Red Flags for Creative Accounting

Course Contents

Corporate scandals and financial frauds have always permeated the world of commerce. Growing financial innovation coupled with newer and complicated accounting standards has resulted in the increased sophistication of financial statement fraud. This session seeks to explore the various types of financial shenanigans and the methods used for detection.

Course Objective(s)

1. To examine the major areas in which public listed companies use accounting policies (“cosmetic accounting”) to optimise their financial statements
2. To review the financial statements of key companies identified as using such methodologies, and understand where such usage may have been apparent to skilled analysts
3. To develop participants' skills in identifying methods of adjusting financial statements to compensate for unusual accounting policies
4. To provide participants with a set of tools and analytical approaches to enable them to overcome most of these cosmetic accounting practices
5. Obtain a greater appreciation of the tricks and devices used by public listed companies to enhance their balance sheets and earnings reports
6. Develop a sound knowledge of how to identify and overcome these tricks and devices

Financial analysts working for trading banks, stock broking firms, investment banks, asset management companies, financial planning and investment advisory firms, corporate and bank treasury managers, management consultants and financial accountants, company secretaries and compliance managers, risk managers, investor relations officers, institutional and individual investors who wish to understand more about the financial statements of companies in which they invest, and all other professionals with an interest in financial markets and reporting.

Target Audience:

All

CPD Code:

080820IP1

Speaker's Profile

Mr David Meow

David Meow is a Principal Consultant and Trainer for VIA Commerce Sdn Bhd. He is involved in training and consultancy in areas related to financial accounting, management accounting, and investment management. He has provided training and consultancy services to government–related regulatory bodies including Bank Negara Malaysia (BNM), Permodalan Nasional Berhad (PNB) and Securities Commission, Jabatan Perdana Menteri (ILKAP), financial institutions and corporations.

He is currently associated with Securities Commission, Malaysia for several developmental projects. He is also involved in several programmes initiated by Permodalan Nasional Berhad Institute.

Besides training and consultancy, he is also teaches the Chartered Financial Analysts (CFA) programs in Kuala Lumpur, Singapore, Hong Kong and Vietnam. He was a visiting lecturer to Sheffield University, a registered tutor for Hull University, and has lectured for several undergraduates and masters' programs in the region. He was also involved in facilitating several programs with an institution under the Ministry of Economy and Finance, Royal Kingdom of Cambodia.