Northern Society of Chartered Accountants

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Fraud prevention and detection for accountants – a practical insight

This half day seminar is co-presented by Peter Herbert and Tim Holt, a police officer with 30 years’ experience of criminal and financial investigation work, latterly with the National Crime Agency (NCA). It will combine Tim’s vast experience of investigation work and Peter’s knowledge of exactly what accountants need to do to comply with the Anti-Money Laundering Regulations. There will be a big focus on real-life case studies.

The seminar will also reflect on the challenges faced by firms when auditing pension schemes and how they can successfully comply with the Clarity ISAs, whilst still maximising audit efficiency. In addition, we will update delegates on all recent regulatory changes and Pensions Regulator pronouncements which their clients will need to be aware of.

Content will include:

• the meaning of fraud and its implications for business,
• different types of fraud that affect accountants and their clients and how to stop them happening,
• an insight into recent NCA cases and what accountants can learn from them,
• practical guidance on essential anti-fraud controls needed in owner-managed businesses and charities,
• cybercrime – what it is and how to address the warning signs,
• the link to audit – what auditors should actually be doing to comply with ISA 240,
• accountants’ obligations under the Money Laundering Regulations and where they go wrong and
• the 4th Money Laundering Directive – what it is and how it will affect business practices.

After attending this seminar you will:

• understand why fraud arises in private companies and what advice to give clients so that they can prevent and detect it;
• know exactly what accountants need to do to ensure that they comply with their legal obligations under the Money Laundering Regulations and Proceeds of Crime Act; and
• appreciate how auditors should assess fraud risk in practice – and respond to it in an appropriate way.