The Cost of Dishonesty and The Wealth of Trust
AI Integration
Forensic Accounting Tools
Contact us to arrange a WSQ Corporate Course Run for Your Company!
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Companies today spend billions on compliance, audits, cybersecurity, and lawsuits.
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Governments spend billions on enforcement, prisons, and surveillance.
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Yet none of these solve the root problem pervasive within most Companies
A trust-based culture, seeded by your Company, shows that the most efficient system is honesty itself.
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When trust replaces fear, resources are freed for creativity, learning, and service.
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When honesty replaces control, society runs leaner and happier.
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Within our Course, we help Companies to gradually transition from one of heavy policing and surveillance which itself eats up huge resources to one towards trust based. This transition cannot be abrupt and sudden but we encourage slow transition. Controls removed may cause havoc, so we need to balance cost of controls and surveillance with the need of such.
We have heard everywhere on how AI can do work hundreds of times faster than human and with much greater precision. With all honesty, we don't claim that we are the best experts for AI but we gauge that we are at least half past six, if not 7.2. Meaning, we are far ahead of zero knowledge or skills in AI integration into Companies' operations and compliances. We have tech people within our team, in addition to accounting, tax, compliances and to some degree, people with good legal knowledge. Combining these expertise and, integrating AI, work duplication should be reduced, aiming to reduced to zero. That means, raw data that are captured, as far as possible, should be configured that it can be manipulated with AI into meaningful output, instead of additional data entries, wasting tremendous time. Data captured from direct stakeholders such as employees, customers, suppliers can be made possible. Stakeholders are persuaded to enter data with utmost honesty through our soft skills strategies.
With direct data capture as explained in the afore para, we can use certain Forensic Accounting Tool to flag out data that are suspected to be inaccurate, claims inflated or such. Correct entries can be directly uploaded for payments in Bank Compliant CSV Files. Flagged out entries will be dealt with in the most Expedient manner. These data need not be re-keyed in manually but can be reconfigured to produce other needed reports.
So, what's next for you? Contact us so that we can arrange for a WSQ Corporate Course Run for your Company, it is highly funded by the Government, even to the extent where the Grants funding plus reimbursements may exceed the cost of the Training! The course can be staggered in such to give room to solve real-work problems. We can pack experts of various fields into our team of trainers and facilitators to suit your Company's specific needs. See our Corporate Course Run for various packages and options.
Case Study
Scenario 1
Sue Kam Accounting Tuition Pte. Ltd. (SKAT) is a fictitious company and the below scenario is entirely fictitious:
SKAT is a company incorporated 5 years ago, with the object of providing Accounting Tuition for GCE N, O, A Level, ACCA, SCAQ and SSG Accounting related courses. SKAT now have 5 branches in Singapore providing the aforesaid educational Tuition and Courses, has a total of 50 tutors and trainers, each being paid a remuneration based on their agreed hourly rates scale that varies with number of students. Some tutors are also trainers for certain SSG Courses, the hourly rates differs between subjects taught, and also differs between different SSG Course Runs. At times, some of them are not the main or sole trainer but either acts as assistant trainer or facilitator of specific roles. Sometimes, educators also perform non-teaching works on certain agreed fee or on certain basis, for example, UTAP application for SSG Courses, managing website, SSG Course applications, replying SSG's course's audit queries, even setting and managing classrooms logistics at branches. Rates or ball park figures are often agreed upon on ad-hoc basis with respective educator by the Founder Sue Kam, or when she is on leave, by an alternative administrator or manager through SKAT's Business WhatsApp. Overtime, as the operations of SKAT grows, payments to educators become increasingly difficult to manage. Sue Kam feels that these payments should best be managed by incorporating a trust-based culture, guarded by a safety net using a Forensic Accounting Tool.
Case Study 1
Without spending a fortune, lay down a workflow on the most cost-efficient, expedient way to manage the monthly payments to the 50 educators of SKAT. Include various templates, how-to narratives, cheat sheets and whatever quick fixes or hacks deployed.
Continuation of Scenario 1
Sue Kam and her team are exploring various ways to bring SKAT to greater heights without incurring heavy additional investments. One of it is to apply EduTrust for SKAT, so that the Company will attain PEI status so that SKAT can enroll foreign students for SKAT's ACCA and SCAQ Program. This is not a "mission impossible" as SKAT is already now an SSG's Registered Training Provider (RTP). It may be roughly the same or similar procedure/formula towards EduTrust and PEI.
Case Study 2
Lay down some important pointers as a brief or rough how-to guide towards EduTrust and PEI status.
During our Training, we will provide our Suggested Solutions for this scenario and other like case studies and scenarios. Our Trainers and Facilitators will also share their expertise.
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