Speaker of Plenary Session Discovering the Infinite Potential in Advisory & Consultancy: Forensic Accounting

Chong Shao Yen

Executive Director

PricewaterhouseCoopers Advisory Services Sdn. Bhd.

Mr Chong Shao Yen is an Executive Director with the Forensics team of PricewaterhouseCoopers Advisory Services Sdn Bhd.

Shao Yen has over 30 years working experience, providing specialist forensic services to private and public institutions in various industry sectors including finance, IT, manufacturing and oil & gas.

He is also experienced in providing litigation support services and acting as an expert witness. Shao Yen has also been involved in special administrations, receiverships, liquidations and corporate restructuring locally as well as with the PwC firm in Australia and New Zealand.

Shao Yen is a Fellow of the Association of Chartered Certified Accountants (United Kingdom) and a Member of the Malaysian Institute of Accountants.

Speak to him

Mobile: +60 3 2173 1328

Email: shao.yen.chong@my.pwc.com

Plenary Session 3

Plenary Session 3: Perfect Your Pitch

The skills you develop today could launch you on a career packed with lifelong satisfaction. During our session on "Perfect Your Pitch', we'll be sharing with you on how to take the first step in gaining these skills and competencies. It's not rocket science, you might have gained many of them through your studies. Others could have come from part-time work, internships or something else entirely. What’s important is that you can build on the skills we’re looking for. This'll help you define and build your personal brand: the X factor that differentiates you and makes you valuable. Don't wait, start your journey now. 

p/s: Please take note that we have changed the topic of Plenary Session 3 from Reaching Towards the Unconventional Dream to Perfect Your Pitch

Speaker of Plenary Session 1

Speaker of The Rise of Asian Economy

Dr Yeah Kim Leng is the group chief economist of RAM Holdings Berhad, Malaysia’s first credit rating agency that was incorporated in 1990, which then known as Rating Agency Malaysia Berhad (RAM). He joined the company in 1994 to start the Economics & Market Research Department. During the first 6 years, he led the organisation’s research and publication thrusts in macroeconomic outlook, industry studies and bond market development. Before joining RAM, he had been a senior analyst at  Institute of Strategic and International Studies (ISIS) Malaysia, where he had been involved in a number of research projects on national economic policies. Prior to joining ISIS upon his return from post-graduate studies overseas, he had a 7-year stint in forest resource management and planning with the Forestry Department Headquarters of Peninsular Malaysia and the Sabah Foundation. 

Speakers of Plenary Session 2

The Speakers of Discovering the Infinite Potential in Advisory and Consultancy

Tan Theng Hooi is the Country Managing Partner of Deloitte Malaysia.  He is also a member of Deloitte Southeast Asia’s Board of Directors.

Theng Hooi has over 30 years of experience in public accounting practice with Deloitte. He has vast experience in providing audit, tax and business advisory services to both multinational and local companies across a wide spectrum of industries. Theng Hooi (decide whether want “Theng Hooi” or “Tan”) specializes in giving business advisory and consultancy services to foreign and local private entities on corporate structure, governance and also listing of companies on the Malaysian Stock Exchange.  He also served many large multinational clients as business advisor in the set up of their manufacturing and business operations in Malaysia.  

 Left: Philip Rao

Philip is a Partner with Risk Services practice in EY Malaysia and also the ASEAN Risk Services Leader (covering 8 countries in the region). In his 22 years with Ernst & Young, he has served on various external and internal audits, risk management and corporate governance, and corporate finance engagements apart from the experience gained through secondments both overseas and locally. He was the Joint Engagement Director of the Risk Management(ERM) engagement in Bursa Malaysia, Engagement Director for large scale ERM engagements including for Golden Hope Plantations Bhd Group. His external audit responsibilities include engagement Director on the audit of Malaysia’s premier expressways company, where EY acted as reporting accountants for the IPO of the company, then lead to one of the largest IPOs in Malaysia. Besides, he is regular speaker and trainer on risk assessment. 

Plenary Session 2
Discovering the Infinite Potential in Advisory and Consultancy
by Forensic Acc-Sukdev Singh

MUSCAT: “There are tricks for identifying fraud, but also ways to prevent it from happening.”

In this session, three main issues will be discussed which include forensic accounting, internal auditing and corporate restructuring.

1. Forensic Accounting
Forensic accounting is a type of accounting practice that specially engages with legal proceedings and controversies. The emergence of forensic accounting can be traced back to just few years ago, where they act as forensic auditors or investigative auditors to give their professional opinions on frauds to be used on court. Recently, the larger firms have started to form a unit and even department for forensic accounting. Through this, we can see that the importance of forensic accounting is far more significant, beyond our expectations.

Sources: Journal of D.Larry Crumbley

2. Internal Audit 
Internal audit is another field of accounting which has been a major concern for many firms. People start to aware of the consequences of fraud, some even untraceable. The loopholes in the auditing process are always the opportunities in committing fraud. When there is opportunity, ethic is no more exists but greed is slowly surfacing. Hence, internal audit would be a protective wall, to deter all the crimes from loopholes. The role of internal auditors would become more vital in sustaining the firms’ value and prospect.

3. Corporate Restructuring
Corporate restructuring refers to the process of redesigning the systems and operations of the company to reach a higher level of competence. Undoubtedly, the upgrading process is not easy, as to strengthen the company’s position and create values for the company. Here is where the role of advisory and consultancy come in. With the assistance of an advisor or consultant, company can gain competitive advantage with a minimal effort. Hence, the potential of advisory of consultancy have grown tremendously, especially during the economic recession. Here we would discover the power of advisory and consultancy.

Introducing Speaker for Plenary Session 3

Dato' Seri Johan Raslan

Dato' Seri Johan Raslan is the Executive Chairman of PwC Malaysia, and a member of the Joint Leadership Team of PwC SEAPEN Region. The PwC SEAPEN Region comprises Malaysia, Thailand, Vietnam, Cambodia and Laos and employs more than 3000 people. He has 30 years experience in audit and business advisory in Malaysia and the United Kingdom.

At PwC Malaysia, Johan also oversees Human Capital matters and has a keen interest in developing and engaging with young talents. He has spoken at several student conferences on areas related to the younger generation of the workforce, the Gen Y.

Johan holds a degree in Economics and Accountancy from the United Kingdom, and is a Fellow of the Institute of Chartered Accountants in England and Wales. He takes a keen interest in the areas of corporate governance, corporate reporting, corporate responsibility and sustainability.

He is currently President of the Malaysian Institute of Certified Public Accountants (MICPA) and a Council member of the Malaysian Institute of Accountants. Johan is also immediate past Chairman of the Financial Reporting Foundation, the body which oversees the work of the Malaysian Accounting Standards Board.

Johan is a Board member of Putrajaya Corporation and of Kumpulan Wang Persaraan (Diperbadankan), both of which are appointments by the government. He was a member of the Securities Commission of Malaysia’s Corporate Governance Consultative Committee - which advised on the recently launched Corporate Governance Blueprint.

He is also an Eisenhower Fellow and President of the Kuala Lumpur Business Club.

Plenary Session 1:

The Rise of Asian Economy: Who Are We?

Dr. Yeah Kim Leng, speaker for the session

The rise of emerging economies—especially the giant Asian economies are changing the structure of world trade and finance rapidly. It is projected that the 21st century will be Asia’s century. This is happening because the Asians have finally absorbed and understood Western best practices in many areas, from free market economy to the embrace of innovative science and technology, meritocracy and the rule of law. And of course, Asians have become innovative in their own way, creating new patterns of cooperation not seen before.

Developing Asia is expected to continue growth trend, expanding at 8.5-8.7% in GDP terms for the next 5 years. Presently, China is already the second largest economy in the world. China overtaking Japan in real GDP terms after the second quarter of 2010, hence becoming second only to the United States. Based on current trends, Dr Gene Huang, ranked one of the world's most accurate forecasters, anticipates that China will take over US's position as global economic powerhouse by 2020.

By looking at the rising trend of Asian’s economy, our main focus today is to rediscover what makes us, as Malaysian, unique and position ourselves in this fast changing globalization world as well as how much are we being influenced by the rise of Asian’s economy. In short, we could foresee that the rising of Asian’s economy may present many challenges, but yet, it will also open up new and unprecedented opportunities for the region and for the world.