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Accounting, Auditing and Ethical Lessons from Recent Financial Scandals
Hybrid

In-person / ZOOM

7

CPD Hours Awarded

In Stock

$490.00/Pax

Date: 23 July 2026 ( Thursday )

Time: 9am-5pm

This is a hybrid session. You have the option to attend this live in-person or online via Zoom. Please indicate in “Remarks” section in your registration your mode of learning.

As part of our commitment towards minimizing carbon footprint and contributing to a healthier planet, we will only be issuing the soft copy of the training materials.

The training materials will be emailed to you 2 days before the workshop. Charging points are available in the training room to charge your digital device.

Participant (In Person) 1

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2 5% $465.50
3 - 999 10% $441.00


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This workshop provides an in-depth case study analysis of five high-profile fraud scandals — eFishery, Evergrande, Wirecard, City Harvest Church and Accord Customer Care Solutions. Participants will explore the specific audit challenges faced in each case, examine the fraudulent schemes involved, and assess audit procedures that were overlooked or insufficient. Ethical threats affecting the executives in these cases are examined as well.

At the end of this workshop, you will be able to:

  • Identify common fraud schemes and audit red flags illustrated by these cases;
  • Explain the specific audit challenges and risks associated with fictitious revenue, round tripping, misappropriation, and irregular expenses;
  • Evaluate audit procedures that effectively address fraud risks, including verification of revenue, expense testing, and assessment of third-party transactions;
  • Analyse deficiencies in audit evidence and controls revealed in fraud-affected audits
  • Identify and evaluate the ethical threats faced by the executives in the perpetuation of these fraudulent reporting

eFishery

  • Fictitious revenue recognition
  • Agent revenue recognised as principal recognition

Evergrande

  • Aggressive revenue recognition from pre-sold properties
  • Creative change in accounting policies

Wirecard

  • Fictitious revenue recognition
  • Round tripping transactions
  • Fictitious expenses
  • Misappropriation of assets
  • Cash held in trust

City Harvest Church

  • Sham bond investment
  • Related party transactions disclosure
  • Round tripping transactions

Accord Customer Care Solutions

  • Over-billing of legitimate customer
  • Fictitious customer
  • Round tripping transactions

Accounting Standards involved in the cases above include:

  • FRS 115 – Revenue from Contracts with Customers
  • FRS 37 – Provisions, Contingent Liabilities and Contingent Assets
  • FRS 116 – Leases
  • FRS 8 – Accounting Policies, Changes in Accounting Estimates and Errors 
  • FRS 7 – Statement of Cash Flows

This workshop qualifies for:

2.0 CPE hours in Financial and Sustainability Reporting Standards and Pronouncements (Category 1);

2.5 hours in Ethics and Professionalism (Category 2); and

2.5 hours in Auditing and Assurance Standards, Pronouncements and Methodology (Category 3)

 

  • Accountants
  • CFOs and Finance Managers
  • Audit Professionals
  • Directors and Audit Committee Members
  • Anyone who is interested in the lessons to be derived from recent accounting scandals

Chee Hay Kheong Daniel

Daniel holds an Honours degree in Accountancy from the National University of Singapore and is a Certified Information Systems Auditor (CISA). He has more than 15 years of experience in the accounting profession, having worked for one of the Big 4 accounting firms both in Singapore and in the United Kingdom. He has also more than 5 years of senior management experience with MNCs, managing their operations in Singapore and Asia.

Daniel is a highly sought-after seminar trainer. He was an Adjunct Professor in the School of Business, Singapore University of Social Sciences and an Adjunct Associate Professor in the Department of Accounting of the NUS Business School. He served as a committee member of both the IT Committee and the Examination Committee of ISCA, and was a Committee member of the Disciplinary Sub-Committee of Accounting and Corporate Regulatory Authority (ACRA).