Improving the detection and prevention of white-collar crime will be a major focus of a new joint initiative between The University of Queensland and private enterprise.
The UQ-KPMG Centre for Business Forensics, the nation’s first dedicated school of its kind, will be officially launched on November 7 at Customs House.
Centre for Business Forensics director Professor Colin Ferguson of the UQ School of Business said the Centre’s birth was timely.
“One of the functions of the Centre is to advance the quality of the investigative functions in the financial services and law enforcement sectors. The Centre will also undertake research into areas that will help develop skills critically needed for police, other law enforcement, forensic accountants and other professionals. It will be driven by the needs of these sectors,’’ Professor Ferguson said.
The Centre is a joint initiative with global business advisory firm KPMG, which is the largest business forensics practice in the Asia Pacific region.
Managing partner of KPMG Forensic for Asia-Pacific David van Homrigh said the Centre was a vital resource in the fight against white-collar crime.
“Pressure on government budgets has forced the private sector to take greater responsibility for fighting fraud, but we can only do this successfully by investing in the investigators of tomorrow. The UQ-KPMG Centre for Business Forensics will fulfill this critical need, and will be a leader in business forensics training in the Asia Pacific region,’’ Mr van Homrigh said.
“It will also be a centre of excellence for research and the development of new investigative methods. This is particularly important to keep pace with new trends in fraud, particularly those related to information technology and the Internet.’’
KPMG’s contribution to the Centre includes cash sponsorship and the time of senior professionals as directors/advisory committee members. KPMG has also committed to support training and development services offered by the Centre as part of an enhanced training program for its professional staff.
The Centre will promote excellence in research, education and training in business forensics, but also promote understanding and appreciation of the value of its work to the economy.
“This is a first for Queensland,’’ Professor Ferguson said. “And it is certainly cutting edge nationally, because while there are a small handful of other centres at universities, they are typically located within law schools or law enforcement/criminology centres. Ours is attached to the business school and our focus is different, more eclectic to focus on our strengths.’’
The Centre for Business Forensics will research and conduct executive education in areas such as corporate governance, valuation, and computer and intrusive forensics.
Research and information produced by the Centre will be available in other states through relationships The University of Queensland Business School has with selected business schools in other states.
Professor Ferguson said while the centre would immediately teach core skills, he hoped it would be the genesis for offering award skills as part of a post-graduate business degree.
The Centre will also conduct key research projects for industry and would encourage partnerships.
Professor Ferguson said law enforcement agencies and the financial services sector had expressed great interest in the centre, partly because it was very difficult to get staff experienced in business forensics.
Professor Ferguson said one of the early research projects undertaken by the Centre would be the development of a model of the relations between in-firm company fraud and corporate governance structures.
“We believe this model will aid detection and prevention of corporate fraud by identifying corporate governance structures and showing just how they play a role in reducing in-house fraud,’’ he said.
For further information contact Ann Keep, Executive Officer of UQ-KPMG Centre for Business Forensics, on (07) 3346 9245.
Media: Further information, Professor Colin Ferguson, telephone 07 3365 6631 or 0409 498 398 or David van Homrigh on 07 3233 3205.
