Day One: Tuesday, November 14, 2023
10:30 EST
15 minWelcome and Opening Remarks from the Chair
10:45 EST
60 min
Leveraging Data Mining for Effective Internal Controls
Brian McKenna, Manager Analysis and Liaison, Treasury Board of Canada Secretariat
- Identify anomalies and irregularities in large datasets to detect potential fraud, errors, or deviations from established internal controls
- Analyze patterns, trends, and outliers within the data
- Leverage historical data to build predictive models that forecast potential risks or control weaknesses
- Facilitate continuous monitoring of internal controls by automating the analysis of large volumes of data in real-time
- Perform in-depth root cause analysis to understand the underlying factors contributing to control failures
11:45 EST
60 min
The Art of Deceit: Uncovering the Exploits of a Master Disability Fraudster
Beatrice Harrietha, Manager, Fraud Risk Management, Sun Life Financial
This case revolves around a fraudster that created a false business. Then purchased a medical insurance plan for the business. Then created false employee profiles
Then impersonated those employees. Then submitted fake claims and went to great lengths to conceal his identity and the fraud
12:45 EST
45 minBreak
13:30 EST
60 minMaking Sense of AI and Internal Controls
Ashaye Wale, IT Audit, Assurance, Information Security & SOC Audit, BDO Canada
14:30 EST
60 min
Integrated Risk Management
Purnima Pandit, Manager, Internal Controls, The Ottawa Hospital
Coordination and collaboration across The Three Lines when managing risks across the organization, including risk interrelationships and dependencies. Benefits include risk awareness, efficiencies, cost savings, timely decision making etc. Challenges include continuous support from executives, frequent regulatory changes, ease of standardization etc.
15:30 EST
60 min
Implementing Data Analytics to Strengthen Internal Controls in the Public Sector
- Understand the importance and benefits of implementing data analytics
- Design and implement a data analytics program to strengthen internal controls
- Identify tips and challenges in implementing data analytics
- Highlight examples of data analytics tests that can be implemented
- Explore how data analytics be implemented using the three lines model
16:30 EST
Closing Remarks from the Chair
Day Two: Wednesday, November 15, 2023
10:30 EST
minWelcome and Opening Remarks from the Chair
10:30 EST
60 min
The Added Value of Internal Controls Related to Ethics
Marc Y. Tassé, Departmental Audit Committee, Public Safety Canada
- Detect and prevent fraud
- Foster ethical behavior
- Ensure transparency
- Strengthen accountability
- Safeguard reputation
11:30 EST
60 min
Bringing Controls Up Front: Enhancing Internal Controls to Prevent Fraud, Waste & Abuse in the Public Sector
Pavithra Chandramouli, Senior Manager, Financial Advisory, Deloitte
- Understand the current state of Program Integrity (Fraud Waste & Abuse prevention) in the Canadian Public sector
- Conduct fraud risk assessments to map controls to fraud risks
- Consider the value of prevention vs detection and investigations
- Improve controls by embedding them in business processes and the citizen lifecycle
- Build a feedback look to understand controls performance and continuously improve fraud prevention
12:30 EST
45 minBreak
13:15 EST
60 minStrengthening Internal Controls in the Public Sector to Prevent Benefits Fraud
- Conduct a comprehensive risk assessment specific to benefits programs in the public sector to identify potential fraud risks
- Analyze historical data, patterns, and trends to detect potential fraud indicators and develop predictive models that can flag suspicious activities or anomalies in benefit claims
- Integrate data from multiple sources, such as government databases, financial records, and beneficiary information, to establish a centralized data repository
- Utilize data analytics techniques to analyze and identify patterns, anomalies, and outliers that may indicate fraudulent activities
- Enhance Identity verification processes for benefit applicants and recipients to prevent identity theft and fraudulent claims
14:15 EST
60 minResilient Financial Controls: Augmenting Monitoring Programs for Enhanced Risk Management
- Develop a risk-based monitoring program that focuses resources on high-risk areas and activities
- Conduct a comprehensive risk assessment to identify and prioritize potential risks, and allocate monitoring efforts accordingly
- Leverage technology and automation tools to implement continuous monitoring processes
- Conduct independent testing and audits of internal controls to validate their effectiveness
- Establish robust reporting mechanisms to communicate monitoring results to management and relevant stakeholders
15:15 EST
60 min
Optimizing Procure-to-Pay: Assessing Internal Controls for Efficiency and Risk Mitigation
Adewunmi Adeagbo, Offshore Compliance Auditor, Government of Canada
- Evaluate the segregation of duties within the procure-to-pay process to ensure that no single individual has complete control over the entire process
- Implement robust supplier due diligence processes to mitigate the risk of engaging with unreliable or fraudulent suppliers
- Conduct thorough background checks, financial assessments, and reputation reviews before onboarding new suppliers
- Improve controls around purchase requisitions and approvals to prevent unauthorized or inappropriate purchases
- Streamline and automate the invoice processing and payment processes to minimize errors, delays, and fraudulent activities
16:15 EST
Closing Remarks from the Chair