UAE IAA collaborates with Deloitte to spread awareness about forensic investigation

UAE Internal Auditors Association and Deloitte Corporate Finance Limited joint forces for a seminar about forensic investigation with the theme “Internal Auditors and Forensic Investigators – Same Commitment, Different Skills” on October 17, 2016 at the Four Seasons Hotel, Jumeirah, Dubai, UAE. Mr. 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. He stated, “The more we can talk to each other and communicate about this topic, I think the better it is for everybody to develop.”

Ms. Ayesha Bin Lootah, Board member of IAA BOGs, expressed her support for the event and 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 Mr. 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, Mr. David 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, Mr. 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.

The event was a grand success and IAA thanked Mr. David Clements with a token of appreciation after his informative talk about forensic investigation. Mr. Khalid Farooq, Assistant Director at Deliotte, said, “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. 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.” We have a distinct capability to cater to a wide range of financial crimes, be it Fraud and corruption investigations or a straight forward incident of cash theft. We rely on a workforce of 80 dedicated individuals dealing with complexed investigative matters day in day out drawing upon their past experiences, our staff come from different backgrounds, we have chartered accountants, ex law enforcement and specialist investigators having a mix of these distinctive skills gives us a competitive edge in the region.