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  • Monday, January 22, 2024 10:55 AM | Kyle Kanstein (Administrator)

    The ACFE-GTA Chapter, in partnership with CPE Studios and the Rotman School of Management, is pleased to announce a Special Chapter Film Event on February 1, 2024. The ACFE-GTA Chapter is committed to providing high quality and affordable training for its membership. Strategic partnerships like this only strengthen our Chapter's ability to fulfill its mission.

    This 90-minute documentary film screening and panel discussion will include a certificate of completion from the Rotman School of Management for 1.8 ethics CPE recognized by the ACFE-GTA and the Law Society of Ontario (LSO). 

    Active ACFE-GTA Chapter Members will receive a 25% off coupon code via email on January 26, 2024 to register at the event website. Please note, registration is done directly through Eventbrite and registrants must use the ACFE GTA-Chapter coupon code to receive a certificate of completion. 

    Event Synopsis:

    My Wall Street Heist: The Gary Foster Story is a compelling 20-minute documentary by Garrick Apollon that delves into the intricacies of the fraud case involving Gary Foster, a former vice president at Citigroup who illicitly siphoned off more than $22 million. The film sheds light on the multifaceted layers of corporate culture, trust, and inadequate auditing processes that inadvertently contributed to Foster's financial crimes.

    Navigating the labyrinth of Wall Street, the documentary unveils the complex dynamics that allowed Foster to ascend from modest beginnings to a senior executive role. However, as the story unfolds, it becomes evident that Foster's journey is a cautionary tale of how even the most successful individuals can stray.

    Through Foster's firsthand account, the documentary delves into the emotional drivers behind employee theft, underscoring the critical importance of implementing robust fraud prevention and detection controls. Beyond this, the film also underscores the significance of cultivating a corporate environment characterized by integrity, diversity, equity, and inclusion. Foster's tale serves as a poignant reminder of the potential consequences when these essential elements are overlooked, emphasizing the need for a holistic approach to safeguarding against financial malfeasance.

    My Wall Street Embezzlement is not merely a chronicle of white-collar crime; it's a narrative that prompts reflection on the broader implications of corporate structures and their impact on individuals from diverse backgrounds. As the documentary unfolds, it prompts the audience to consider the ways in which fostering a culture of ethical conduct and inclusivity can be instrumental in preventing similar lapses in the future.

    The film will be followed by a panel conversation featuring Gary Foster, filmmaker and lawyer Garrick Apollon, Rotman School accounting professor Aida Sijamic Wahid, and moderated by Brett Hendrie.

    A CPE Studios Original Documentary, produced in association with the Association of Certified Fraud Examiners (ACFE).

    Speakers:

    Garrick Apollon, Founder, CPE Studios
    Gary Foster, Convicted Fraudster, Former Wall St. Banker & Anti-Fraud Trainer
    Aida Sijamic Wahid, Associate Professor of Accounting, Rotman School and University of Toronto Scarborough

    For more information visit: https://www.eventbrite.ca/e/my-wall-street-heist-the-gary-foster-story-doc-screeningpanel-tickets-769819429637?aff=DBEMAIL


  • Thursday, January 04, 2024 8:47 PM | ACFE-GTA Administrator (Administrator)

    PRESIDENT’S 2024 NEW YEAR MESSAGE

    January 4, 2024

    Mark McManus
    B. Comm. (Hons.), M. Ed., CTDP, CAMS, CFE
    President & Chief Executive Officer

    Happy New Year!
    • The Association of Certified Fraud Examiners is the world’s largest anti-fraud organization that works to reduce occupational fraud and other financial crime worldwide. Serving Central and Southwestern Ontario, the GTA Chapter supports the mission of the ACFE by:
      • Delivering best-in-class Continuing Professional Education (CPE) & Training that is affordable, high quality, and Canadian-based wherever possible,
      • Fostering an interactive network of anti-fraud professionals, and
      • Encouraging the next generation of anti-fraud professionals through Outreach programs to local colleges and universities.
    Delivering Best-in-Class CPE Training
    During 2023, the Chapter offered 32 hours of CPE Training at an average cost of $18.69 per CPE for Chapter Members, and $24.16 per CPE for Non-Chapter Members (all before HST). CFEs who pay the $75 to be a Chapter Member saved $100 if they attended all 6 course offerings. In 2024, the savings will increase to $223, as the Chapter standardizes the average discount to Chapter Members at ~30%.
    Our 2024 Training Plan is complete and you can now register for all 2024 events on our website. The Training Committee has worked diligently to bring you another year of outstanding speakers. In keeping with the wishes of a significant majority of attendees (over 75%), Chapter events will continue to be virtual through Zoom, with the exception of the Annual General Meeting & Networking Reception, which will be an “In‑Person” event only.
    In 2024, we will be introducing a new signature training event in the April time-slot. “Fighting Fraud in the Twenty-First Century” is the successor program to our Fraud Investigation Techniques (FIT) Forum, which we co-hosted with the Council of Professional Investigators for the past ten years or so. Times change, as do expectations and requirements. The Chapter is grateful for the past FIT training partnership with the CPIO and we wish them continued success in their endeavours going forward.
    Fostering an Interactive Network of Anti-Fraud Professionals
    In June, over 85 folks attended our In-Person Networking Reception & Annual General Meeting. We welcomed some of our third-party suppliers as well, including Larry Levi (Levi Software in Belleville) and Thomas Hunter, JD (from SV Law in Guelph). The annual Reception is an excellent opportunity to meet colleagues and friends, as well as build new professional relationships. All CFEs, as well as members of the greater community fighting financial crime are invited to attend the 2024 Networking Reception on June 13 at the Amsterdam Barrel House in the East York district of Toronto.
    Encouraging Next Generation of Fraud Fighters
    In 2023, we moved forward with our vision to support students enrolled in local college fraud examination and investigation programs through a new scholarship program, free enrolment in Chapter Training events, and the opportunity to volunteer with the Chapter and network with CFEs. As 2024 progresses, we anticipate a further expansion of the Scholarship program to one or two universities in our territory.
    The Chapter delivered Scholarships (paying all costs associated with the CFE Exam Prep Course & the Exam itself) to 5 students in the Fraud Examination & Forensic Accounting Post-Graduate Certificate Program (FEA) at Seneca Polytechnic in Toronto. All five winners obtained their CFE credential by the end of the summer. I represent the Chapter on Seneca’s FEA Program Advisory Committee. We want to thank one of our first scholarship winners, Chakshu Verma, CFE, for signing on as a Chapter Volunteer, and for his insight and support over the past five months.
    We also forged a new relationship with Conestoga College in Kitchener, and will be offering the same Scholarship program to students in their Fraud Investigation & Risk Management Post-Graduate Certificate Program (FIRM). Andrew Kautz, CFE, the Secretary to the Board, is now a member of Conestoga’s FIRM Program Advisory Committee.
    Chapter Administration
    In June, at the AGM, all existing Directors, with the exception of two, stood for and were re-elected to another four-year term. We welcomed Mandy Yousif, CFE and Stephanie Greenwald, CFE, and thanked Tim Zimmerman, CFE and Jordan McManus, CFE, who stood down as their term ended.
    In August, a Special Members’ meeting was held, attended by 17 voting, paid-up Members of the Chapter, where an ‘Extraordinary Resolution’ as required under the ONCA (2010) was unanimously passed authorizing that for the Fiscal Year ending December 31, 2023, the ACFE-GTA Chapter (a) not appoint a Licensed Public Accountant; (b) not have an audit; (c) not have a review engagement; and (d) to have a regular review of the Fiscal 2023 Financial Statements by an independent Chartered Professional Accountant and not a Licensed Public Accountant; and (e) to appoint Jagmohan (Jag) Budwal, CPA, CFE, CFI, Q. Med., to act as the person to conduct such review.
    In October, the Chapter Board of Directors was well represented at the 2023 ACFE Fraud Conference Canada, held this year in Montreal. Dorian Dwyer, CFE, Past President & Chair of the Board, Mandy Yousif, CFE, Director, and I attended. Mandy and I made a presentation on Managing Third Party Fraud Risk, which was well attended and received.
    In December, our EVP & Chief Compliance Officer, Kyle Kanstein, CFE, represented the Chapter at the inaugural Chapter Leaders’ Summit in Austin, Texas. Over 50 leaders from across the United States & Canada exchanged ideas and discussed ways to make the local chapters more successful. Kyle was able to become acquainted with other chapter leaders, and deepen our relationship with the ACFE Chapter Development Manager, Joe Broccolo, CFE, as well as the ACFE CEO, John Warren, JD, CFE, and the ACFE President, John Gill, JD, CFE, both newly appointed in their roles.
    e-Learning On-Demand Platform
    Our Director, Chapter Liaison, Penny Hill, along with Larry Levi, our external IT advisor, has been working diligently to improve the e-Learning Platform. Over the next three or four months, you will see an improved interface and simplified process for ordering an on-demand course. This is just one more way your Chapter is trying to deliver value-added services to all CFEs in our territory and at a reasonable cost. If time is running out for you to acquire your required CPE credits at annual credential renewal time, look no further than our e-Learning Platform!
    Thank You
    Your Board of Directors continues to work tirelessly to actualize our purpose while fostering a true sense of professionalism and camaraderie among CFEs. In closing, I would like to take this opportunity to recognize and thank all members of our volunteer Board of Directors for their contributions over the past year. We are a strong and dedicated team that continues the proud heritage of the GTA Chapter. However, our efforts are only successful and meaningful when we have an engaged and committed community of CFEs. The Board is grateful for your continued support of the Chapter and dedication to our profession. We look forward to seeing everyone at our CPE and Networking events in 2024!
    Sincerely,


  • Wednesday, December 13, 2023 11:39 AM | ACFE-GTA Administrator (Administrator)

    Toronto, ON: Kyle Kanstein, the GTA Chapter's Executive Vice-President & Chief Compliance Officer is attending the inaugural ACFE Worldwide Chapter  Leaders Summit in Austin Texas on December 14 & 15, 2023. He is shown here with John  Warren, JD, CFE (the ACFE CEO) and John Gill, JD, CFE (the ACFE President). Thanks to Kyle for representing the ACFE-GTA Chapter at this important event.


  • Tuesday, October 31, 2023 11:12 AM | ACFE-GTA Administrator (Administrator)

    Montreal, QC: The annual ACFE Canadian Fraud Conference is being held in Montreal this year from October 29 to 31 at the Palais des Congres. Two directors of Greater Toronto Area (GTA) Chapter, Mandy Yousif and Mark McManus, are speaking on managing and mitigating "Third Party Risk." A third director, Dorian Dwyer, is also representing the ACFE-GTA Chapter at the conference; there is good Chapter visibility here in Montreal. With over 200 Certified Fraud Examiners (CFEs) in attending, the conference is a big success. Next year's conference will be held in Ottawa, and in 2025, the annual conference returns to Toronto.


  • Monday, October 23, 2023 5:59 PM | ACFE-GTA Administrator (Administrator)

    Toronto, ON: The ACCA North America, a sponsor of the ACFE-GTA Chapter, is holding an "Accounting for the Future" conference from November 21 to 23, 2023.

    Any CFEs or Associate Members of the ACFE may register fro free and earn up to 21 CPE/CPD FREE credits.

    Register Here

    Also, the ACCA North America is bringing the global public sector community together on November 24 to discuss the biggest challenges facing the public sector today. Join live or on demand. Free to attend.

    REGISTER for Public Service Conference HERE

  • Tuesday, August 22, 2023 10:57 AM | ACFE-GTA Administrator (Administrator)

    Toronto, ON: The Chapter offers its congratulations to Detective Staff Sergeant Kyle Kanstein, CFE, and his Ontario Provincial Police (OPP) - Ontario Serious Fraud Office (SFO) Team being recognized for excellence and diligence in fraud investigation by the Canadian Bankers Association on August 21, 2023 at the annual summit of the Canadian Association of Chiefs of Police in Ottawa ! Kyle volunteers as a Member of the Board of Directors and as Executive Vice-President & Chief Compliance Officer of our Chapter! It is a great honour to have Kyle associated with the Chapter.

    Read the Canadian Bankers Association Press Release


  • Monday, August 21, 2023 3:44 PM | ACFE-GTA Administrator (Administrator)

    Toronto, ON: On Monday August 21, 2023, the ACFE-GTA Chapter held a Special Members Meeting to consider an Extraordinary Resolution (requiring 80% of the Members present at the meeting voting in favour of the resolution, providing quorum is achieved), as defined by the Ontario Not-For-Profit Corporations Act (2010), which was proclaimed on October 19, 2021. The meeting was attended by 17 Voting, Paid-Up Members of the Chapter, who unanimously (100%) voted in favour of the Extraordinary Resolution, which was carried. Quorum for the meeting, as specified in the Chapter's By-laws, was 8 Voting, Paid-Up Members in attendance (5% of the Voting, Paid-Up Membership as of August 21, 2023).

    The Extraordinary Resolution:

    That for the Fiscal Year ending December 31, 2023, the ACFE-GTA Chapter (a) not appoint a Licensed Public Accountant; (b) not have an audit; (c) not have a review engagement; and (d) to have a regular review of the Fiscal 2023 Financial Statements by an independent Chartered Professional Accountant and not a Licensed Public Accountant; and (e) to appoint Jagmohan (Jag) Budwal, CPA, CFE, CFI, Q. Med., to act as the person to conduct such review.

  • Thursday, July 27, 2023 4:36 PM | ACFE-GTA Administrator (Administrator)

    Toronto, ON: As the school year was coming to end in April, 2023, with the assistance of the program co-ordinator and the program professors, the ACFE-GTA Chapter awarded Chapter Scholarships to five students in the Seneca Polytechnic Fraud Examination and Forensic Accounting Post-Graduate Certificate Program. The scholarship provides each student with the ACFE Examination Package, including the course materials, the examination fee, and a year’s membership in the ACFE.


    Mark McManus, President & Chief Executive Officer of the ACFE-GTA Chapter said "On behalf of the ACFE-GTA Chapter Board of Directors and the Association of Certified Fraud Examiners, I offer my sincere congratulations to Chakshu Verma, Durojaiye Oluwatobi, J. Sarah Armstrong, Leslie Andrea Cipriano, and Cecilia Dollente on this significant achievement. We look forward to five new top-notch additions to the ranks of the Certified Fraud Examiners profession."

    All five winners have either successfully completed their examinations and have now received their Certified Fraud Examiner (CFE) credential, or are now in the process of writing the examination to obtain their CFE credential.

    The Chapter would like to express their sincere thanks to Seneca Polytechnic, The Association of Certified Fraud Examiners (headquartered in Austin, Texas), Professor & Program Coordinator Cameron McCaw, CFE, Professor Casse'ne Stephens, CFE, Sara Potkonjak, (Chair of the  School of Accounting & Financial Services, Seneca), Joe Broccolo, CFE (Manager, ACFE Chapter Development), Jordan McManus, CAMS, CFE (former Member of the Chapter Board of Directors), and Elodie Goncalves, CFE, (current Member of the Chapter Board of Directors & Director of Membership).

    Toronto, ON: As the school year was coming to end in April, 2023, with the assistance of the program co-ordinator and the program professors, the ACFE-GTA Chapter awarded Chapter Scholarships to five students in the Seneca Polytechnic Fraud Examination and Forensic Accounting Post-Graduate Certificate Program. The scholarship provides each student with the ACFE Examination Package, including the course materials, the examination fee, and a year’s membership in the ACFE.

    Mark McManus, President & Chief Executive Officer of the ACFE-GTA Chapter said "On behalf of the ACFE-GTA Chapter Board of Directors and the Association of Certified Fraud Examiners, I offer my sincere congratulations to Chakshu Verma, Durojaiye Oluwatobi, J. Sarah Armstrong, Leslie Andrea Cipriano, and Cecilia Dollente on this significant achievement. We look forward to five new top-notch additions to the ranks of the Certified Fraud Examiners profession."

    All five winners have either successfully completed their examinations and have now received their Certified Fraud Examiner (CFE) credential, or are now in the process of writing the examination to obtain their CFE credential.

    The Chapter would like to express their sincere thanks to Seneca Polytechnic, The Association of Certified Fraud Examiners (headquartered in Austin, Texas), Professor & Program Coordinator Cameron McCaw, CFE, Professor Casse'ne Stephens, CFE, Sara Potkonjak, (Chair of the  School of Accounting & Financial Services, Seneca), Joe Broccolo, CFE (Manager, ACFE Chapter Development), Jordan McManus, CAMS, CFE (former Member of the Chapter Board of Directors), and Elodie Goncalves, CFE, (current Member of the Chapter Board of Directors & Director of Membership).

    The Association of Certified Fraud Examiners (ACFE) is the world's largest anti-fraud organization. Together with more than 90,000 members, the ACFE works to reduce business fraud, and other financial crime worldwide as well as inspire public confidence in the integrity and objectivity within the profession. By delivering best-in-class training, offering the CFE credential, and fostering a dynamic, global community of anti-fraud professionals, the ACFE is reducing fraud, corruption, and other financial crime worldwide, and assisting the membership in its detection and deterrence.

    Serving Central and Southwestern Ontario, including the Greater Toronto Area and the Golden Horseshoe, the GTA Chapter supports the mission of the ACFE by: (a) delivering affordable, best-in-class training to Certified Fraud Examiners, (b) fostering a dynamic and interactive local network of anti-fraud professionals, and (c) encouraging the next generation of anti-fraud professionals through outreach programs to local colleges and universities.

  • Thursday, July 13, 2023 6:17 PM | ACFE-GTA Administrator (Administrator)
    Toronto, ON: Today, the ACFE President & Chief Executive Officer, Bruce Dorris, released the 2023 Global Fraud Survey and called upon all Certified Fraud Examiners to take the time to complete this critical information gathering tool.

    The data gathered in this survey will form the basis for the 2024 edition of "Occupational Fraud: A Report to the Nations", the most widely quoted source of information on occupational fraud in the world. The deadline for submission is September 2, 2023.

    Certified Fraud Examiners may complete the survey by clicking on this link:

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