In 2006, the Corporate Fraud Division (CFD) decided to reach out to undergraduates in local universities to raise the awareness of the aspiring accountants, financial officers and potential chief financial officers on the pitfalls of being involved in corporate frauds. The aim is to reinforce the importance of maintaining a high standard of ethics and integrity at the workplace and to drive home the point that the long arm of the law would catch up with them should they be involved in any criminal wrong-doings.
On 14 September 2007, Ms Chia Siew Joo and Mr Andrew Pek, who are both Chief Investigation Officers in CFD, delivered a presentation to about 150 undergraduates in accountancy, business and law of the Singapore Management University (“SMU”). The presentation entitled ‘Your Professional Journey Ahead’” sought to impress upon them that key financial personnel in corporations must always place their professionalism above short term gains – whether it be a case of increased stock options, increased salaries or promotions. Two cases, namely Enron Corporation and China Aviation Oil (S) Corporation Ltd were featured and discussed. Key learning points on the importance of whistle blowers, as well as the prosecution of accounting and financial professionals featured in the cases were highlighted.
Associate Professor Pang Yang Hoong, SMU’s Vice Provost (Undergraduate) & Dean, School of Accountancy, found the presentation by the two CAD officers interesting and timely. She said that this was the first occasion SMU undergraduates were given the opportunity to hear from law enforcement officers on the consequences of financial personnel abetting the commission of corporate frauds. From feedback received, more than 85% agreed that the CFD presentation met its objectives, and more than 90% agreed that the presentation was well-structured. Next year, CFD plans to reach out to more tertiary education institutions.
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| CAO Chia Siew Joo "correcting" the common fallacies in high profile corporate scandals |
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CAO Andrew Pek illustrating the fine distinction between poor corporate governance and economic crime |
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| CAO Andrew Pek and CAO Chia Siew Joo addressing the audience on their queries |
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| SMU students listening actively to the presentation titled 'Your Professional Journey Ahead" |