UAE Internal Auditors Association and Deloitte Corporate Finance recently joined forces for a seminar about forensic investigation in Dubai, UAE.

 

David Clements, principal director of Forensics at Deloitte, was the keynote speaker and shared his expertise on the topic. He explained that the primary goal of the event was to exchange information and education about forensic investigation. 

 

Ayesha Bin Lootah, board member of IAA BOGs, said: “Today we are in the era of smart governments, Gitex technological advancement is an enabler for the future of governments and we as an association thrive to drive the profession in line with our strategic and leadership direction.”

 

Khalid Farooq, assistant director of Forensics at Deloitte Corporate Finance Limited highlighted that the purpose of the event was to raise awareness about forensic services and forensic investigations and the vital role they play in today’s era, specifically while major frauds are being committed around the world.

 

In the first part of his discussion, Clements explained the distinction between internal audit and investigation and shared some important definitions. He elaborated on how Internal Auditors and Investigators, both, have the same commitments towards the health of an organization but they are fundamentally different skill sets. Internal Auditors are proactive and collaborative with the aim of business improvement.

 

Whereas, investigators are reactive and confrontational as they investigate the series of events that took place with an agenda to reach a conclusion and suggest an after course based on their findings.

 

In the second part of his discussion, Clements shared case studies highlighting some of the significant financial frauds around the globe including a particularly large fraud that occurred in the Middle East and how forensic investigation played a quintessential part in the discovery of fraudulent activities.

 

“We will continue to extend a hand to companies in preventing and investigating fraud in the future. We believe that we are trusted advisers and we believe that when we give an opinion or when we give a suggestion, it’s well-thought process and it comes from our past experiences,” Farooq said.

 

“Over the years we have seen a variety of different cases all around the world being a global firm and that I think is our advantage.” – TradeArabia News Service