Managing Fraud Risks

Transcription

1 Managing Fraud Risks Fraud risks are now considered to be one of the important business issues in managing business organisations. As a chartered secretary, it is also crucial to raise the awareness of fraud so as to ensure the proper business management, governance and operation. A fraud series consisting of three seminars will be held to focus on various fraud risks and concerns faced by a business and some recommended strategies and measures to deal with the issues. Participants are encouraged to attend all three seminars to achieve the greatest benefits. Speakers: Mr Allan Lee, Director, Horwath Hong Kong Group Limited Mr Ricky Cheng, Director, Horwath Risk Advisory Services Limited (Session 3 only) Speakers: Language: Cantonese, supplemented with English Fees for each session: HK$480 for HKICS members and HK$530 for non-members Total fees for three sessions: HK$1,150 for HKICS members and HK$1,280 for non-members Accreditations: 2.5 CPD points for each session Session I: Common Fraud Schemes Date: Time: Venue: 7.5 CPD points for attending full series 13 October 2007 (Saturday) a.m p.m. (registration from 9.45 a.m.) The HKICS, 3/F, Hong Kong Diamond Exchange Building, 8 Duddell Street, Central, Hong Kong Fraud is an intentional act by one or more individuals among management, employees or third parties which usually results in a negative effect on a business. It is essential for us to understand various fraud schemes. In this session, the presenter will discuss: Revenue fraud schemes Procurement fraud schemes Inventory fraud schemes Cash receipt fraud schemes Payroll fraud schemes Session II: Fraud Risk Factors and Indicators Date: Time: Venue: 3 November 2007 (Saturday) a.m p.m. (registration from 9.45 a.m.) The HKICS, 3/F, Hong Kong Diamond Exchange Building, 8 Duddell Street, Central, Hong Kong Fraud is difficult to detect even though we understand the common fraud schemes. Therefore, we need to identify the fraud risk factors and indicators which raise our awareness on them. In this session, the presenter will discuss: Fraud risk factors Fraud warning signs and indicators Fraud alert and awareness

2 Session III: Anti-fraud Measures and Controls Date: Time: Venue: 8 December 2007 (Saturday) a.m p.m. (registration from 9.45 a.m.) The HKICS, 3/F, Hong Kong Diamond Exchange Building, 8 Duddell Street, Central, Hong Kong Management is facing an increase in responsibility of preventing and detecting fraud as a matter of risk management and corporate governance. As chartered secretaries, our roles in advising and assisting the management on these respects become more valuable. In this session, the presenters will discuss: Risk management and corporate governance COSO framework Anti-fraud measures and controls Fraud response plan Enrolment Fax No.: Date Seminars on Managing Fraud Risks 13 Oct (Sat) Session I: Common Fraud Schemes 3 Nov (Sat) Session II: Fraud Risk Factors and Indicators 8 Dec (Sat) Session III: Anti-fraud Measures and Controls Please tick as appropriate Full Name : Membership Number: Company Name : Job Title : Mailing Address : Tel no. : Fax no. : Address: Payment : HKICS Members/Students HK$ Non-members HK$ $100 Cash Coupon Attached LESS HK$ Deduct from ECPD Programme Package HKICS ECPD Seminar Ticket Net Total : HK$ CPD points required from The HKICS CPD points required from The Law Society of Hong Kong For Office Use Only Terms & Conditions: 1. Applications are accepted on a first-come first-served basis. 2. Please call if you do not receive a fax/ confirmation three days after your enrolment. 3. To guarantee a place, payment is required within four days after the confirmation of enrolment. 4. For cancellation, two days notification is a must otherwise full cost will be charged. 5. Refunds are not available, but substitute attendees are welcome. Please notify us of the new name one day in advance. 6. The Institute reserves the right to change the listed presenter(s), date or venue if necessary. Any change of date and venue will be notified by fax/ If you need to claim CPD points from The HKICS, please ensure that the enrolment form records your name and membership number exactly as stated on your membership card. Please remember to bring your HKICS membership card for registration at the seminar. 8. If you need to claim CPD points from The Law Society of Hong Kong, please ensure that the enrolment form records your name and membership number exactly as stated on your practicing certificate or registered trainee solicitor contract. Please remember to bring your Law Society membership card for registration at the seminar. 9. This form, together with a cheque payable to HKICS, should be sent to The HKICS, 3/F, Hong Kong Diamond Exchange Building, 8 Duddell Street, Central, Hong Kong. revised Feb

3 Date: 5 November 2007 (Monday) Time: 6.45 p.m p.m. (registration from 6.30 p.m.) Topic: How to Prepare an Outstanding Annual Report? Awarded 1 CPD Point Presenter: Mrs April Chan, Company Secretary, CLP Holdings Limited Venue: Club Lusitano, 27 Floor, 16 Ice House Street, Central, Hong Kong (Changed) Fee: HK$210 for HKICS members and HK$250 for non-members In this seminar, Mrs April Chan will share with you her experience in preparing an outstanding annual report. She will draw reference to world examples and CLP's practice in illustrating the process. The outline of the seminar covers: Key ingredients in preparing an outstanding annual report What should be avoided in an annual report? Process to prepare an outstanding annual report Awarded 1 CPD Point Date: 9 November 2007 (Friday) Time: 2.30 p.m p.m. (registration from 2.15 p.m.) Topic: Tax Investigation and Prosecution Presenters: Mr Godwin Ng, Barrister-at-Law (Part I) Mr Ho Chi Ming, Barrister-at-Law (Part II) Venue: Joint Professional Centre, Unit 1, G/F, The Centre, 99 Queen's Road Central, Hong Kong Fee: HK$480 for HKICS members and HK$530 for non-members Awarded 2.5 CPD Points Awarded 2.5 CPD Points In this seminar, the presenters will discuss: Part I : Tax Investigation and Penalty 1. Practical approach to investigation 2. Start of investigation 3. Initial interview and matters prior to the interview 4. Examination of accounting books and records 5. Taxpayer s obligations 6. Settlement methods 7. Settlement 8. Monetary penalty Part II : Prosecution of Tax Evasion 1. S.80(2) without reasonable excuse committing tax evasion 2. S.82 wilfully with intent to evade tax 3. Process of tax prosecution 4. Guilty plea and non-guilty plea 5. Sentencing guideline 6. Practical matters in acting for defendants

4 Date: 13 November 2007 (Tuesday) Time: 6.45 p.m p.m. (registration from 6.30 p.m.) Topic: The Mutual Recognition and Enforcement of Judgments Arrangement between Hong Kong and the Mainland Level: Update Language: English Presenters: Mr Simon McCONNELL, Partner, Allens Arthur Robinson Mr Frank POON, Deputy Solicitor General (Acting), Legal Policy Division, Department of Justice Venue: Joint Professional Centre, Unit 1, G/F, The Centre, 99 Queen's Road Central, Hong Kong Fee: HK$295 for HKICS members and HK$340 for non-members In this seminar, the presenters will discuss: The Arrangement signed in July 2006 Status of implementation - Hong Kong and the Mainland An outline of the Arrangement and the proposed legislation in Hong Kong Prerequisites to the proposed legislation applying Discussion of issues which need to be addressed or may become contentious CPD Points awarded by The Law Society TO BE CONFIRMED Enforcement of judgments in the Mainland

5 Date: 22 November 2007 (Thursday) Time: 6.45 p.m p.m. (registration from 6.30 p.m.) Topic: Close down a business in Hong Kong Presenter: Ms Frances Chan, Director and Head of Corporate Restructuring, Corporate Secretarial, KCS Limited Venue: SCOPE Learning Centre, 8/F United Centre, 95 Queensway, Admiralty, Hong Kong Fee: HK$295 for HKICS members and HK$340 for non-members In this seminar, the presenter will discuss: 1. Major forms of presence in Hong Kong 2. Reasons for closure of the presence 3. Ways of voluntary closure - brief outline of the procedures and time required: a) Deregistration of joint venture, partnership and limited partnership business b) Deregistration of a branch office and a representative office c) Closure by applying for deregistration under Section 291AA of the Companies Ordinance or by way of Members' Voluntary Liquidation Date: 6 December 2007 (Thursday) Time: 6.30 p.m p.m. (registration from 6.15 p.m.) Topic: Doing business in Macao Level: Introductory Presenter: Ms Louisa Ho Mei Va, Vice President, Union of Associations of Professional Accountants of Macao Venue: SCOPE Learning Centre, 8/F United Centre, 95 Queensway, Admiralty, Hong Kong Fee: HK$380 for HKICS members and HK$430 for non-members In this seminar, the presenter will discuss: 1. Overview of Current Business Environment in Macao Economic developments Population and Employment Status Investment categories 2. Regulatory Requirements Updates Establishing a new business Taxation, accounting and management compliance issues Re-construction of a business Awarded 2 CPD Points CPD Points awarded by The Law Society TO BE CONFIRMED 3. Responsibilities of Company Officers Under Commercial Codes Board directors Supervisory board members Company secretaries

6 Date: 10 December 2007 (Monday) Time: 6.30 p.m p.m. (registration from 6.15 p.m.) Topic: Due Diligence Exercise for Listing in Hong Kong Presenter: Mr C. K. Poon, Executive Director, Huabao International Holdings Limited Venue: Joint Professional Centre, Unit 1, G/F, The Centre, 99 Queen's Road Central, Hong Kong Fee: HK$380 for HKICS members and HK$430 for non-members Awarded 2 CPD Points Key areas of the seminar: Major considerations affecting an IPO IPO execution and marketing process Parties involved Due diligence process US Practice 10b-5 opinion Awarded 2 CPD Points Date: 12 December 2007 (Wednesday) Time: 6.45 p.m p.m. (registration from 6.30 p.m.) Topic: Forensic Accountancy & Accounting Irregularities in Financial Statements Presenter: Mr Benny K B Kwok, Chartered Surveyor, Chartered Accountant, Venue: Joint Professional Centre, Unit 1, G/F, The Centre, 99 Queen's Road Central, Hong Kong Fee: HK$295 for HKICS members and HK$340 for non-members Introduction: At the centre of frauds hitting the integrity of financial statements, accounting irregularities usually involve the manipulation of accounting data and disclosure to distort corporations financial pictures. This seminar will provide an overview of forensic accountancy and accounting irregularities in financial statements. At the end of the seminar, participants will be able to: Understand the nature and function of forensic accountancy; Better utilize the expertise of forensic accountancy in legal proceedings; and Understand the basics of accounting irregularities and the appropriate deterrents. Target Participants: Company secretaries, litigators, investigators, analysts, insurers, accountants, surveyors, business executives and other professionals who need to understand and combat accounting irregularities and to apply the expertise of forensic accountancy.

7 Date: 14 December 2007 (Friday) Time: 6.15 p.m p.m. (registration from 6.00 p.m.) Topic: Mergers and Acquisitions in Hong Kong Presenter: Ms Julianne Doe, Partner, Corporate Strategy & Finance, Hammonds Venue: SCOPE Learning Centre, 8/F United Centre, 95 Queensway, Admiralty, Hong Kong Fee: HK$295 for HKICS members and HK$340 for non-members In this seminar, the presenter will discuss: Private company vs Public company acquisitions Takeovers Code implications Listing Rules implications Structure of a M&A transaction Case study Date: 18 December 2007 (Tuesday) Time: 6.45 p.m p.m. (registration from 6.30 p.m.) Topic: China's new Anti-Monopoly Law - The Devil in the Detail Level: Update Language: English Presenters: Ms Hannah Ha, Partner, Johnson Stokes & Master Mr Gerry O'Brien, Registered Foreign Lawyer (Victoria, Australia), Johnson Stokes & Master Venue: SCOPE Learning Centre, 8/F United Centre, 95 Queensway, Admiralty, Hong Kong Fee: HK$295 for HKICS members and HK$340 for non-members Hannah Ha and Gerry O'Brien will be discussing China's new Anti-Monopoly Law, focusing on: key aspects of the law for business operators and foreign investors; how to prepare for commencement of the law on 1 August 2008; and how the law may change the 'competition landscape' in China, and influence competition law developments in Hong Kong.

8 Enrolment Fax No.: Please tick the seminar(s) you wish to enrol Date Topic 5 Nov (Mon) How to Prepare an Outstanding Annual Report? 9 Nov (Fri) Tax Investigation and Prosecution 13 Nov (Tue) The Mutual Recognition and Enforcement of Judgments Arrangement between Hong Kong and the Mainland 22 Nov (Thur) Close down a business in Hong Kong 6 Dec (Thur) Doing business in Macao 10 Dec (Mon) Due Diligence Exercise for Listing in Hong Kong 12 Dec (Wed) Forensic Accountancy and Accounting Irregularities in Financial Statements 14 Dec (Fri) Mergers and Acquisitions in Hong Kong 18 Dec (Tue) China's new Anti-Monopoly Law - The Devil in the Detail Please call if you do not receive a fax/ confirmation three days after your enrolment. Full Name : Membership Number: Company Name : Job Title : Mailing Address : Tel no.: Fax no. : Address: Payment : HKICS Members/Students HK$ Non-members HK$ $100 Cash Coupon Attached LESS HK$ Deduct from ECPD Programme Package HKICS ECPD Seminar Ticket Net Total : HK$ CPD points required from The HKICS CPD points required from The Law Society of Hong Kong For Office Use Only Terms & Conditions: 1. Applications are accepted on a first-come first-served basis. 2. Please call if you do not receive a fax/ confirmation three days after your enrolment. 3. To guarantee a place, payment is required within four days after the confirmation of enrolment. 4. For cancellation, two days notification is a must otherwise full cost will be charged. 5. Refunds are not available, but substitute attendees are welcome. Please notify us of the new name one day in advance. 6. The Institute reserves the right to change the listed presenter(s), date or venue if necessary. Any change of date and venue will be notified by fax/ If you need to claim CPD points from The HKICS, please ensure that the enrolment form records your name and membership number exactly as stated on your membership card. Please remember to bring your HKICS membership card for registration at the seminar. 8. If you need to claim CPD points from The Law Society of Hong Kong, please ensure that the enrolment form records your name and membership number exactly as stated on your practicing certificate or registered trainee solicitor contract. Please remember to bring your Law Society membership card for registration at the seminar. 9. This form, together with a cheque payable to HKICS, should be sent to The HKICS, 3/F, Hong Kong Diamond Exchange Building, 8 Duddell Street, Central, Hong Kong. revised Feb