Financial Transactions & Fraud Schemes LPFA, 10 Juni 2014
Overview Fraud Examination
Resolving allegations of fraud-from tips, complaints or accounting clues. Obtain documentary evidence, interviewing witnesses and potential suspects, writing investigative reports, testifying to findings, assisting in detection and prevention of fraud Can also be conducted by professionals in other fields: law enforcement official,etc
Fraud Examination Methodology
Predication : sufficient reason to conduct a fraud examination The Case Theory Approach: Analyze available data Create a hypothesis Test the hypothesis Refine and amend the hypothesis
What is forensic accounting ?
Forensic Accounting ?
Forensic : belonging to, used in or suitable to courts of judicature or to public discussions and debate (Webster’s Dictionary ) Penerapan dari keahlian finansial dan kemampuan investigatif terhadap permasalahan-permasalahan keuangan yang belum terpecahkan dan dilakukan dalam ketentuan bukti yang dapat diterima menurut hukum (William T. Thornhill)
Diagram Akuntansi Forensik (Theodorus Tuanakotta, 2007)
Akuntansi Forensik Jenis Penugasan
Fraud Audit Proaktif
Akuntansi - Ganti Rugi Investigatif
Temuan Audit Tuduhan Keluhan
Temuan Audit
Sumber Informasi
Fraud Risk Assessment
Output
Indikasi potensi fraud
Indikasi awal adanya fraud
Bukti ada/tidaknya pelanggaran
- Kerugian Keuangan Negara
Hukum Pidana - Perdata - Administratif - Arbitrase dan Alternatif Peneyelesaian Sengketa -
Forensic Accounting Construction Environmental Claims Claims
Estate/ Family Valuation
Financial Fraud Contract Investigation Disputes
Government Contract Claims
Intellectual Property Infringement Damages
Fraud Examination
Fraud Prevention Fraud Deterrence
Fraud Detection
Fraud Investigation
Fraud Loss & Costs Recovery
Anti-fraud Controls Remediation Anti-fraud Education & Training
Fraud Examination
Fraud Prevention Fraud Deterrence
Forensic Accounting
Fraud Detection
Construction Environmental Claims Claims
Estate/ Fraud Family Investigation Valuation Fraud Loss & Costs Recovery
Anti-fraud Controls Remediation Anti-fraud Education & Training
Financial Contract Disputes
Government Contract Claims
Intellectual Property Infringement Damages
Who needs forensic accounting ?
Corporate investigations Litigation support Criminal matters Insurance claims Government etc
What should a forensic accountant know and be able to do ?
Ability to identify frauds with minimal information Identification of financial issues Knowledge of investigative techniques Knowledge of evidence Interpretation of financial information Presentation of findings Investigative skills
FRAUD “ SEGALA SESUATU YANG DILAKUKAN DENGAN MENGGUNAKAN AKAL / KECERDIKANNYA UNTUK MENDAPATKAN KEUNTUNGAN DENGAN JALAN MENEKAN, MENIPU, ATAUPUN CARA-CARA LAIN YANG MEMPERDAYA SEHINGGA MERUGIKAN PIHAK LAIN” (Black’s law dictionary)
Karakteristik Fraud ? • Deception/trickery • Hidden • intentionally • Damage
Actus Reus
Mens Rea
FRAUD TRIANGLE Perceived Opportunity
Fraud Triangle Pressure
Rationalization
Donald R. Cressey, others people money, A study in the social psychology of Embezzlement.
Fraud Tree Classification System
©2008 by the Association of Certified Fraud Examiners, Inc.
Occupational Frauds by Category — Frequency
©2008 by the Association of Certified Fraud Examiners, Inc.
Occupational Frauds by Category — Median Loss
©2008 by the Association of Certified Fraud Examiners, Inc.
FRAUD TREE
Corruption (3)
Asset Misappropriation (2)
Fraudulent Statement (1)
ASSET MISAPPROPRIATION Inventory and All Other Assets
CASH Misuse Larceny
Skimming
Of Cash On Hand
Sales
Receivables
From Deposit
Un Recorded
Write off Schemes
Other
Under Stated
Lapping Schemes
Shell Co. Non Accomplice Vendor
Personal Purchase
Asset. Req & Transfers
Refunds & Other
False Sales & Shipping Purchasing & Receiving Unconcealed Larceny
Un Concealed
Fraudulent Disbursement Billing Schemes
Larceny
Payroll Schemes Ghost Emp. Commission Worker Compensation Falsified Wages
Exp. Reimbursement
Mischaracterized Overstated
Fictitious Multiple Reimburse
Check Tempering Forged Maker Forged Endorse Altered Payee Concealed Checks
Register Disbursement
False Void False Refund Authorized Maker
Skimming Pengambilan kas sblm tercatat dlm sistem akuntansi termasuk off-book fraud Terjadi saat dana masuk dlm sistem akuntansi Tidak meninggalkan jejak audit Penjualan, teller Deteksi : pengaduan pelanggan Pencegahan : kehadiran pengawas secara fisik, kamera video, collection procedures
Larceny Pencurian uang yg sdh masuk dlm sistem akuntansi On-books fraud Kasus Penempatan Deposito milik PT Taspen di BM Kantor Kas Rawamangun
FINANCIAL STATEMENT FRAUD “KECURANGAN / PENIPUAN YANG SENGAJA DILAKUKAN OLEH MANAJEMEN DENGAN CARA PENYESATAN LAPORAN KEUANGAN YANG MATERIAL SEHINGGA MERUGIKAN INVESTOR DAN KREDITOR” (Elliott and Willingham)
TUJUAN
Meningkatkan penjualan saham Menunjukkan adanya kenaikan pendapatan Menutupi ketidakmampuan manajemen Menghilangkan persepsi pasar yang negatif Memperoleh pendanaan Meningkatkan nilai jual perusahaan Memenuhi kesesuaian dalam perjanjian pembiayaan Memenuhi tujuan dan sasaran perusahaan Memperoleh bonus terkait dengan kinerja Mengelabui kewajiban perpajakan
Fraudulent Financial Statements
Asset/Revenue Understated
Asset/Revenue Overstated
Fictitious Revenues
• fake or phantom Customer • Sales with conditions
Timing Differences
• matching revenue with expensees • premature revenue recognition : long term contract, channel stuffing • recording expenses in the wrong period
Concealed Liabilities & Expenses
• liability/expense omissions • capitalized expenses • expensing capital expenditures • returns and allowances and warranties
Improper Disclosures
• improper omissions • subsequent events • management fraud • related party transactions • accounting changes
Improper Asset Valuations
• inventory valuations • accounts receivable • business combinations • fixed assets
Fictitious Revenues
Penjualan fiktif pada customer palsu atau shell company, bisa jg customer yg legitimate Penjualan dicatat tetapi persyaratan tdk dipenuhi, hak dan kepemilikan tidak berpindah ke pembeli
Red Flags
Kenaikan pendapatan yang sangat cepat atau tingkat keuntungan yang tidak wajar dibanding industri sejenis Cash flow dr operasi negatif sementara melaporkan laba atau kenaikan laba yang signifikan Transaksi yg signifikan dg related parties atau dg pihak yg tdk dlm lingkup bisnis Penjualan yang signifikan dgn pihak yg tdk jelas keberadaannya
Timing Differences
Pencatatan revenue dan expenses yg tidak “match” dlm periode akuntansi yg sama Premature Revenue Recognition : • • • •
bukti arrangement belum ada, pengiriman blm dilakukan atau jasa blm diberikan, harga jual blm ditentukan/pasti, kolektibilitas di kemudian hari diragukan (resale of the product atau customer tdk mampu membayar)
Mudah terjadi pd Long term contract Recording Expenses in the wrong Period : pressure to meet budget projections n goals
Red Flags
Kenaikan pendapatan yang sangat cepat atau tingkat keuntungan yang tidak wajar dibanding industri sejenis Cash flow operasi negatif sementara melaporkan laba atau kenaikan laba yang signifikan Transaksi yg signifikan & kompleks terutama menjelang akhir periode pelaporan Kenaikan “margin” yg tdk biasa atau dibanding industri sejenis
Concealed Liabilities and Expenses
Liability/Expenses Omissions : manipulasi dg tdk mencatat hutang/biaya yg sebenarnya, tdk dicatat sama sekali transaksi dibiayai dr sumber pendapatan lain Capitalized Expenses vs expensing capital expenditures Improper return and allowances liabilities (menyangkut kebijakan retur barang)
Red Flags
Cash flow dr operasi negatif sementara melaporkan laba atau kenaikan laba yang signifikan Assets, liabilities, revenues or expenses based on significant estimates that involve subjective judgments or uncertainties that are difficult to corroborate. Keterlibatan manajemen yg berlebihan dlm “mengatur” prinsip akuntansi
Improper Disclosures Laporan Keuangan dan Catatan atas Laporan Keuangan seharusnya jg mendisclose segala informasi yg dpt mempengaruhi pembaca lap keu, improper disclosure yg kerap terjadi : Liability omissions ( adanya contingent liability) Subsequent Events Management Fraud Related-party Transactions Accounting changes
Red Flags
Dominasi manajemen atau pihak tertentu dalam manajemen Komite audit kurang berperan Kenaikan “margin” yg tdk biasa atau dibanding industri sejenis Significant related party transactions Pembatasan akses tertentu bagi auditor intern maupun ekstern
Improper Asset Valuation Fraudulent overstatement of assets : inventory valuation : manipulasi fisik persediaan, penggelembungan unit price account receivable : fiktif, write-off Business combinations Fixed assets
CORRUPTION Conflict Of Interest
Bribery
Purchase Schemes
Invoices Kickbacks
Sales Schemes
Bid Rigging
Other
Other
Illegal Gratuities
Economic Extortion
Conflict of Interest Benturan kepentingan Bisnis dengan kelompok tertentu Kontrak-kontrak jangka panjang Nilai kontrak relatif mahal Nepotisme Terjadi di purchase scheme atau sales scheme
BRIBERY AND KICKBACKS • Menggunakan kewenangan sebagai pejabat publik untuk kepentingan pribadi atau kelompok tertentu • Memberikan perlakuan khusus atau keistimewaan pada perusahaan atau individu tertentu
Kickback or Bribery or Extortion?
Kickback : penjual “mengikhlaskan” sebagian hasil penjualannya Bribery : tidak selalu dalam konteks “transaksi jual-beli” , penyuap mengharapkan keputusan tertentu Economic Extortion : Ancaman/pemerasan terselubung Illegal gratuities : hadiah yg merupakan bentuk terselubung dari penyuapan
Victim Organizations
©2008 by the Association of Certified Fraud Examiners, Inc.
Fraud dalam KUHP Pasal 362 Pencurian Pasal 368 Pemerasan dan Pengancaman Pasal 372 Penggelapan Pasal 378 Perbuatan Curang Pasal 396 Merugikan pemberi piutang dalam keadaan pailit Pasal 406 Menghancurkan atau merusakkan barang Ps 209,210,387,388 dst yg scr khusus diatur dlm UU Tastipikor
Fraud dalam UU khusus 30 Jenis TPK (UU No.31/1999 jo UU 20/2001 Ttg Tastipikor ) 13 jenis TP bidang Perbankan (UUNo.7/1992 jo UU No.10/1998 ttg Perbankan) TP bidang pasar modal (UU No.8/1995 ttg Pasar Modal) TP Bidang Perpajakan (UU No.6/1983 sbgmn diubah terakhir dg UU No.28/2007 ttg Ketentuan Umum dan Tata Cara Perpajakan) Tindak Pidana Pencucian Uang (UU 15/2002 jo UU No.23/2003 ttg Tindak Pidana Pencucian Uang Dll……
