GTA Chapter News

Toronto, Ontario: On May 16, 2024, the ACFE-GTA Chapter co-sponsored the Canadian Regional Meeting of the Council of International Investigators at One King St W, Toronto, Ontario.

Hosts for the day were the the CII Canadian Regional Director, Keith Elliott, President & Chief Executive Officer of Reed Research Ltd., an international investigations and intelligence firm and Jeremy King of King International Advisory Group, a leading Canadian-based fraud investigation agency.

Mark McManus, President & Chief Executive Officer attended on behalf of the ACFE-GTA Chapter.

Although the Council of International Investigators is a comparatively young organization, having been formed in 1955, it has achieved a position within the private investigation business, and before the public, as the spokesperson for ethical private investigators throughout the world. Certified membership of the Council of International Investigators confers a level of distinction and prestige to those members who meet the strict criteria set for this type of member. The adoption of, and strict adherence to, the Council of International Investigators’ Code of Ethics has met with universal approval by public law enforcement agencies, legislatures, and public officials.

The Association of Certified Fraud Examiners (ACFE) is the world's largest anti-fraud organization. Together with more than 95,000 members in over 130 countries, 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:

• Delivering affordable, best-in-class training to Certified Fraud Examiners,
• Fostering a dynamic and interactive local network of anti-fraud professionals, and
• Encouraging the next generation of anti-fraud professionals through outreach programs and scholarship awards to local colleges and universities.

Toronto, Ontario: On May 15, 2024, the ACFE-GTA Chapter co-sponsored "Empowering Young Professionals Panel Discussions & Networking Evening" with the local chapter of the Chartered Business Valuators (CBV) Institute.

Attending on behalf of the GTA Chapter were Stephanie Greenwald, CFE, CBV Director, Mark McManus, CTDP, CAMS, CFE, Chapter President & Chief Executive Officer, and Kyle Kanstein, CFE, Executive Vice-President & Chief Compliance Officer. A former Chapter director, Tim Zimmerman, CBV, CFE was also in attendance.

The event was jointly held in collaboration with the Toronto Lawyers Association, the CBV Institute and the ACFE-GTA Chapter and was hosted by RSM Canada LLP. Thanks to our panelists, Heyla Vettyvel, Associate, Gowling WLG, and Nyla Roopnarinesingh, CBV, Senior Manager, Crowe Soberman, as well as to Dawn Ellis, CBV for organizing the event. Kyle and Mark presented on the topic of occupational fraud, detection, and the benefits of having a CFE Credential to an engaged group.

L to R: Kyle Kanstein, Dawn Ellis, Mark McManus

CBV Institute upholds the highest standards of business valuation practice CBVs are indispensable in the world of business and finance. When parties need to determine the value of their business, they turn to a Chartered Business Valuators for answers. CBVs combine technical knowledge with real-life practical experience to put forward globally respected valuations of a business, a business interest, and.or intangible assets. CBVs are employed in a wide variety of businesses, including valuation firms, venture capital/private equity/investment firms, accounting firms, and financial institutions.

The Association of Certified Fraud Examiners (ACFE) is the world's largest anti-fraud organization. Together with more than 95,000 members in over 130 countries, 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 ACFE-GTA Chapter supports the mission of the ACFE by:

• Delivering affordable, best-in-class training to Certified Fraud Examiners,
• Fostering a dynamic and interactive local network of anti-fraud professionals, and
• Encouraging the next generation of anti-fraud professionals through outreach programs and scholarship awards to local colleges and universities.

Toronto, Ontario: The ACFE-GTA Chapter announces the Annual General Meeting for the Fiscal Year ending December 31, 2023, AND a Special Members Meeting to pass an Extraordinary Resolution (as required under the ONCA (2010) will be held on Thursday June 13, 2024 at the Amsterdam Barrel House, 87 Laird Dr, Toronto, Ontario at 6:30 pm and 6:45 pm respectively.

Only Paid-Up Chapter Members in Good Standing (which does not include Chapter Student Affiliates or Chapter Affiliates) may vote at the Annual General Meeting and at the Special Members Meeting. Members may find the relevant documents here.

As part of the AGM, the President and Chief Executive Officer will provide a brief overview of the Chapter's work during 2023 and introduce the winners of the 3 Scholarships awarded by the Chapter to students in Seneca Polytechnics' Fraud Examination & Forensic Accounting post-graduate Certificate program. The scholarships allows the winners to obtain the CFE Exam Preparation Silver Package to the write the CFE Exam at no charge. The value of each scholarship awarded approximates US$999.00. Last year, the Chapter awarded five scholarships to Seneca students.

The two meetings will be held in conjunction with the Chapter's Annual In-Person (only) Networking Event. All Certified Fraud Examiners in the GTA, Central and Southwestern Ontario, as well as all our colleagues involved in financial crime and fraud prevention, detection, deterrence, examination or investigation are welcome to attend the Networking event. You may register for the Networking Event here.

Toronto, Ontario: On April 17, 2024, Mark McManus, President & Chief Executive Officer and Penny Hill, Director, Chapter Liaison, represented the GTA Chapter at the ACCA North America Member Recognition Ceremony at The Carlu, in downtown Toronto. As the ACCA is a sponsor of GTA Chapter events, Penny and Mark were delighted to have been invited by Jillian Couse, Head of ACCA North America, and were pleased to attend.

L to R: Mark McManus, Jillian Couse, Penny Hill

Mark & Penny speaking with Paul K. Wing, a member recognized at the ceremony for his long and distinguished service to the ACCA.

Toronto, Canada: This past week, Kyle Kanstein, CFE, the Greater Toronto Area Chapter Executive Vice-President & Chief Compliance Officer participated in a meeting at the ACFE World Headquarters in Austin, Texas.

Kyle was part of a job analysis task force consulting on modernizing and scrutinizing relevant content for future exams. Kyle was joined by Certified Fraud Examiners from North America, South Africa, Europe, and Australia. (In the photo above, Kyle is top row, third from the left.)

The ACFE-GTA Chapter is pleased to support such ACFE World Headquarters initiatives. We thank Kyle for contributing his time, expertise, and experience to this project, and representing the Greater Toronto Area Chapter. (In the photo above, John Gill, JD, CFE, ACFE President, is seen at the top of the stairs.)

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,

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.

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.

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

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.