Trust but verify. While these words were frequently used by Ronald Reagan, I think they also apply to how your organizations deal with Fraud. In my experience, I am often faced with organizations that have experienced a fraud and question how that could have happened, as they have good fraud controls. When pressed it turns out that they implemented generic fraud controls, without doing a true risk assessment. What we will discuss today is how good fraud controls start with good risk management. Specific examples and discussions about real life situations will be the basis of the presentation.
DEREK ROSTANT is a client service Partner in KPMG and the practice leader of KPMG Forensic Inc. (Forensic), the forensic and accounting practice of KPMG in Canada. In addition, Derek is the Risk Management partner for the RC Practice at KPMG, the umbrella group that includes Forensic. Derek has a broad range of experience in financial investigations and the quantification of economic loss, and has been qualified as an expert in various courts over thirty times. Derek is a past Chairman of the Alliance for Excellence in Investigative and Forensic Accounting, the body which on behalf of the Canadian Institute of Chartered Accountants, overseas Chartered Accountants who specialize in the field of Forensic accounting. In addition Derek has presented extensively to various groups and is currently a lecturer at the University of Toronto’s Diploma in Investigative and Forensic Accounting program.