true;

· The intentional perversion of the truth in order to mislead someone into parting with something of value

The specific legal definition varies by legal jurisdiction, but fraud is a crime, and is also a civil law violation.

From the point of view of the criminal law, fraud could be defined as criminal deception, being the use of false representations to obtain unfair advantage or to harm the interests of another.

To deceive is to induce someone to believe that a thing is true which is false, and which the person practicing the deceit knows or believes to be false. To defraud is to deprive by deceit: it is by deceit to induce someone to act to his injury.

Fraud has nine elements:

1. a representation of an existing fact;

2. its materiality;

3. its falsity;

4. the speaker's knowledge of its falsity;

5. the speaker's intent that it shall be acted upon by the plaintiff;

6. plaintiff's ignorance of its falsity;

7. plaintiff's reliance on the truth of the representation;

8. plaintiff's right to rely upon it; and

9. consequent damages suffered by plaintiff.

How Fraud Occurs

Fraud, like other crimes, can best be explained by three factors:

1) A supply of motivated offenders;

2) The availability of suitable targets;

3) The absence of capable guardians or a control system.

When economic climate declines, it is likely to raise the risk of fraud. As individuals and companies suffer financially, more people may be tempted to cross the line of legality and engage in fraud to maintain the lifestyles they had enjoyed during better times. Imagine the pressures that may be on individuals stagnant earnings, no bonuses, stiff competition, irresponsive governments, the possibility of job losses – all of these, and more, increase the likelihood of an individual and even organisations to commit fraud.

Smaller business are overall more susceptible because they generally don’t have as many people in place to separate job functions and put controls in place. The culture is usually open and trusting. Layoffs have caused even more holes to exist. Potential fraudsters may find plenty of opportunities to launch their schemes.

Some of the Ways Occupational Fraud Occurs include:
-Skimming cash receipts
-Falsifying expense reports
-Forging or tampering with company checks
-Falsifying pay roll records
-Falsifying bills and invoices
-Stealing cash –Larceny
-Stealing other physical assets
-Stealing intellectual assets and information
-Corruption
-Financial statement fraud

Various Fraud Schemes and Targets

Fraud is as numerous as the languages under the sun! Let us compile the most popular ones taking our source from the Association of Certified Fraud Examiners 2012 Global Fraud Study:

Occupational Fraud – This type of fraud falls into 3 categories viz:

• Asset misappropriation schemes, in which an employee steals or misuses the organization’s resources (e.g., theft of company cash, false billing schemes or inflated expense reports) The targets here are the employers, private or public.

• Corruption schemes, in which an employee misuses his or her influence in a business transaction in a way that violates his or her duty to the employer in order to gain a direct or indirect benefit (e.g., schemes involving bribery or conflicts of interest) The targets are internal and external clients of the organization

• Financial statement fraud schemes, in which an employee intentionally causes a misstatement or omission of material information in the organization’s financial reports (e.g., recording fictitious revenues, understating reported expenses or artificially inflating reported assets) The targets are shareholders, the investing public, banks and financial institutions, suppliers, customers, inland revenue, and many other stakeholders.

BANK FRAUDS

Bank and banking related fraud can occur in many ways from cheque fraud to credit card fraud.

Cheque Fraud is responsible for the loss of about $815 million yearly, which is nearly 12 times the amount robbed from banks each year. Many types of cheque scams exist and include:

· Forged Signatures – involves forging a signature on legitimate blank check

· Forged Endorsement – includes endorsing and cashing or depositing a stolen check

· Counterfeit Checks – is on the rise with the advancement in color copying and desktop publishing

· Altered Checks – where a person changes the name of the payee or dollar amount on a legitimate check

· Uninsured Deposits: occurs when illegitimate companies persuade customers with high rates of interest or offshore secrecy to avoid paying taxes. These companies are not monitored or authorized by any federal bank or financial institution, meaning depositors do not receive protection or insurance on their investments from any state or federal institution.

· Credit Card Fraud: is a common type of fraud that affects millions each year. Statistics show that credit card causes $500 million in damages to card companies and credit card holders. So, it’s wise to learn how to keep your credit card and bank documents safe to prevent credit fraud from happening to you. And, if you suspect that you’re a target of credit fraud contact your bank or credit card company immediately to check for fraud and to disable your card.

· Falsification of Loan Applications: also known as Loan Fraud. It occurs when a person produces false information to qualify for a loan, such as a mortgage for their house. Sometimes, loan officers may be in on the fraud.

· Stolen Checks

Some fraudsters obtain access to facilities handling large amounts of checks, such as a mailroom or post office or the offices of a tax authority (receiving many checks) or a corporate payroll or a social or veterans' benefit office (issuing many checks). A few checks go missing; accounts are then opened under assumed names and the checks (often tampered or altered in some way) deposited so that the money can then be withdrawn by thieves. Stolen blank checkbooks are also of value to forgers who then sign as if they were the depositor.

· Demand draft fraud

Demand draft fraud is usually done by one or more dishonest bank employees. They remove few DD leaves or DD books from stock and write them like a regular DD. Since they are insiders, they know the coding, punching of a demand draft. These Demand drafts will be issued payable at distant town/city without debiting an account. Then it will be cashed at the payable branch. For the paying branch it is just another DD. This kind of fraud will be discovered only when the head office does the branch-wise reconciliation, which normally will take 6 months. By that time the money is unrecoverable.

· Rogue traders

A rogue trader is a highly placed insider nominally authorized to invest sizeable funds on behalf of the bank; this trader secretly makes progressively more aggressive and risky investments using the bank's money, when one investment goes bad, the rogue trader engages in further market speculation in the hope of a quick profit which would hide or cover the loss.

Unfortunately, when one investment loss is piled onto another, the costs to the bank can reach into hundreds of millions of dollars; there have even been cases in which a bank goes out of business due to market investment losses.

Some of the largest bank frauds ever detected were perpetrated by currency traders John Rusnak, and Nick Leeson. Jérôme Kerviel, allegedly defrauded Société Générale of 4.9 billion euros ($7.1 billion) while trading stock derivatives.

· Fraudulent loans

One way to remove money from a bank is to take out a loan, a practice bankers would be more than willing to encourage if they know that the money will be repaid in full with interest. A fraudulent loan, however, is one in which the borrower is a business entity controlled by a dishonest bank officer or an accomplice; the "borrower" then declares bankruptcy or vanishes and the money is gone. The borrower may even be a non-existent entity and the loan merely an artifice to conceal a theft of a large sum of money from the bank.

· Forged or fraudulent documents

Forged documents are often used to conceal other thefts; banks tend to count their money meticulously so every penny must be accounted for. A document claiming that a sum of money has been borrowed as a loan, withdrawn by an individual depositor or transferred or invested can therefore be valuable to a thief who wishes to conceal the minor detail that the bank's money has in fact been stolen and is now gone.

· Bill discounting fraud

Essentially a confidence trick, a fraudster uses a company at their disposal to gain confidence with a bank, by appearing as a genuine, profitable customer. To give the illusion of being a desired customer, the company regularly and repeatedly uses the bank to get payment from one or more of its customers. These payments are always made, as the customers in question are part of the fraud, actively paying any and all bills raised by the bank. After time, after the bank is happy with the company, the company requests that the bank settles its balance with the company before billing the customer. Again, business continues as normal for the fraudulent company, its fraudulent customers, and the unwitting bank. Only when the outstanding balance between the bank and the company is sufficiently large, the company takes the payment from the bank, and the company and its customers disappear, leaving no-one to pay the bills issued by the bank.

· Booster cheques

A booster cheque is a fraudulent or bad cheque used to make a payment to a credit card account in order to "bust out" or raise the amount of available credit on otherwise-legitimate credit cards. The amount of the cheque is credited to the card account by the bank as soon as the payment is made, even though the cheque has not yet cleared. Before the bad cheque is discovered, the perpetrator goes on a spending spree or obtains cash advances until the newly-"raised" available limit on the card is reached. The original cheque then bounces, but by then it is already too late.

· Prime bank fraud

The "prime bank" operation which claims to offer an urgent, exclusive opportunity to cash in on the best-kept secret in the banking industry, guaranteed deposits in "prime banks", "constitutional banks", "bank notes and bank-issued debentures from top 500 world banks", "bank guarantees and standby letters of credit" which generate spectacular returns at no risk and are "endorsed by the World Bank" or various national governments and central bankers. However, these official-sounding phrases and more are the hallmark of the so-called "prime bank" fraud; they may sound great on paper, but the guaranteed offshore investment with the vague claims of an easy 100% monthly return are all fictitious financial instruments intended to defraud individuals.

IDENTITY FRAUD

Identity theft is a serious crime affecting as many as 10 million Americans a year (as estimated by the Federal Trade Commission) and accounting for the loss of $221 billion a year worldwide (as estimated by the Aberdeen Group) Identity theft occurs when someone uses your personally identifying information (like your name, social security number, or credit card information) to pretend to be you. The identity thief does this for his own personal gain at the expense of his victim.

This is fraud and it could result in serious consequences for the victim such as bad credit reports or even warrants for the victim's arrest, depending on what the thief chooses to do with the victim's personal information.

An identity thief may use your information to:

· Open a new credit card, phone, or utilities account in your name and then run up the bills without paying them. The delinquent account then appears on your credit report.

· Open a bank account and write bad cheques in your name, apply for a loan in your name, or use your bank information to drain your account.

· File a fraudulent tax return, or apply for government benefits in your name.

· Get a driver's license with your information but his own picture on it.

· Give your personal information to police during an arrest. Then when he does not show up for the court date, a warrant of arrest is issued in your name.

There are a number of methods a skilled identity thief may use to steal your information. These include:

· Shoulder Surfing: watching you from a nearby location as you punch in your pin codes or listening as you give someone else your personal information over the phone

· Dumpster Diving: rummaging through your trash to find bills or other documents with your name and personal information on them

· Stealing: stealing mail (including bills, credit card statements, credit card offers, and tax information), or even stealing wallets and purses to gain access to documents with your personal information on them

· Bribing: bribing employees (such as government, bank, or credit card company employees) who have access to your personal information

· Pretexting: using false pretenses to obtain your personal information from banks, phone, credit companies, and other companies

· Skimming: using a special storage device to scan and remember your credit and debit card numbers when you use your cards

· Phishing: pretending to be a financial institution or other company (like a lotto company) and sending you spam or pop-up advertisements to persuade you to reveal your personal information

· Changing your address: completing a change of address form to divert your billing statements and other mail to another location where this information is easily accessible

The following is a list of warning signals indicating that you may be a victim of identity theft:

· Your credit card statement includes purchases you didn't make or your bank statement includes withdrawals you didn’t make

· You receive a credit card that you did not apply for

· You are denied credit or offered less favorable credit than your past spending deserves

· You get a denial of credit that you didn't apply for

· You receive credit card or bank statements in your name but you do not hold the account they're billing you for

· You no longer receive credit card, bank, or utilities statements.

· You applied for a credit card or bank account but you are not getting a card or statements

· You notice some of your mail is missing

· You receive notice of a mail redirection request you didn't make

· You receive bills from companies you don't recognize

· There are credit cards or loans that you didn't open listed on your credit history

· Your credit report reveals inquiries from companies you never dealt with

· Debt collection companies try to collect debts that aren't yours

· You are arrested for a crime you didn't commit

COMPUTER FRAUDS

Computer fraud is the use of information technology to commit fraud. In the United States, computer fraud is specifically proscribed by the Computer Fraud and Abuse Act, which provides for jail time and fines.
Types of computer fraud vary and can be complex or simple. Simple types of fraud might include:

Sending hoax emails intended to scare people.
Illegally using someone else’s computer or “posing” as someone else on the Internet.
Using spyware to gather information about people.

These actions are computer fraud because they are deliberate misrepresentations of the truth. They progress into more harmful actions as they grow more complex and include:

Emails requesting money in return for “small deposits.”
Pyramid schemes or investment schemes via computer with the intent to take and use someone else’s money.
Emails attempting to gather personal information to be used to access and use credit cards or social security numbers.
Using someone else’s computer to access personal information with the intent to use such fraudulently.
Using the computer to solicit minors into sexual alliances.
Violating copyright laws by copying information with the intent to sell information, like DVDs, CDs.
Hacking into computer systems to gather large amounts of information for illegal purposes.
Hacking into or illegally using a computer to change information, such as grades, work reports, etc.
Sending computer viruses or worms with the intent to destroy or ruin someone else’s computer.

· Even though there are stiff penalties for committing computer fraud, laws governing against it may be difficult to enforce. Some of the email scams for investment opportunities and get rich quick schemes originate outside of the US, and it may be difficult to instigate investigations on foreign soil. It’s therefore wise to be wary and commit to the following computer philosophy when you’re on the net:

1) Do not give personal information to anyone or to any company you’ve never heard of before. This includes your full name, your address, your phone number, credit card number, social security numbers, or information about the people in your household.

2) Do not pay attention to get rich quick schemes. If they seem too good to be true, they absolutely are.

3) Do not open emails from strangers. Install anti-viral software and spam blocking programs on your computer and your email program.

4) Don’t download attachments from people you don’t know.

5) Teach your children about safe communication on the Internet to protect them from Internet predators.

6) Don’t keep passwords on your computer, and do not use common passwords like the names of your kids, birthdays, or other guessable words. Never give your password to someone else.

CORRUPTION IN PUBLIC PROCUREMENT
Corruption is defined by the World Bank and Transparency International (TI) as “the misuse of public office for private gain.” As such, it involves the improper and unlawful behavior of public-service officials, both politicians and civil servants, whose positions create opportunities for the diversion of money and assets from government to themselves and their accomplices
There are two widely-acknowledged dimensions of corruption—supply and demand-side. Supply- side is the private sector that gifts or bribes the government officials who, in turn, constitutes the demand-side or the receivers. Over the past two decades, anti-corruption measures have targeted only the demand-side either by limiting the government officials’ vulnerability to bribes or in-kind gifts through enactment of laws or by empowering the people through advocacy against the demand-side corruption. Although legal measures against the demand-side corruption are important in their own right, we have often ignored the role of the private sector as a supplier of corrupt payments and a vulnerable sector for corruption itself

Previously, the private sector believed that corruption exists because the government officials are corrupt and did not consider itself as encouraging corruption. Over the years, the private sector has been established as an equal participant in corruption transaction, and efforts to limit its ability and vulnerability to engage in corruption are therefore, equally and urgently needed. In our mainstream corruption debate, demand-side often draws the attention while supply-side is hardly a matter of public concern. Though the activism against corruption in post-1990 period scaled up new heights in terms of awareness, capacity building and empowerment, yet there has not been much advocacy to address the supply side of corruption.

Over the years, the private sector has been established as an equal participant in corruption transaction. However, in our mainstream corruption debate, demand-side often draws the attention while supply-side is hardly a matter of public concern.

Corruption is a central and a growing challenge for businesses and society— from informal vendors in the least developed countries (LDCs) to multinational companies in the industrialized ones—for citizens, communities and countries, all over the world. Corruption in private sector directly impedes development and makes a few people rich at the cost of many. Lack of a coherent policy and an in-built system to prevent corruption within the corporate sector can distort the national economy and limit the growth of the private sector eventually.

As corruption takes place at the interface of the public and private sector, bringing one into the legal net and leaving out the other has made our anti-corruption fight one-sided. We have seen many corporate corruption scandals over the years. But, a few of them have come under the judicial hammer. The Petroleum Subsidy scandals and most recently Lawan/Otedola scam are some of the most notorious corruption swindles in or by the corporate sector. And in most of these cases, supply-side is hardly or inadequately penalized for the offence due to lack of a concrete policy. Taking into account the rapidly changing forms of corruption, we need to address the corruption in and by the private sector as seriously as in the public sector by widening the legal nets to tackle the menace.

Corruption has become so rampant that we now need to review the existing laws to prosecute even the bribers and the corporate corruption. Africa is no exception to this phenomenon as majority of the anti-corruption interventions worldwide have focused on the demand-side only. Though the supply-side doesn’t adequately figure in anti-corruption discourse, it has now become imperative to address this almost ignored dimension by mainstreaming it in governance policies and laws. Dealing with corruption through a two-pronged approach—supply-side and demand-side is now more urgent than ever given its magnitude and its adverse effects on economy, development and democratic system at large.

What causes and fuels corruption

Corruption distorts resource allocation and government performance. The causes are many and vary from one country to the next. Among the contributing factors are:

· Policies, programs and activities that are poorly conceived and managed,

· Failing institutions,

· Poverty and Deprivation

· Income disparities,

· Inadequate civil servants’ remuneration,

· Lack of accountability and transparency.

Political and or Economic Brigandage

EXAMPLES OF CORRUPTION AT VARIOUS STAGES OF PROCUREMENT

Pre-qualification and tender

1. Loser’s fee

2. Price fixing

3. Manipulation of pre-qualification

4. Bribery to obtain main contract award

5. Bribery during sub-contract procurement

6. Corruptly negotiated contract

7. Manipulation of design

8. Specification of overly sophisticated design

9. Inflation of resources and time requirements

10. Obtaining a quotation only for price comparison

11. Concealment of financial status

12. Intention to withhold payment

13. Submission of false quotation

14. Falsely obtaining export credit insurance

Project execution

15. False invoicing: supply of inferior materials

16. False invoicing: supply of less equipment

17. False work certificates

18. Excessive repair work

19. Overstating man-day requirements

20. Inflated claim for variation (1)

21. Inflated claim for variation (2)

22. False variation claim

23. Issue of false delay certificate

24. False extension of time application

25. False assurance that payment will be made

26. Delayed issue of payment certificates

27. Concealing defects (1)

28. Concealing defects (2)

29. Set-off of false rectification costs

30. Refusal to issue final certificate

31. Requirement to accept lower payment than is due

32. Extortion by client’s representative

33. Facilitation payment

34. Overstating of profits

35. False job application

Dispute resolution

36. Submission of incorrect contract claims

37. Concealment of documents

38. Submission of false supporting documents

39. Supply of false witness evidence

40. Supply of false expert evidence

41. Bribery of witness

42. Blackmail of witness

43. False information as to financial status

44. False statement as to settlement sum

45. Over-manning by law firm

46. Excessive billing by lawyer

47. Complicity by lawyer

To enable us do a thorough job on corruption in procurement, a whole week course might be required.

· Psychology of fraud: what motivates the fraudster

* Pressure or Incentive - Perceived need is often created by expensive addictions such as substance abuse, sex addiction, gambling addiction, and spending addiction. Typically, a person committing fraud has an incentive or is under some sort of financial pressure. There may be an unexpected financial crisis in the family or the individual may be living beyond her/his means. Companies are limited in how much they can prevent this. However, companies should be aware of changes in behavior and spending that may raise red flags. Not to trivialize it, but please remember the four 'Bs' of perceived need: Beer, Boobs, Betting, and Borrowing.

Once begun, the fraud typically continues, and even grows. The fraudster gains confidence and becomes accustomed to the enhanced financial situation. Many fraudsters initially tell themselves that the scheme is only temporary. Once the current crisis (or after whatever drove the perpetrator to hatch the scheme in the first place) has passed, the illegal activity will stop. In fact, this rarely occurs. The fraudster grows confident and typically enlarges the scam.

Perpetrators may believe that they will repay the funds after the current crisis passes. They might even develop a plan to save up the amount to repay the funds. Again, repayment of the stolen money rarely occurs, unless the court orders it.

Rationalization - Never underestimate the ability of the human mind to rationalize anything. The criminal mind can actually rationalize a crime as being a benefit to society. Great fraudster Frank Abignale bragged in his book, Catch Me If You Can, that he only bilked large corporations and not individuals. He was doing them a favor by exposing their weaknesses. Fraudsters must be able to rationalize their schemes to themselves or embrace an attitude that the fraud is somehow justified; thus, rationalization or attitude is a factor typically found in a fraud situation. People who commit fraud may be able to convince themselves that the wrongdoing is only temporary and will stop when the financial crisis does. They may believe that they will repay the money. Further, people who commit fraud might feel that they need the money more than the entity. Somehow, they are justified in taking the money or goods or services. They might believe that they deserve the extra money, perhaps to right a perceived injustice.

Opportunity - This is one area that companies have the ability to control. Opportunity is the means to steal whether it is leaving the supply closet unlocked or an inadequate system of internal control and segregation of duties. There may be a lack of adequate controls in place. The fraudster is able to take advantage of that shortcoming in the system of internal control and where suitable controls are in place, the individual may be able to override the system. The perpetrator may be at a high level in the organization and have the authority to bypass the system. The presence of all three factors or points of the triangle heightens the likelihood of fraud occurring in an organization. The higher the level of a specific factor that is present, the more likely it is that a fraud has occurred.

OCCUPATIONAL FRAUD

The term "occupational fraud and abuse" is broadly defined as "the use of one's occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization's resources or assets”

This happens mostly through the under listed fraudulent schemes:

LARCENY

Larceny, according to Black's Law Dictionary, is "felonious stealing, taking and carrying, leading, riding, or driving away with another person's property, with the intent to convert it or to deprive the owner thereof.

The key element in a larceny scheme is the fact that there is no effort to cover up the theft. Unlike the skimming schemes defined below, the cash has already been recorded on the books. In general, cash larceny schemes are not a high risk area for businesses. Presumably because adequate physical controls exist over the custody of cash in most organizations, these schemes accounted for only one percent of the total losses identified in the study

SKIMMING

"Skimming" is the embezzlement of cash from an entity prior to its being recorded on the books

GROUP CASE STUDY 1

Take a look at the result of the Association of Certified Fraud Examiners Survey on various cases of fraud in 2012

Summary of Findings of the ACFE in 2012 Report to the Nation

• Survey participants estimated that the typical organization loses 5% of its revenues to fraud each year. Applied to the 2011 Gross World Product, this figure translates to a potential projected annual fraud loss of more than $3.5 trillion.

• The median loss caused by the occupational fraud cases in our study was $140,000. More than one-fifth of these cases caused losses of at least $1 million.

• The frauds reported to us lasted a median of 18 months before being detected.

• As in our previous studies, asset misappropriation schemes were by far the most common type of occupational fraud, comprising 87% of the cases reported to us; they were also the least costly form of fraud, with a median loss of $120,000. Financial statement fraud schemes made up just 8% of the cases in our study, but caused the greatest median loss at $1 million.

Corruption schemes fell in the middle, occurring in just over one-third of reported cases and causing a median loss of $250,000

Occupational fraud is more likely to be detected by a tip than by any other method.

The majority of tips reporting fraud come from employees of the victim organization.

• Corruption and billing schemes pose the greatest risks to organizations throughout the world. For all geographic regions, these two scheme types comprised more than 50% of the frauds reported to us.

• Occupational fraud is a significant threat to small businesses. The smallest organizations in our study suffered the largest median losses.

These organizations typically employ fewer anti-fraud controls than their larger counterparts, which increases their vulnerability to fraud.

• As in our prior research, the industries most commonly victimized in our current study were the banking and financial services, government and public administration, and manufacturing sectors.

• The presence of anti-fraud controls is notably correlated with significant decreases in the cost and duration of occupational fraud schemes. Victim organizations that had implemented any of 16 common anti-fraud controls experienced considerably lower losses and time-to-detection than organizations lacking these controls.

Perpetrators with higher levels of authority tend to cause much larger losses. The median loss among frauds committed by owner/ executives was $573,000, the median loss caused by managers was $180,000 and the median loss caused by employees was $60,000.

• The longer a perpetrator has worked for an organization, the higher fraud losses tend to be. Perpetrators with more than ten years of experience at the victim organization caused a median loss of $229,000. By comparison, the median loss caused by perpetrators who committed fraud in their first year on the job was only $25,000.

• The vast majority (77%) of all frauds in our study were committed by individuals working in one of six departments: accounting, operations, sales, executive/upper management, customer service and purchasing. This distribution was very similar to what we found in our 2010 study.

• Most occupational fraudsters are first-time offenders with clean employment histories.

Approximately 87% of occupational fraudsters had never been charged or convicted of a fraud related offense, and 84% had never been punished or terminated by an employer for fraud-related conduct.

Required:

1. Against the backdrop of the above revelations, write a professional letter of recommendation to the appropriate minister, detailing how to deal with the problems of fraud in your country.

rEFERENCES/fURTHER READING:

· http://legal.practitioner.com/regulation/standards_9_2.htm

· www.acfe.com/fraud-triangle.aspx

· http://en.wikipedia.org/wiki/Fraud

· http://www.acfe.com/fraud-prevention-checkup.aspx

· http://www.transunion.com/personal-credit/identity-theft-and-fraud/tips-to-prevent-fraud.page

· Strategic Fraud Detection: A Technology-Based Model, Conan C. Albrecht and W. Steve Albrecht (Rollins Centre for e-Business)

· http://www.transparency.org/research/cpi/overview

· Report to the Nation, 2012 by the ACFE

DAY 2

INTERVIEWING FOR FRAUD IN THE AUDIT PROCESS

WHAT THE STANDARDS SAY
Statement of Auditing Standards (SAS) no. 1, Responsibilities and Functions of the Independent Auditor, says, “The auditor has responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.” SAS no. 99, Consideration of Fraud in a Financial Statement Audit, reiterates that concept and places a heavy emphasis on making inquiries. Paragraphs 20 through 26 enumerate those questions that Auditors should ask management in checking for fraud risk.

Paragraph 27 is clear: “The auditor should be aware when evaluating management’s responses to inquiries…that management is often in the best position to perpetrate fraud.” Indeed, therein lies the challenge: Some people in positions of trust commit wrongdoing, and those committing wrongful acts and fraud can—and do—lie to auditors and/or managers/investigators.

Interviews are a useful audit tool to gather information about internal controls and fraud risks for several reasons. First, employees involved in the day-to-day operations of a functional area possess the best knowledge of that area. They are in an excellent position to identify weak internal controls and fraud risks. Second, although most employees are not directly involved in fraud, they may have knowledge of suspected, or actual, frauds that interviews can bring to light. Third, employees may be reluctant to tell management about needed internal controls and suspected or actual fraud, even when a company has an ethics hotline, a compliance officer, or other reporting mechanisms. When interviewed, however, employees are often willing, even relieved, to talk about these issues.

The Information Needed In Audit Process

A primary difference between SAS 82 and SAS 99, which superseded it, is that the latter includes expanded requirements for inquiries of management. Making inquiries of management is important because senior management is often in the best position to perpetrate and conceal fraud. In obtaining information necessary to identify the risk of fraud in a financial statement audit, SAS 99 requires auditors to ask the following questions:

Does management communicate its views on ethical business behavior to its employees?
Does management have programs and internal controls designed to prevent, deter, and detect fraud?
Does management discuss with the audit committee of the board of directors how its internal control system serves to prevent, detect, and deter fraud?
Does management understand the fraud risks specific to its business?
Does management monitor fraud risks relevant to specific components or divisions within the entity?
Does management have any knowledge or suspicion of fraud?
Is management aware of any allegations of fraud?

In addition to management inquiries, SAS 99 also requires an auditor to inquire of the audit committee and of internal audit personnel about their views on the company’s fraud risks. Significantly, SAS 99 mandates that other individuals within the company also be questioned about the risk of fraud. Paragraph 24 of SAS 99 states:

The auditor should use professional judgment to determine those others within the entity to whom inquiries should be directed and the extent of such inquiries. In making this determination, the auditor should consider whether others within the entity may be able to provide information that will be helpful to the auditor in identifying risk of material misstatement due to fraud.

SAS 99 suggests that auditors inquire of operating personnel with varying levels of authority, of in-house legal counsel, and of others knowledgeable of fraud risk. Because employees are often aware of where specific fraud risks lie, auditors should understand employees’ views on the risk of fraud. Additionally, auditors should look for discrepancies in information received from various interviewees. Unusual situations or conditions identified through interviews with management and others can be revealing

The purpose of the interview is to learn new facts or to confirm previously obtained information. An interrogation, or “truth-seeking interview,” is in many ways the opposite. The primary difference is the state of mind of the interviewee. In an interview, the interviewee is generally a willing participant assisting the interviewer in the process of determining the facts. An interrogation occurs only when a suspected fraudster has been identified. The interviewer’s task is to persuade the individual to admit to an act or omission that he has no intention of divulging.

Interviewing requires the ability to organize thoughts and discussion along a logical path. Interrogation requires those skills coupled with the ability to persuade an individual to say something that runs contrary to his survival instincts.

Venue of the interview: The interview should have a tone that is formal, friendly, and nonthreatening; should follow a predetermined structure; and should result in meaningful fact-finding. An interviewer should prepare a set of questions and an introductory statement that explains the purpose of the interview. This preparation will set the tone for a serious, purposeful, and effective interview.

The interview should always be conducted in private. If the interviewee’s workstation is not sufficient, then the interviewer should use a meeting room. An interview is most successful when the subject is comfortable and at ease. Most people are more comfortable in their own work environment and when they can answer questions without concern that a coworker might be eavesdropping.

It is essential in the early part of the interview for the auditor to build a rapport with the interviewee in order to encourage an open discussion. Structuring questions to progress from the general to the specific allows the interviewer to first build a rapport, and then observe changes in an interviewee’s behavior that may signal a suspicious or sensitive topic as the questions become more focused. Skilled interviewers are always cognizant of indicators of deception that may be displayed by any individual attempting to mislead the interviewer. False statements, however, are not always indicators of fraud; they may be covering up an individual’s perceived personal or professional deficiencies.

Making a false statement during an audit interview is stressful for most people. When a false statement is made, the interviewee releases the stress verbally, nonverbally, or in both ways. Indicators of deception vary from individual to individual. They can be as subtle as a change in voice tone or as obvious as a sudden change in complexion. A skilled interviewer must be trained to identify these indicators and have a thorough understanding of their potential significance.

Because the main purpose of the fact-finding interview is to seek information, open-ended questions should be emphasized. Questions should be structured to encourage the interviewee to volunteer information. For example, “What internal control problems do you have in your department with respect to cash receipts?” will likely provide more information than the closed-ended question, “Are all daily cash receipts deposited intact?” Interviewers should be good listeners and never interrupt an open-ended response. One of the last questions asked in each interview should be very open-ended; for example, “Is there anything else you would like to tell me regarding the operations of your department?” or “Have I failed to discuss an important topic with you?” Joseph Wells, chairman and founder of the Association of Certified Fraud Examiners, advises that the last question should be whether the interviewee has participated in any fraudulent activities against the company. Asking this question provides documentation that may prove invaluable if a lawsuit involving financial statement fraud or asset misappropriation occurs later.

To minimize legal risk, auditors should gear the discussion solely toward fact-finding questions or statements and away from accusatory questions or statements. For example, asking, “Have you stolen any inventory from the company?” is acceptable, but asking, “You have stolen inventory in the past from the company, haven’t you?” is not, due to the embedded accusation.

Interview Subjects

SAS 99, paragraph 6, identifies the two types of fraud that auditors should be aware of as “misstatements arising from fraudulent financial reporting and misstatements arising from misappropriation of assets.” As a result, inquiries should be directed toward individuals concerned with financial reporting as well as those with direct or indirect access to the company’s assets.

The CEO and the CFO should be carefully interviewed by a partner or experienced audit manager about their knowledge or suspicion of fraud. These executives have the power to override internal controls, and therefore are in a position to perpetrate and conceal fraud. Their administrative assistants may be privy to sensitive information and may suspect or be aware of fraudulent activity, and should also be interviewed. Individuals may be aware of fraudulent activities but not disclose them unless specifically asked.

DAY 3: FRAUD INVESTIGATION

INVESTIGATION AND EXPERT WITNESS TESTIMONY

PRE-READING NOTE

A fraud investigation can cover a wide variety of issues and actions. Fraud investigations and forensic enquires may not involve actual fraud or corrupt behavior but may instead be concerned with a breach of company policy, a problem with health and safety, harassment, or an investigation into security. Fraud itself is defined as a misrepresentation that is intended to deceive a person or business. Companies can be accused of fraud if they make claims about a product they sell that are untrue or made up only in order to make a profit. Fraud investigations are carried out to determine whether fraud has taken place or whether there is evidence of the fraud. Fraud can cause serious problems not only concerning loss of money but physical harm to people and harm to reputations. Fraudulent behavior or unethical actions can impact strongly on a business. Unethical behavior can bring emotional as well as financial trauma from which a business may take years to recover.

Fraud investigations occur when fraud is suspected, and the fraud investigator meets with the client to find out what is alleged to have happened. When fraudulent behavior is known to have taken place, the investigator focuses on why and how it occurred and what can be done to prevent it happening again in the future.

Fraud investigations cover a number of procedures, including the thorough analysis of electronic data. Computer forensics is vitally important when dealing with fraudulent or unethical actions in businesses today.

It can reveal evidence that would otherwise never have come to light — evidence can be hidden within mountains of electronic data, and only professional computer forensic investigators will be able to uncover it. Computer forensics is one of the first procedures to be carried out in a fraud investigation — making sure that dates and time stamps on files are not changed, and that critical information is not overwritten.

A fraud investigation should always be carried out from an objective position and supported by documented evidence. The investigation should be carried out by a neutral professional, so that the company can ensure it is seen to be complying with a commitment to objectivity. The practices used within a fraud investigation should be consistent and thorough.

INVESTIGATION AND EXPERT WITNESS TESTIMONY

Forensic Accountants are often called upon to initiate a fraud investigation for the primary purpose of determining whether a fraud has occurred. Other reasons for initiating a fraud investigation include the following: a tip or concern received (from an employee, a vendor, a customer, or other source), an accidental discovery, fraud uncovered as a result of an audit, or a concern from the business as to the adequacy of their internal controls system.

Fraud Investigation

A fraud investigation is the systematic examination to obtain the truth as to:

1. Whether a fraud has occurred

2. Who is involved

3. How it was perpetrated

4. How much is involved

Fraud Investigation versus Accounting Audit

While a fraud investigation requires the use of both accounting and investigatory skills, it is vastly different from an accounting audit. Joseph T. Wells, the founder of the Association of Certified Fraud Examiner (ACFE), has said, “A good fraud examiner is part accountant, part psychologist, and part lawyer,” There are four key areas in which a fraud investigation differs from a financial statement audit. Target, Purpose, Techniques employed, and Required Standards.

Example - Key Areas of Fraud Investigation Differing From Financial Statement Audit.

	Target	Purpose	Techniques Employed	Required Standards
Financial Statement Audit	Examination of financial ,data, i.e financial statements	Express an opinion on the financial data i.e, financial statements	Audit sampling examination of financial data confirmation	SAS No.99 requires auditors to approach audits using professional skepticism
Fraud Investigation	Resolve one or more very specific allegations of fraud	Determine if fraud has occurred, who is involved, and what do they know		Sufficiency of proof in order to either prove or disprove the fraud allegation

The differences between forensic accounting/fraud investigation and auditing can be explained by how they vary by scope, nature, purpose, frequency, methods used, and presumption.

Steps in Conducting a Fraud Investigation

Overview

The process known as a fraud investigation, or fraud examination, is best described as a thorough inquiry. The forensic accountant is searching for information in order to determine the truth. There are five key steps in conducting the investigation:

-gathering record,

-looking for patterns,

-determining possible fraud theories,

- interviewing witnesses,

- and the report.

Gather the Records

Forensic accountants are well-acquainted with the activities of this step, mainly to gather documents used within the organization. Records would include vendor invoices, customer invoices, cancelled checks and bank statements, purchase orders and receiving reports.

Look for Patterns and Irregularities

After gathering the necessary organizational document, the forensic accountant will review and analyze the documents to look for patterns and irregularities. The accountant may use analytical procedures, sampling techniques, and ratio analysis in order to determine if patterns or irregularities exist within the data.

Determine Possible Fraud Theories

After inspecting and analyzing the documents, the forensic accountant will be able to develop a possible fraud theory (or multiple theories). The theory will identify potential schemes and methods used. As theories are developed, the accountant will need to “test” the theory to determine likely scenarios for the fraud.

Interview the witnesses

This step is undertaken usually to support an allegation of fraud. Before beginning this step, the forensic accountant should recommend that the clients advise their legal counsel. There may be additional considerations to include, for which the attorney can be a resource.

Write the report

Great care needs to be given to writing the report, and a separate chapter of this text addresses the critical elements of a written report.

Fraud Interview Questions

A fraud interview is nothing more than a structured meeting in which questions are designed to elicit information from witnesses. The interviewer may be scheduled to ask only one question, but more often, the interview is comprised of a series of questions. There is an art to asking questions, and the means to acquiring the artful skill is through practice.

· Fraud examiners should conduct the interview in a manner so as to ensure the individuals privacy, and the interview should be conducted under reasonable circumstances. They must ensure that they are not accusing the individual of the fraud in the course of the interview.

· The fraud examiner should be direct in asking the subject specifically if she/he has committed the fraud. If the case should go to litigation and the examiner is attacked professionally, she/he would be able to respond that all individuals in question, during the course of the investigation, were asked if they were involved with the fraud. This establishes that the fraud examiner did not avoid her/his professional responsibility.

INTERVIEWING FRAUD SUSPECTS

Good Fraud Interview

A good interview should be succinct, but last long enough to disclose the significant facts. The interview should also occur as soon after the event as possible, in order to avoid losing key details. The interview should be conducted privately, so that others can neither hear nor observe the interview.

Forensic Accountants

Forensic accountants can increase their success as interviewers by advocating these seven key attributes:

1. Organized

The interviewer should know, in advance, the primary questions to ask. She/he should write them down and spend time reviewing them prior to the interview. The interviewer should be sure to organize and review the records, documentation and be familiar with the specific areas needing to be examined. Most fraud investigations include interviews with those who have general knowledge and interviews with others who will have specific knowledge, so be sure to give consideration to the source of information each witness can provide.

The interviewer should be organized and focused. The interviewer should stay on task and not use diversionary tactics to trick the witness.

2. Engaged

Outward demeanor is vital in establishing rapport. The interviewer should wear appropriate attire, and when the interviewer first meets the interviewee, she/he should introduce her/himself in a friendly manner. The interviewer should try to put the other person at ease with a warm smile, friendly handshake, and pleasant eye contact. The interviewer should keep in mind that most witnesses will want to share what they know with her/him, so allow the interviewees to “tell their story”.

3. Thoughtful

The interviewer should ask the interviewee if she/he is comfortable, or whether she/he needs something to eat or drink. Showing consideration for the other person, especially if she/he is a suspect, will allow the building of cooperation. It is good for the interviewer to establish a rapport before beginning the question. It is good idea to spend a few minutes engaging the interviewee in some “small talk” before explaining the purpose of the interview.

Example - Poor Example for Interviewer’s Introduction

Hi, miss Brennan, I’m Dr. Richard, and I’m with Richard & Linus Forensic Accountants, I’m here to find out what you know about the recent employee embezzlement case. I believe you know a lot about what happened, and I’m here to find it out.

Example – Good Example for Interviewer’s Introduction

Hi, miss Brennan. I’m Dr. Richard. I’m not sure we’ve met before, but I appreciate you taking some help and wondered if you might have a few minutes to spend with me?

4. Listening

The interviewer should be careful not to talk too much. The interviewer is there to glean details of what the witness knows, so she/he should provide information and then allow the witness to answer. A good balance of time for the interviewer is 20 percent talking and 80 percent listening.

5. Flexible

While some interviewers like to have their questions written down, it is good to remain flexible during interview process. As the witness provides information, new details may be disclosed. If the interviewer strictly follows a script of questions, she/he will, most likely, miss asking questions about the uncovered information, which could be crucial to the investigation. It may be good instead, to have key thoughts noted in a short version. This would also help guard against the witness reading your questions in advance.

6. Observant

Another reason to omit having a script of questions is that it allows the interviewer to be observant to the nonverbal behavior of the witness. Individuals have a relaxed body language that charges when they are under stress. The interviewer will want to watch for the changes and note their body language when the witnesses are responding to the easy questions, and how behavior changes when they are replying to the more difficult questions. Understanding the changes will help assess whether the witness is responding truthfully.

7. Non-Threatening

If the witness perceives she/he is a target of the inquiry, she/he will be less likely to cooperate. The interviewer should appear fair in the line of questioning and phrase the questions in a non-accusatory manner. The interviewer should not interrupt the witness as she/he is answering the questions. The witness will be more compliant if the interviewer expresses interest in hearing her/his story, appears non-judgmental, and displays respect.

Understanding Body Language

Communication with others is expressed not only through our words and tone, but is also represented through our body language, As fraud examiners, we want to focus on charges within the behavior, as change may be an indicator of deception. When an individual attempts to deceive, her/his body experiences stress. As she/he increases her/his deception, so does the level of stress increases. The more stress created in the body, the easier it is to observe the stress.

The presence of physical indicators (see list below) may not indicate a witness acting in a deceptive manner. The subject may just be extremely nervous; however, it is necessary to watch the changes (or clusters of changes) within the indicators.

The following is a list of some physical indicators:

1. Placing hand in front of mouth when speaking

2. Excessive blinking or blinking too quickly

3. Frequent touching of the nose (the nose is especially sensitive to stress)

4. Raising of eyebrows

5. Crossing of arms or legs

6. Lack of eye contact (or an excess of eye contact)

7. Tapping of fingers feet

8. Frequent swallowing

9. Constant touching of hands to face or head

10. Holding tightly to arms of chair

11. Sweating

12. Shifting posture

It is not uncommon for someone who is innocent to display some of the above indicator behaviors, especially as the interview first begins. The role of a fraud examiner is to reduce the amount of anxiety the witness is experiencing. Then, as the interview continues, note any changes, which signal changes to the subject’s level of stress.

GROUP CASE STUDY

In late December, Emeka Yaqoob, a former loan officer with Suwegbe Bank (N254 billion in assets) of Shrine Estate, Okija., reached a plea agreement in Ajirebi District court after being indicted on 18 counts of bank fraud stemming from his employment at Suwegbe. According to the Department of Justice, Yaqoob falsified loan documents between 2004 and 2005. He is reportedly facing up to 41 years in a federal prison now.

Internal fraud such as that committed by Yaqoob occurs every day in banks across the world. Typical U.S. organization loses 5 percent of its annual revenue to internal fraud, and the banking industry is the hardest hit, according to the 2012 Report to the Nation on Occupational Fraud and Abuse published by the Association of Certified Fraud Examiners. The ACFE reports that 14.3 percent of all internal fraud cases occur at banks, with a median loss of N41.2million per case.

Still, “Banks continue to focus most of their investment and attention on external fraud applications, despite the fact that internal fraud is the larger problem," contends Christine Barry, an analyst who says 60 percent of bank fraud cases are committed by employees. "Internal fraud is a serious problem and one which they are not paying enough attention to”.

Required:

1. Recommend a company-wide approach aimed at eliminating this menace or at least minimizing such incidents.

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EXAMPLE OF AN EXPERT WITNESS TESTIMONY IN NIGERIA

IN THE HIGH COURT OF LAGOS STATE

IN THE LAGOS JUDICIAL DIVISION

HOLDEN AT LAGOS

SUIT NO: LD/?/201?

BETWEEN:

OJORO BANK PLC ……………………………………. CLAIMANT

AND

JAGUDA INTERNATIONAL LIMITED …………………........... DEFENDANT

WRITTEN STATEMENT ON OATH OF THE WITNESS BROUGHT PURSUANT TO ORDER 3 RULE 2 (1) OF THE HIGH COURT OF LAGOS STATE (CIVIL PROCEDURE) RULES 2004

I, DR. RICHARD MAYUNGBE, Male, Christian, Certified Forensic Accountant, Financial Expert and Fraud Examiner of 135, Igbosere Road, Lagos, Lagos State, Nigeria do hereby make oath and state as follows:

1. That I am a Financial Expert, having qualified as a holder of the Doctorate Degree (PhD) with specialization in Finance.

2. That I am further qualified as a Financial Expert by holding the Master of Business Administration (MBA) with specialization in Finance.

3. That I am a Certified Forensic Accountant and a Fraud Examiner and hold the Professional Certification(CPFA) of the Institute of Certified Forensic Accountants of Canada, and the Associate of the Institute of Certified Fraud Examiners, (ACFE) of Texas, U.S.A.

4. That I am a Fellow of the Institute of Company & Commercial Accountants, Fellow of the Institute of Credit Administration, and an Associate of the Institute of Credit Management , (UK).

5. That I am duly licensed by the Securities and Exchange Commission (SEC) to offer professional advisory services in Nigeria and my firm F.A.R Mayungbe & Co is registered with the Corporate Affairs Commission (CAC) to carry out these services.

6. That I am an Adviser to Messrs. JAGUDA International Limited, the Defendant, on matters of accounting, finance, credit, investment, and management.

7. That I have the consent and authority of the Defendant to depose to this affidavit and by virtue of my position, I am conversant with the facts of this case.

8. That the Defendant called for my services through its Chief Accountant Mrs. Elizabeth Shoocushoocu sometimes in April 2010 in respect of its Account with Ojoro Bank of Nigeria Plc. Account Number 00000/001/001/000, which was becoming worrisome.

9. That I demanded for the Letter of Offer of the Bank Facility together with the Statements of Account of the Defendants, which was produced by the Claimant and handed over to me to enable me establish the true position of the account and advise the Defendant appropriately.

10. That I carried out my work as engaged and produced a Report for the Defendant’s easy reference. This document shall be relied upon at the trial of this suit.

11. That While I was going through the statement of account of the Defendant, together with the letter of offer, I discovered that N150 million was approved by the Claimant for the Defendant.

12. That the agreed and approved interest rate was 17% per annum and the interest on PRINCIPAL should be MONTHLY SERVED.

13. That the draw-down took place on 30/07/07.

14. That surprisingly, the Claimant debited the first interest charges on 31/07/07 (the second day of the draw-down) against item 12 above.

15. That rather than calculating interests as offered, interests were charged arbitrarily as per the attachments to the Forensic Accounting Reports. The attachment shall be relied upon at the trial of this suit.

16. That the average monthly interest as agreed was 1.42%, but the average monthly interest charged was 1.75% in contravention of the offer and acceptance of the facility.

17. That by their letter of February 23, 2009, ref: U/C/OO/T/00/0/09, the Claimant approved a concessionary sum of N169,849,119.63 as full and final payment to the Claimant.

18. That this is about 4.2% rebate, although on an incorrectly calculated balance by the Claimant.

19. That subjecting this rebate to a clean balance of N169,251,000 as at January 2009, the new concessionary balance as full and final payment for the Defendant now stands at N162,142,458.00

20. That the above balance is after taking into consideration all the re-payments to the Claimant, totaling N17,030,000

That I swear to this affidavit in good faith.

…………………………………………………………

DEPONENT

SWORN TO AT

THE HIGH COURT OF LAGOS REGISTRY

LAGOS THIS………….DAY OF DECEMBER 2010

BEFORE ME

COMMISSIONER FOR OATHS

End of Example

References/Further Reading:

www.aicpa.org/.../FraudPreventionDetectionResponse

INTEGRITY AND INTELLIGENT LEADERSHIP – A TOOL FOR NATIONAL DEVELOPMENT

2013-10-21T14:45:00.001-07:00

INTEGRITY AND INTELLIGENT LEADERSHIP

– A TOOL FOR NATIONAL DEVELOPMENT

Dr. Richard Mayungbe

www.richardmayungbe.blogspot.com

E-mail: richardmayungbe@gmail.com

Tel: 08033467639, 08023019508

ABSTRACT

National Development can be broken down into 3 fundamental processes:

· Planning

· Acting

· Controlling

These processes are found in Management, and National Development involves the management of the national economy, finance, security, education, health, foreign relation etc in such a way that the future of the nation is better than its present condition. These activities cannot be carried out without the involvement of human beings. Those charged with the responsibility of doing this should possess certain qualities far and above the ordinary folks on the street…

Leadership is not for everybody and what qualifies the leaders from the rest of us which we must understand, identify and demand for is “Integrity and Intelligence.”

This is what we shall briefly ex-ray in this paper. At the end of this conference, we should all be able to appreciate this leadership quality and demand for it at any time that the need arises to choose a leader, or subject ourselves to the demand of this quality in preparation for leadership positions.

INTRODUCTION

According to Dwight D. Eisenhower , “The supreme quality for leadership is unquestionably integrity. Without it, no real success is possible, no matter whether it is on a section gang, a football field, in an army, or in an office.”

Then, what is this supreme quality of leadership called “integrity.”

Integrity is defined as “The quality of being honest and having strong moral principles; moral uprightness, Strict adherence to a moral code, reflected in transparent honesty and complete harmony in what one thinks, says, and does.” It is:

strength of character
steadfast and resolute,
walking the talk, doing what he promised
authentic, straightforward, what's on the inside is displayed on the outside
open, honest and direct in their dealings with others
clear and uncompromised values, and clarity about what's right and wrong
committed, with the courage of their convictions
behaviours matched values
principled, honourable, fair, accountable and responsible
self aware and self-reflective
mature and wise

Therefore, the first requirement of leadership is integrity and the second consideration for leadership is ‘Intelligence’. This means that a leader must be intelligent.

So, let us examine the word “Intelligent” derived from intelligence

Being Intelligent refers to a person who is:

· clever,

· bright,

· smart,

· knowing,

· quick,

· sharp,

· acute,

· alert,

· rational,

· enlightened,

· apt,

· discerning,

· knowledgeable,

· astute,

· well-informed,

· brainy,

· quick-witted,

· sagacious.

· He is a person who has a good understanding or a high mental capacity; quick to comprehend.

· displaying quickness of understanding, sound thought, or good judgment

· endowed with the capacity to reason

· showing mental alertness and calculation and resourcefulness

· a sensible person

Ladies and gentlemen, the tragedy that we have found ourselves in this country now is that most of the people who parade themselves as our leaders today, if subjected to the test of Integrity and Intelligent Leadership as enumerated above would be unable to pass such test!

Coupled with all the above is the issue of Emotional Intelligence which is the ability to understand and manage your own emotions and those of the people around you.

As a leader, having emotional intelligence is essential for success. After all, who is more likely to succeed – a leader who shouts at his team when he's under stress, or a leader who stays in control, and calmly assesses the situation? (we shall talk about this later)

WHAT IS YOUR LEADERSHIP STYLE?

From our own Sir Abubakar Tafawa Balewa, Dr. Nnamdi Azikwe, Chief Obafemi Awolowo, Mahatma Gandhi of India, Winston Churchill of United Kingdom to Martin Luther King and Steve Jobs of the USA, there seem to be as many ways to lead people as there are leaders.

Fortunately, Management Experts have developed useful, simple ways to describe the main styles of leadership.

By understanding these styles and their impact, you can develop your own approach to leadership and become a more effective leader.

We'll look at some common, well-known leadership styles, and we'll explore situations where these styles may be effective with your people.

Adapting Your Approach to Leadership

In business, a leadership style called "transformational leadership" is often the most effective approach to use. Transformational leaders have integrity, they inspire people with a shared vision of the future, they set clear goals, they motivate people towards these goals, they manage delivery, and they communicate well with their teams.

· People will always follow a person who inspires them.

· A person with vision and passion can achieve great things.

· The way to get things done is by injecting enthusiasm and energy.

However, leadership is not "one size fits all" thing; often, you must adapt your style to fit a situation or a specific group. This is why it's useful to gain a thorough understanding of other leadership styles; after all, the more approaches you're familiar with, the more you can shape your approach to the situation.
Let's take a look at some of the leadership styles that you can use.

1. Autocratic Leadership

Autocratic leadership is an extreme form of transactional leadership, where leaders have a lot of power over their people. Staff and team members have little opportunity to make suggestions, even if these would be in the team's or the organization's best interest.
The benefit of autocratic leadership is that it's incredibly efficient. Decisions are made quickly, and work gets done efficiently.
The downside is that most people resent being treated this way. Therefore, autocratic leadership can often lead to high levels of absenteeism and high staff turnover. However, the style can be effective for some routine and unskilled jobs: in these situations, the advantages of control may outweigh the disadvantages.
Autocratic leadership is often best used in crises, when decisions must be made quickly and without dissent. For instance, the military often uses an autocratic leadership style; top commanders are responsible for quickly making complex decisions, which allows troops to focus their attention and energy on performing their allotted tasks and missions.

2. Bureaucratic Leadership

Bureaucratic leaders work "by the book." They follow rules rigorously, and ensure that their people follow procedures precisely.
This is an appropriate leadership style for work involving serious safety risks (such as working with machinery, with toxic substances, or at dangerous heights) or where large sums of money are involved. Bureaucratic leadership is also useful in organizations where employees do routine tasks (as in manufacturing).
The downside of this leadership style is that it's ineffective in teams and organizations that rely on flexibility, creativity, or innovation.
Much of the time, bureaucratic leaders achieve their position because of their ability to conform to and uphold rules, not because of their qualifications or expertise. This can cause resentment when team members don't value their expertise or advice.

3. Charismatic Leadership

A charismatic leadership style can resemble transformational leadership because these leaders inspire enthusiasm in their teams and are energetic in motivating others to move forward. This ability to create excitement and commitment is an enormous benefit.
The difference between charismatic leaders and transformational leaders lies in their intention. Transformational leaders want to transform their teams and organizations. Charismatic leaders are often focused on themselves, and may not want to change anything.
The downside to charismatic leaders is that they can believe more in themselves than in their teams. This can create the risk that a project or even an entire organization might collapse if the leader leaves. A charismatic leader might believe that she can do no wrong, even when others are warning her about the path she's on; and this feeling of invincibility can ruin a team or an organization.
Also, in the followers' eyes, success is directly connected to the presence of the charismatic leader. As such, charismatic leadership carries great responsibility, and it needs a long-term commitment from the leader.

4. Democratic/Participative Leadership

Democratic leaders make the final decisions, but they include team members in the decision-making process. They encourage creativity, and team members are often highly engaged in projects and decisions.
There are many benefits of democratic leadership. Team members tend to have high job satisfaction and are productive because they're more involved in decisions. This style also helps develop people's skills. Team members feel in control of their destiny, so they're motivated to work hard by more than just a financial reward.
Because participation takes time, this approach can slow decision-making, but the result is often good. The approach can be most suitable when working as a team is essential, and when quality is more important than efficiency or productivity.
The downside of democratic leadership is that it can often hinder situations where speed or efficiency is essential. For instance, during a crisis, a team can waste valuable time gathering people's input. Another downside is that some team members might not have the knowledge or expertise to provide high quality input.

5. Laissez-Faire Leadership

This French phrase means "leave it be," and it describes leaders who allow their people to work on their own. This type of leadership can also occur naturally, when managers don't have sufficient control over their work and their people.
Laissez-faire leaders may give their team complete freedom to do their work and set their own deadlines. They provide team support with resources and advice, if needed, but otherwise don't get involved.
This leadership style can be effective if the leader monitors performance and gives feedback to team members regularly. It is most likely to be effective when individual team members are experienced, skilled, self-starters.
The main benefit of laissez-faire leadership is that giving team members so much autonomy can lead to high job satisfaction and increased productivity.
The downside is that it can be damaging if team members don't manage their time well or if they don't have the knowledge, skills, or motivation to do their work effectively.

6. People-Oriented/Relations-Oriented Leadership

With people-oriented leadership, leaders are totally focused on organizing, supporting, and developing the people on their teams. This is a participatory style and tends to encourage good teamwork and creative collaboration. This is the opposite of task-oriented leadership.
People-oriented leaders treat everyone on the team equally. They're friendly and approachable, they pay attention to the welfare of everyone in the group, and they make themselves available whenever team members need help or advice.
The benefit of this leadership style is that people-oriented leaders create teams that everyone wants to be part of. Team members are often more productive and willing to take risks, because they know that the leader will provide support if they need it.
The downside is that some leaders can take this approach too far; they may put the development of their team above tasks or project directives.

7. Servant Leadership

This term, created by Robert Greenleaf in the 1970s, describes a leader often not formally recognized as such. When someone at any level within an organization leads simply by meeting the needs of the team, he or she can be described as a "servant leader."
Servant leaders often lead by example. They have high integrity and lead with generosity.
In many ways, servant leadership is a form of democratic leadership because the whole team tends to be involved in decision making. However, servant leaders often "lead from behind," preferring to stay out of the limelight and letting their team accept recognition for their hard work.
Supporters of the servant leadership model suggest that it's a good way to move ahead in a world where values are increasingly important, and where servant leaders can achieve power because of their values, ideals, and ethics. This is an approach that can help to create a positive corporate culture and can lead to high morale among team members.
However, other people believe that in competitive leadership situations, people who practice servant leadership can find themselves left behind by leaders using other leadership styles. This leadership style also takes time to apply correctly: it's ill-suited in situations where you have to make quick decisions or meet tight deadlines.
Although you can use servant leadership in many situations, it's often most practical in politics, or in positions where leaders are elected to serve a team, committee, organization, or community.

8. Task-Oriented Leadership

Task-oriented leaders focus only on getting the job done and can be autocratic. They actively define the work and the roles required, put structures in place, and plan, organize, and monitor work. These leaders also perform other key tasks, such as creating and maintaining standards for performance.
The benefit of task-oriented leadership is that it ensures that deadlines are met, and it's especially useful for team members who don't manage their time well.
However, because task-oriented leaders don't tend to think much about their team's well-being, this approach can suffer many of the flaws of autocratic leadership, including causing motivation and retention problems.

9. Transactional Leadership

This leadership style starts with the idea that team members agree to obey their leader when they accept a job. The "transaction" usually involves the organization paying team members in return for their effort and compliance. The leader has a right to "punish" team members if their work doesn't meet an appropriate standard.
Although this might sound controlling and paternalistic, transactional leadership offers some benefits. For one, this leadership style clarifies everyone's roles and responsibilities. Another benefit is that, because transactional leadership judges team members on performance, people who are ambitious or who are motivated by external rewards – including compensation – often thrive.
The downside of this leadership style is that team members can do little to improve their job satisfaction. It can feel stifling, and it can lead to high staff turnover.
Transactional leadership is really a type of management, not a true leadership style, because the focus is on short-term tasks. It has serious limitations for knowledge-based or creative work. However, it can be effective in other situations.

10. Transformational Leadership

As discussed earlier, transformation leadership is often the best leadership style to use in business situations.
Transformational leaders are inspiring because they expect the best from everyone on their team as well as themselves. This leads to high productivity and engagement from everyone in their team.
The downside of transformational leadership is that while the leader's enthusiasm is passed onto the team, he or she can need to be supported by "detail people."
That's why, in many organizations, both transactional and transformational leadership styles are useful. Transactional leaders (or managers) ensure that routine work is done reliably, while transformational leaders look after initiatives that add new value.
It's also important to use other leadership styles when necessary – this will depend on the people you're leading and the situation that you're in.

WHEN LEADERSHIP LACKS INTEGRITY:

Leadership is needed in the corporate world, politics, government, sports, education, religions and in almost everything we do in life.

Most often we read from newspapers about stories of people who demonstrate little or no integrity in their dealings with others, and how they ruin or damage the hope and expectations of others'. There are stories about, Enron, WorldCom etc. The board members who benefited from the fraudulent conducts in those companies, must have subscribed to the principle of 'greed is good' without subjecting their action to the 4 way tests of what we think, say, or do. (Courtesy of Rotary Club’s):

· Is it the TRUTH?

· Is it FAIR to all concerned?

· Will it build GOODWILL and BETTER FRIENDSHIPS?

· Will it be BENEFICIAL to all concerned?

The greatest fallout from a lack of integrity is the loss of trust in governments, institutions, industries, management and individuals.
In the vacuum created when trust is lost, suspicion and paranoia thrive. Is it a surprise any longer that most Nigerians have lost faith in our governments, institutions, management, the business world and those who lead us, and have become distrusting and cynical about the ability of those in authority to give priority to our welfare and wellbeing?
Do we still need to mention those actions and inactions of our leaders in the areas of water, electricity, education, road, security and generally the way our economy is managed? Where is the pension thief?
It is important that we call our leaders at the centre to render regular account of their stewardship to us as is done in Lagos State so we can have an up to date knowledge of what is happening in our country. We detest a system where someone will write an exam, mark his own scripts, grade himself and announce that he had done creditably well. This method is unknown in management!
In the corporate world today, integrity is an old-fashioned virtue that has become a low priority consideration in the quest for increasing profit, market share, votes and tenure.
Apart from individuals, there are also institutions and industries that are perceived to lack integrity. Let me mention that as a Financial Expert and a Forensic Accountant, banking is just one of the industries that people felt could not be trusted. Their perceptions were based on times when they felt they had been ripped off, or their interests as customers had been given low priority compared to the high priority of making a profit. However, there are people who work in these banks who do have integrity, who are honest, put customer needs high on their lists and walk their talk. A critical look at banking business as it is practiced today reveals that integrity and profit are several kilometers away from each other and cannot be mutually exclusive.
The Police, FRSC, LASTMA forms another group that suffers from a public perception of lack of integrity---often with good reason. Recently, we saw the filming of a Policeman at the Murtala Mohammed International Airport using all sorts of unethical methods to extort money from a motorist. Although he was eventually fished out and dismissed. Clearly it takes a great deal of hard work to maintain integrity.

HOW TO LEAD WITH INTEGRITY

Integrity is a quality that encompasses truthfulness, credibility and sincerity. In a leadership position, integrity manifests itself in the way a leader speaks to, guides and reacts to group members. Learning to lead with integrity requires developing self-awareness, adhering to a strict moral code and communicating truthfully with group members, regardless of the complexity of the situation or the possibility of negative consequences. Here are some strategies for leading with integrity.

1. Examine your moral principles. People are raised with or exposed to specific principles regarding right and wrong. These influences may stem from a specific religious upbringing, philosophical beliefs or general observations about the types of behaviors that accelerate progress and development in society

2. Assess the degree to which you adhere to your own moral code. For example, a person might value truthfulness, but withhold important information when truth telling may interfere with being hired or promoted. To manifest integrity, behaviors must be aligned with moral beliefs.

3. Establish a code of values and behaviors for your group members. Whether you are leading a sports team, managing a group of engineers or parenting children, leading with integrity requires outlining a standard of behavior by which others can abide.

4. Lead by example. Adhere at all times to the behavioral standard you have established for the group.

5. Create an atmosphere of open communication.

Communicate authentically. Be open with group members regarding issues and policies that affect them. Keeping secrets or hiding important information can lead to an environment of mistrust.
Listen attentively to others. Open communication involves the exchange of information. Leading with integrity requires hearing what others have to say and creating an environment that fosters open sharing.
Practice tolerance for divergent views. Group members will inevitably have different opinions and thoughts, and may not always agree with you or your decisions. Allow them to hold their opinions without fearing ridicule or rejection.

6. Praise group members for high quality performances. Gain the trust of group members by acknowledging their contributions.

7. Choose leadership positions that allow you to lead with integrity. It will be difficult, if not impossible, to practice integrity in a position in which you are pressured by upper management to conceal important facts or engage in immoral or illegal activities.

8. Speak to your superiors about integrity issues. Some environments lack integrity due to inattention to the company's moral code or values. Suggest to upper management to increase attention to integrity issues by offering mandatory classes or holding relevant discussions in company meetings.

9. Surround yourself with morally upright people. This may mean that you change jobs, limit time spent with certain colleagues or make a special effort to hire honest and trustworthy employees.

10. Study the lives of leaders known for their integrity. Gain inspiration by learning about leaders who delivered difficult news, chose honesty over financial gain or refused to take credit for other people's work.

11. Examine the mistakes of fallen leaders. Study the various examples of business and political leaders who sacrificed their integrity and succumbed to desires for wealth, power or fame.

Consider the same scenarios for yourself. Decide how you would have behaved or reacted in each case.
BEOMING A LEADER WITH INTEGRITY

Understand that your integrity in dealings with others (and yourself) is an essential component of the glue in your relationships. It delivers respect, loyalty, commitment and trust. It's a virtue worthy of your interest.
Find role models who are known for their integrity and watch their values playing out. Watch their behaviour. Learn from their example how they 'do' honesty and openness, how they walk their talk.
Watch someone who is a spectacular failure at integrity and don't follow in his or her footsteps.
Find someone known for his or her integrity to coach and mentor you. Listen to their views and values. Ask them about what integrity means to them. Talk to their staff (with permission) about the quality of their relationships with their staff. Learn from them how to do it. Find out how they go about deciding what to say and do when the pressure is on. How do they wrestle with their sense of right and wrong?
Seriously examine these questions. What do you believe in? What are your values about right and wrong? How did you learn them? What has influenced how you deal with people?
Engage your staff in dialogue about how they feel about the issues that affect them. Talk about integrity generally. Find out how important it is to them. Ask them how they feel when they are let down.
Seek feedback about your staff's perceptions of your integrity---whether or not they trust you to walk your talk. Do they know (and understand) your talk?
Have courage. Integrity is hard work. Be prepared to be disadvantaged sometimes when you make a stand over an issue, or to be inconvenienced when you made a promise.
Be prepared to take the risk of changing the way you deal with others, and yourself.
Do what you say you will do. Don't let people down.

What Is Emotional Intelligence?
Emotional intelligence (EI) is the ability to understand and manage your own emotions, and those of the people around you. People with a high degree of emotional intelligence know what they're feeling, what their emotions mean, and how these emotions can affect other people.
For leaders, having emotional intelligence is essential for success. After all, who is more likely to succeed – a leader who shouts at his team when he's under stress, or a leader who stay in control, and calmly assesses the situation?
According to Daniel Goleman, an American psychologist who helped to popularize EI, there are five main elements of emotional intelligence:

1. Self-awareness.

2. Self-regulation.

3. Motivation.

4. Empathy.

5. Social skills.

The more that you, as a leader, manage each of these areas, the higher your emotional intelligence. So, let's look at each element in more detail and examine how you can grow as a leader.

Emotional Intelligence in Leadership

1. Self-awareness

If you're self-aware, you always know how you feel, and you know how your emotions and your actions can affect the people around you. Being self-aware when you're in a leadership position also means having a clear picture of your strengths and weaknesses, and it means behaving with humility.
So, what can you do to improve your self-awareness?

Keep a journal – Journals help you improve your self-awareness. If you spend just a few minutes each day writing down your thoughts, this can move you to a higher degree of self-awareness.
Slow down – When you experience anger or other strong emotions, slow down to examine why. Remember, no matter what the situation, you can always choose how you react to it.

2. Self-regulation

Leaders who regulate themselves effectively rarely verbally attack others, make rushed or emotional decisions, stereotype people, or compromise their values. Self-regulation is all about staying in control.
This element of emotional intelligence, according to Goleman, also covers a leader's flexibility and commitment to personal accountability.
So, how can you improve your ability to self-regulate?

Know your values – Do you have a clear idea of where you absolutely will not compromise? Do you know what values are most important to you? Spend some time examining your "code of ethics." If you know what's most important to you, then you probably won't have to think twice when you face a moral or ethical decision – you'll make the right choice.
Hold yourself accountable – If you tend to blame others when something goes wrong, stop. Make a commitment to admit to your mistakes and to face the consequences, whatever they are. You'll probably sleep better at night, and you'll quickly earn the respect of those around you.
Practice being calm – The next time you're in a challenging situation, be very aware of how you act. Do you relieve your stress by shouting at someone else? Practice deep-breathing exercises to calm yourself. Also, try to write down all of the negative things you want to say, and then rip it up and throw it away. Expressing these emotions on paper (and not showing them to anyone!) is better than speaking them aloud to your team. What's more, this helps you challenge your reactions to ensure that they're fair!

3. Motivation

Self-motivated leaders work consistently toward their goals, and they have extremely high standards for the quality of their work.
How can you improve your motivation?

Re-examine why you're doing your job – It's easy to forget what you really love about your career. So, take some time to remember why you wanted this job. If you're unhappy in your role and you're struggling to remember why you wanted it, try the Five Whys technique to find the root of the problem. Starting at the root often helps you look at your situation in a new way.
Know where you stand – Determine how motivated you are to lead.
Be hopeful and find something good – Motivated leaders are usually optimistic, no matter what problems they face. Adopting this mindset might take practice, but it's well worth the effort.
Every time you face a challenge, or even a failure, try to find at least one good thing about the situation. It might be something small, like a new contact, or something with long-term effects, like an important lesson learned. But there's almost always something positive, if you look for it.

4. Empathy

For leaders, having empathy is critical to managing a successful team or organization. Leaders with empathy have the ability to put themselves in someone else's situation. They help develop the people on their team, challenge others who are acting unfairly, give constructive feedback, and listen to those who need it.
If you want to earn the respect and loyalty of your team, then show them you care by being empathic.
How can you improve your empathy?

Put yourself in someone else's position – It's easy to support your own point of view. After all, it's yours! But take the time to look at situations from other people's perspectives.
Pay attention to body language – Perhaps when you listen to someone, you cross your arms, move your feet back and forth, or bite your lip. This body language tells others how you really feel about a situation, and the message you're giving isn't positive! Learning to read body language can be a real asset in a leadership role, because you'll be better able to determine how someone truly feels. This gives you the opportunity to respond appropriately.
Respond to feelings – You ask your assistant to work late – again. And although he agrees, you can hear the disappointment in his voice. So, respond by addressing his feelings. Tell him you appreciate how willing he is to work extra hours, and that you're just as frustrated about working late. If possible, figure out a way for future late nights to be less of an issue (for example, give him Monday mornings off).

5. Social skills

Leaders who do well in the social skills element of emotional intelligence are great communicators. They're just as open to hearing bad news as good news, and they're expert at getting their team to support them and be excited about a new mission or project.
Leaders who have good social skills are also good at managing change and resolving conflicts diplomatically. They're rarely satisfied with leaving things as they are, but they don't sit back and make everyone else do the work: They set an example with their own behavior.
So, how can you build social skills?

Learn conflict resolution – Leaders must know how to resolve conflicts between their team members, customers, or vendors. Learning conflict resolution skills is vital if you want to succeed.
Improve your communication skills – How well do you communicate?

Learn how to praise others – As a leader, you can inspire the loyalty of your team simply by giving praise when it's earned. Learning how to praise others is a fine art, but well worth the effort

DEVELOP EMOTIONAL INTELLIGENCE

Research has shown us that more than 90 percent of top leadership performers have a high amount of emotional intelligence.
The higher up the ladder that leaders are, the more people they impact and their EI becomes increasingly important. The person at the top sets the atmosphere that permeates the organization, including the emotional temperature.
Not only does a leader with low emotional intelligence have a negative impact on employee morale, it directly impacts staff retention. We know that the biggest reason that people give for leaving an organization is the relationship with those above them.
Here are five ways to spot an emotionally intelligent leader:

1. Non defensive and open

Insecure leaders that demonstrate low EI become defensive and take it personally whenever they encounter anything that appears to them as criticism and a challenge to their authority.
A secure leader with a healthy dose of emotional intelligence strives to listen, understand and find out what is behind behaviors and actions of those they are responsible for managing. They listen before they respond and if they don’t understand something ask open ended questions that are meant to gather more information.
As opposed to leaders with low emotional intelligence, they don’t make it about them, but look for ways to make the situation better for everyone involved.

2. Aware of their own emotions

Leaders who are oblivious to their own emotions and how they are impacted by them have no awareness of how their words and actions affect others. This can have a very devastating effect on staff morale and lower productivity.
Highly emotionally intelligent leaders are aware of strong emotions and avoid speaking out of anger and frustration. If they feel the urge to give in to strong emotions in their interactions with others, they give themselves a time out, waiting until their emotions have leveled off and they have had a chance to think about the situation.

3. Adept at picking up on the emotional state of others

A skilled and empathetic leader that is aware of other’s emotions is able to use that awareness to develop stronger relationships with those they manage. Even if delivering bad news, they are able to cushion the impact by simply letting the receiver know that they are aware of how they might be feeling.
Leaders with high EI are able to put themselves in place of the person receiving criticism or negative feedback, allowing them to give it in a way that might be more beneficial and less destructive.

4. Available for those reporting to them

Good leaders make themselves available to those reporting to them both physically and emotionally. They are responsive to the fact that there will be times that those reporting to them will be having difficulties outside of work that will impact them.
Death of family members, friends, relationship breakdowns and all sorts of life crisis will affect virtually everyone at work at times. Emotionally open and secure leaders understand are there for support during these times.

5. Able to check their ego and allow others to shine

While possessing self-confidence, high EI leaders do not have a need to demonstrate their own importance or value.
They chose their words carefully and speak and act out of concern for their staff, and the health of the organization. They do not have the need to have their ego massaged and are not looking for ways to take credit for the work of others.
Understanding that people work better when they feel appreciated, they are always looking for ways to show give positive feedback and rewards for a job well done. Secure in their own abilities, they are not threatened by those under them and actively seek to help them work to the best of their capabilities and rise up the organization

COMMUNICATION IN LEADERSHIP

A leader who cannot communicate is a total failure!

Think of how often you communicate with people during your day. You write emails, hold meetings, participate in conference calls, create reports, devise presentations, debate with your colleagues… the list goes on.
We can spend almost our entire day communicating, even the way we carry out the communication requires skills. We can make sure that we communicate in the clearest, most effective way possible.
The 7 Cs of Communication provides a checklist for making sure that your meetings, emails, conference calls, reports, and presentations are well constructed and clear – so your audience gets your message.
The 7 Cs, of communication teaches that communication must be:

Clear.
Concise.
Concrete.
Correct.
Coherent.
Complete.
Courteous.

We look at each of the 7 Cs of Communication, and we'll illustrate each element with both good and bad examples.

1. Clear

When writing or speaking to someone, be clear about your goal or message. What is your purpose in communicating with this person? If you're not sure, then your audience won't be sure either.
To be clear, try to minimize the number of ideas in each sentence. Make sure that it's easy for your reader to understand your meaning. People shouldn't have to "read between the lines" and make assumptions on their own to understand what you're trying to say.

2. Concise

When you're concise in your communication, you stick to the point and keep it brief. Your audience doesn't want to read six sentences when you could communicate your message in three.

3. Concrete

When your message is concrete, then your audience has a clear picture of what you're telling them. There are details (but not too many!) and vivid facts, and there's laser-like focus. Your message is solid.

4. Correct

When your communication is correct, it fits your audience. And correct communication is also error-free communication.

5. Coherent

When your communication is coherent, it's logical. All points are connected and relevant to the main topic, and the tone and flow of the text is consistent.

6. Complete

In a complete message, the audience has everything they need to be informed and, if applicable, take action.

7. Courteous

Courteous communication is friendly, open, and honest. There are no hidden insults or passive-aggressive tones. You keep your reader's viewpoint in mind, and you're empathetic to their needs.

CONCLUSION

There is an urgent need for us to develop and adopt an “Integrity and Intelligence Matrix” to assess all political aspirants, traditional office seekers, intending religious leaders. The aim is to forestall a situation where morally bankrupt and genetically corrupt individuals would become leaders in Nigeria.

How to go about it shall be the subject of another discussion in the nearest future.

Thank you.

DR. RICHARD MAYUNGBE AND CHARLES TANY OF THE MINISTRY OF JUSTICE, CAMEROON

2013-04-01T08:19:00.001-07:00

LINUS AKEPE, AMBASSADOR JACKSON AND DR. RICHARD MAYUNGBE WITH SOME DELEGATES

2013-04-01T08:17:00.001-07:00

AMBASSADOR JACKSON AND DR. RICHARD MAYUNGBE AT THE CONFERENCE

2013-04-01T08:14:00.001-07:00

DELEGATES AT THE 1ST NATIONAL FORENSIC CONFERENCE, YAOUNDE

2013-04-01T08:12:00.002-07:00

1ST NATIONAL FORENSIC CONFERENCE, YAOUNDE, CAMEROON

2013-04-01T08:09:00.003-07:00

1ST NATIONAL FORENSIC CONFERENCE, YAOUNDE, CAMEROON

2013-03-25T14:23:00.002-07:00

CONFERENCE PAPER

1^ST NATIONAL FORENSIC CONFERENCE,

YAOUNDE, CAMEROON

Dr. Richard Mayungbe

E-mail: forensiccameroon@gmail.com

Tel: +23772585428