Forensic Audit

The application of accounting methods to the tracking and collection of forensic evidence, usually for investigation and prosecution of criminal acts such as embezzlement or fraud. Also called forensic accounting.

An examination and evaluation of a firm's or individual's financial information for use as evidence in court. A forensic audit can be conducted in order to prosecute a party for fraud, embezzlement or other financial claims. In addition, an audit may be conducted to determine negligence or even to determine how much spousal or child support an individual will have to pay.

Forensic auditing is a specialization within the field of accounting, and forensic auditors often provide expert testimony during trial proceedings. Most large accounting firms have a forensic auditing department.

Past financial scandals such as WorldCom, Enron, Tyco and locally Macmed have stimulated a flurry of change within the regulatory, financial reporting and audit environments.

The International Auditing and Assurance Standards Board (IAASB), formerly the International Accounting Policy Committee (IAPC), sets International Standards on Auditing (ISA). In March 2001, the IAASB issued the International Standard on Auditing 240 (ISA 240), which was revised in 2004. ISA 240 (Revised) deals with an auditor’s responsibility to consider fraud in the audit of financial statements for all financial years commencing on or after 15 December 2004.

ISA 240 (Revised) mandates the auditor to perform appropriate audit procedures to consider fraud in an audit of financial statements for both private and public organisations. This will in the end improve the overall quality of the audit. A significant volume of additional audit procedures will be required from auditors to comply with these new requirements.

• Forensic accountants skilled in the reconstruction and analysis of accounting records and business transactions.
• Computer forensic practitioners skilled in the recovery of information from electronic devices or backup media, including active, deleted, hidden, lost or encrypted files. These practitioners can even recover documents that were never saved, but only typed on and printed. Common critical evidence is often found in recovered data files.
• Data analysts who utilise data interrogation tools and services to assist in gathering evidence or in identifying potential criminal activity hidden in huge volumes of data and transactions.
• Industry specialists who provide insights into the unique practices and norms of an industry.

Forensic Audit in ACCA

Strategic Management

Strategic Management

Boston Consulting Group

The Boston Consulting Group (BCG) is a global management consulting firm with offices in 42 countries. It is recognized as one of the most prestigious management consulting firms in the world. It is one of only three companies to appear in the top 15 of Fortune's "Best Companies to Work For" report for seven consecutive years. In the 2011 and 2012 lists, BCG is listed as the second best company to work for, and is the only top-tier consulting firm to appear in the top 100. BCG is also the only firm to have been listed every year in Consulting Magazine's "Best Firms to Work For" list, since the magazine's inception in 2001

wikipedia

Type	Partnership
Industry	Management consulting
Founded	1963
Headquarters	Boston, Massachusetts, United States 75 offices in 42 countries
Key people	Hans-Paul Bürkner, President & CEO
Products	Management consulting services
Revenue	US$ 3.55 billion (2011) BCG.com
Employees	5,600 (consultants) BCG.com
Website	bcg.com

Short Run Oil Prices

Short Run Oil Prices

28-03-2012

Capital Budgeting

Capital Budgeting

Present and Future Value Tables (Excel)

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Capital Budgeting Working Sheet (Excel)

Use it 

Financial Modeling & Corporate Valuations

Financial Modeling & Corporate Valuations

Presented by

Affan Sajjad –ACA

(Pp. 64)

Read 

Book: Practice of Banking in Pakistan

Book: 

Practice of Banking in Pakistan

by

M. Ali

(B.Com, MBA, DA-IBP)

 

Printed: July 2009

Rs. 400/-

 

31/1, Khayaban-e-Shaheed, Phase-V, DHA, Karachi.

 

Pp. 182

Online Icome

Online Income

odesk

job application quota (The maximum job application quota is 25.)

 

 Qualification Tests

Summary

• Typically 40 multiple-choice questions randomly generated per test
• Large bank of questions per test, questions regularly refreshed
• Contractors can take any test for free, can retake a test typically after 30 days
• Typically 40 minutes to complete test, cannot revisit previously answered questions

Excel and VBA

Excel and VBA

There is really only one way to master Excel VBA, and that is by doing it. 

Excel VBA, which stands for Excel Visual Basic for Applications, is the name of the programming language of Microsoft Excel. With Excel VBA you can automate a task in Excel by writing a so called Macro. This can save you a lot of time! More importantly there are certain things you cannot do with Excel alone. Excel VBA allows you to do these things in Excel.

Contextures , Video Clip

excel-vba   Excel Macros (VBA) For beginners, intermediate and advanced users

• Excel VBA Beginner Tutorial = Fundamentals

MS_Excel_for_Chartered_Accountants

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How to create the sample function Called SpellNumber

1. Start Microsoft Excel.
2. Press ALT+F11 to start the Visual Basic Editor.
3. On the Insert menu, click Module.
4. Type the following code into the module sheet.
   
   

   --------------------------------------------------------------------------- 

   Option Explicit
   'Main Function
   Function SpellNumber(ByVal MyNumber)
       Dim Dollars, Cents, Temp
       Dim DecimalPlace, Count
       ReDim Place(9) As String
       Place(2) = " Thousand "
       Place(3) = " Million "
       Place(4) = " Billion "
       Place(5) = " Trillion "
       ' String representation of amount.
       MyNumber = Trim(Str(MyNumber))
       ' Position of decimal place 0 if none.
       DecimalPlace = InStr(MyNumber, ".")
       ' Convert cents and set MyNumber to dollar amount.
       If DecimalPlace > 0 Then
           Cents = GetTens(Left(Mid(MyNumber, DecimalPlace + 1) & _
                     "00", 2))
           MyNumber = Trim(Left(MyNumber, DecimalPlace - 1))
       End If
       Count = 1
       Do While MyNumber <> ""
           Temp = GetHundreds(Right(MyNumber, 3))
           If Temp <> "" Then Dollars = Temp & Place(Count) & Dollars
           If Len(MyNumber) > 3 Then
               MyNumber = Left(MyNumber, Len(MyNumber) - 3)
           Else
               MyNumber = ""
           End If
           Count = Count + 1
       Loop
       Select Case Dollars
           Case ""
               Dollars = "No Dollars"
           Case "One"
               Dollars = "One Dollar"
            Case Else
               Dollars = Dollars & " Dollars"
       End Select
       Select Case Cents
           Case ""
               Cents = " and No Cents"
           Case "One"
               Cents = " and One Cent"
                 Case Else
               Cents = " and " & Cents & " Cents"
       End Select
       SpellNumber = Dollars & Cents
   End Function
         
   ' Converts a number from 100-999 into text 
   Function GetHundreds(ByVal MyNumber)
       Dim Result As String
       If Val(MyNumber) = 0 Then Exit Function
       MyNumber = Right("000" & MyNumber, 3)
       ' Convert the hundreds place.
       If Mid(MyNumber, 1, 1) <> "0" Then
           Result = GetDigit(Mid(MyNumber, 1, 1)) & " Hundred "
       End If
       ' Convert the tens and ones place.
       If Mid(MyNumber, 2, 1) <> "0" Then
           Result = Result & GetTens(Mid(MyNumber, 2))
       Else
           Result = Result & GetDigit(Mid(MyNumber, 3))
       End If
       GetHundreds = Result
   End Function
         
   ' Converts a number from 10 to 99 into text. 
   Function GetTens(TensText)
       Dim Result As String
       Result = ""           ' Null out the temporary function value.
       If Val(Left(TensText, 1)) = 1 Then   ' If value between 10-19...
           Select Case Val(TensText)
               Case 10: Result = "Ten"
               Case 11: Result = "Eleven"
               Case 12: Result = "Twelve"
               Case 13: Result = "Thirteen"
               Case 14: Result = "Fourteen"
               Case 15: Result = "Fifteen"
               Case 16: Result = "Sixteen"
               Case 17: Result = "Seventeen"
               Case 18: Result = "Eighteen"
               Case 19: Result = "Nineteen"
               Case Else
           End Select
       Else                                 ' If value between 20-99...
           Select Case Val(Left(TensText, 1))
               Case 2: Result = "Twenty "
               Case 3: Result = "Thirty "
               Case 4: Result = "Forty "
               Case 5: Result = "Fifty "
               Case 6: Result = "Sixty "
               Case 7: Result = "Seventy "
               Case 8: Result = "Eighty "
               Case 9: Result = "Ninety "
               Case Else
           End Select
           Result = Result & GetDigit _
               (Right(TensText, 1))  ' Retrieve ones place.
       End If
       GetTens = Result
   End Function
        
   ' Converts a number from 1 to 9 into text. 
   Function GetDigit(Digit)
       Select Case Val(Digit)
           Case 1: GetDigit = "One"
           Case 2: GetDigit = "Two"
           Case 3: GetDigit = "Three"
           Case 4: GetDigit = "Four"
           Case 5: GetDigit = "Five"
           Case 6: GetDigit = "Six"
           Case 7: GetDigit = "Seven"
           Case 8: GetDigit = "Eight"
           Case 9: GetDigit = "Nine"
           Case Else: GetDigit = ""
       End Select
   End Function
   -----------------------------------------------------------------------     

Good Practices of Tackling External Fraud

Good Practices of Tackling External Fraud

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Audit Quality - 

Agency Theory and the Role of Audit

Read

BASEL-II

BASEL-II

Risk Management Regime
Basel Capital Accord

BASEL - I   Market Risk Amendment - 1996-99
                      Operational Risk measurement?

BASEL -II  Charge for Operational Risk + Creteria of Credit Risk Charge - 1999

BASEL-III   Liquidity


Pillars

1. Calculation
2. Supervisory (Regulator)
3. Market Discipline

Capital cushion to absorb the loss
Beauvoir Finance

Weight to Assets - Crdits
IRB Fondation

Well-Capitalized Banks
Benchmark capital?
Credit risk?
Credit risk management derivative

Read (Report from ICAP) 

Arif Naqvi

Arif Naqvi

Arif Naqvi is the CEO of Dubai-based investment bank Abraaj Capital, the leading private equity firm in the Middle East and Northern Africa. He has spent 27 years in the banking, finance and investments industry.

Arif Masood Naqvi earned his BSc Economics in 1982 from the London School of Economics and is originally from Karachi, Pakistan.
In 1982, Naqvi began his career with Arthur Andersen in London. Later, he went back to Pakistan to join the American Express Bank and helped create Pakistan's first investment banks. He launched a private equity firm called Cupola.
Over the years, Naqvi has also overseen the acquisition and exit of Aramex International, Inchcape Middle East the first and largest leveraged buyout transaction in the region, and the privatisation by the Government of the Hashemite Kingdom of Jordan of Jordan Aircraft Maintenance Company (JorAMCo). This is in addition to the acquisition of a significant stake in the leading supermarket chain in the Middle East – Spinneys, and the total acquisition of Septech, a controversial waste water treatment company.
Naqvi was vice-president of business development for the Olayan Group, Saudi Arabia's largest private trading company.
Naqvi currently serves on the Board of Directors of Endeavor, an international non-profit development organization that finds and supports high-impact entrepreneurs in emerging markets.

Notable achievements

In 2006, Mr. Arif Naqvi was awarded Sitara-i-Imtiaz, Pakistan's Third Highest Civilian Award.
Naqvi is the only non-Arab member serving in the Arab Business Group established by the World Economic Forum.
He served as Young Presidents Organization, Emirates Chapter Chairman in 2002-2003
Designated "New Asian Leader" by the World Economic Forum in 2003-2004.

Arif Naqvi is the founder and Group Chief Executive of Abraaj Capital, based in Dubai. Abraaj Capital is the largest private equity firm in the MENASA region. He is a member of the Young Presidents' Organization, where he was the Emirates Chapter Chairman from 2002-03. He is a member of numerous think tanks and policy groups, including the WEF Arab Business Council.
Mr. Naqvi received his education at the London School of Economics. He was born in 1960 and is a citizen of Pakistan.

Arif Naqvi

Abraaj Capital, Founder & Group Chief Executive Officer

Arif Naqvi is Founder and Group Chief Executive Officer of Abraaj Capital. Abraaj is the largest private equity group in the Middle East, North Africa and South Asia (MENASA) with paid-up capital of US$1.5 billion. Since its inception in 2002, it has raised about US$7 billion and distributed nearly US$3 billion to its investors. Abraaj has been associated with some of the region’s most notable transactions and has won numerous awards including "Middle East Private Equity Firm of the Year" from London-based Private Equity International (PEI) five years in a row since 2005.

Mr. Naqvi is a member of the Young Presidents Organization, where he was the Emirates Chapter Chairman from 2002 to 2003. He was designated a New Asian Leader by the World Economic Forum (WEF) in 2003/ 2004, and is a member of numerous think-tanks and policy groups such as the WEF Arab Business Council. He is a board member of the Pakistan Human Development Fund and the recipient of the King Abdullah II Award for Youth Innovation & Achievement in Jordan. He is also a member of the Advisory Council of the Emerging Markets Private Equity Association, the IMD Foundation Board, and the Advisory Board of the Columbia University Middle East Research Center.

In 2007 and 2008, PEI identified Mr. Naqvi as one of the 50 most influential people in the global private equity industry. In 2006, he was awarded the highest civilian honor in Pakistan, the Sitari-e-Imtiaz, by the republic’s president. Mr. Naqvi is a graduate of the London School of Economics and previously worked with Arthur Andersen & Co, American Express Bank, Saudi Arabia’s Olayan Group, and The Cupola Group, which he founded in 1994. Mr. Naqvi is married with two children.

Abraaj Capital