SEMINAR: Financial Statement frauds: Practice and valuable lessons

SEMINAR: Financial Statement frauds: Practice and valuable lessons – 2023

On the afternoon of July 28, 2023, in Room B1-205, Campus B Nguyen Tri Phuong, the School of Accounting and the Association of Certified Fraud Examiners Vietnam Chapter (ACFE Vietnam) organized a seminar “Financial Statement frauds: Practice and valuable lessons”. The seminar aims to create a connection between students and members of ACFE Vietnam and provide an opportunity for students to apply for potential internships with professional forensic service firms.

Overview of Seminar

ACFE is an American fraud research organization established in 1988 as the Association of Certified Fraud Examiners. This is the world's largest anti-fraud organization and a leading provider of anti-fraud training and education. With more than 90,000 members in over 180 countries, ACFE helps reduce business fraud globally and gives communities confidence in the integrity and objectivity of professional organizations.

The seminar was conducted in both Vietnamese and English with the representatives of the UEH’s Board of Directors, the lecturers of the School of Accounting, the members of ACFE Vietnam, and over 100 UEH students.

At the seminar, Assoc. Prof. Dr. Pham Quang Huy, Vice Head of Undergraduate Training Department UEH, former Head of the Public Accounting Department, Faculty of Accounting, UEH College of Business presented the topic “Overall and Fundamentals of Financial Statement Fraud” to introduce financial statement fraud concepts, signs and situations. The presentation also outlined ways to prevent financial statement fraud to accounting and audit students; including establishing strict internal control, putting honesty first and integrity of the staff, performing periodic or special audits of financial statements, using an integrated accounting system, setting up a hotline system...

Assoc. Prof. Dr. Pham Quang Huy-Vice Head of Undergraduate Training Department UEH

In the next session, Ms Mai Dang, Senior Manager at EY Vietnam, a member of ACFE, delivered the second presentation on the topic “SEC case studies on Financial Statement Fraud” presents SEC (U.S. Securities and Exchange Commission) real cases of Financial statement fraud; such as improperly revenue recognition, overstatement of assets, conceal liability/expenses, improper disclosure….The effects and damages caused by fraud to individuals and organizations were also discussed.

Ms Mai Dang- Senior Manager at EY Vietnam

The seminar was successful in providing accounting and auditing students with an opportunity to learn from professionals and experts in the field of anti-fraud activities; improve their own professional knowledge, keep up with market trends and closely follow the current business practices.