Accountants need do more training to combat fraud says expert

By Ryan S. Iroga

An expert in fighting fraud has told Solomon Islands accountants to do more training to combat fraud, especially in the government.

British Forensic Accountant Simon Padgett made the call after completing a three-day workshop here attended by internal auditors and senior managers of business organizations in the government and the private sector on how to investigate fraud interruption and how to establish processes in place to better prevent fraud in their organizations.

The objectives of the Masterclass workshop were to educate corporations and employees on Forensic Accounting and Current Fraud & Corruption Trends to provide an arsenal of the latest techniques to fight and manage fraud. This training provided the latest technology and videos to not only sensitive employees to what is happening but also “How the fraudsters carries out his frauds”.

“We truly believe that fraud investigators and auditors can only begin to tackle fraud if they understand how many different types of fraud are carried out,” Pagett wrote.

Attendees were also taught the fundamental procedures involved in attaining money that is fraudulently stolen which often involves the use of technology, book keeping as well as fraud hotlines.

Padgett, a British Forensic Accountant, based in Canada has spent a considerable amount of years investigating fraud cases as a fraud specialist for the CFE and has travelled worldwide delivering this fraud course.

Padgett said that in spite of the encouraging turn out from members of these local organizations there needs to be more involvement by Government officials in these fraud courses as this is where cases of corruption and fraud are prevalent.

‘Every Government has fraud and it’s horrendous so we’re trying to eradicate it’ he added.

Pagett said there is a need for government officials to enter fraud courses of this nature as it would help them identify colleagues who are committing fraud and taking bribes and which in turn assists in preventing such undesired activities like bribery and corruption.

Participants said that they have learnt vital knowledge and skills that will assist them in identifying and better resolving cases of fraud in their workplace.

The world is riddled with fraud and there is lack of forensic accountants within our region who can help in combating this issue and as such Mr. Padgett encourages those interested to pursue a career in this field.