We are excited to announce the return of the MFAcc Alumni Academy!
The Alumni Academy has been created to support MFAcc & DIFA graduates by providing valuable educational insights and opportunities for professional developments through a variety of learning activities: The Alumni Online Lecture Series, Conferences, CPD Workshops and Seminars, News, Alumni Communications & Alumni Awards. Most lectures and networking events are free to DIFA & MFAcc Alumni unless otherwise posted. Most will result in a CPD credit.
"The University of Toronto Forensic Accounting Program provides several benefits for the students ... access to leading professional experts and the study of the latest trends in forensic accounting. The program is also a great opportunity for networking and for building support in the industry. All these attributes have contributed and continue to contribute to the development of my career in forensic accounting." S. Zaretto, CPA, CPA•EJC, CPA•IFA, MBA |
Online Lecture Series
For a list of previous and upcoming events, please check the listing below.
If you have any questions please contact us at mfacc@utoronto.ca
Check your calendar and be sure to save the dates!
2025: AI in Forensic Accounting
Thursday, January 9th @ 4:00 PM, via ZOOM
Guest Speakers Jack Martin and Chris Walker presented an in-depth exploration of how Artificial Intelligence is transforming forensic accounting. The topics discussed included:
- Definitions of Data Science and Generative AI
- The Impact for the Forensic Accounting
- Creation and Summarization of Content
- Generating Code
- Practical Examples in CoPilot and Relativity
Risks, Benefits, and Opportunities
We’re excited to share access to this exclusive online lecture series with our MFAcc & DIFA community. Please email mfacc@utoronto.ca for the password. To access the video, please click the button below.
Artificial Intelligence in Forensic Accounting Recording
MFAcc Alumni Academy: Online Lecture Series
The Unsolved Opportunities for Cybersecurity Providers
Wednesday, February 23rd @ 3:00 PM via Zoom
The COVID-19 pandemic forced rapid changes to corporate cybersecurity functions. Chief Information Security Officers (CISOs) had to adjust their strategies to accommodate remote work, shifting focus from routine tasks to long-term goals aimed at establishing secure connections from remote locations. Managing business continuity became the primary objective, involving tasks such as patching remote systems over virtual private networks, handling increased workloads on those systems, and monitoring rising cyberthreats and cyberattacks targeting at-home workers with a variety of threats. Bharath, Jeffrey, and Marc discovered a nearly seven-fold increase in spear-phishing attacks since the pandemic began. They presented the findings of their research during this seminar.
This 1 (hour) seminar consisted of a 45 minute moderated panel followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
The State of Financial Crime in Canada: Banking and law Enforcement Perspectives
Thursday, November 17th @ 3:00 PM via Zoom
The state of financial crime in Canada remains a dynamic and evolving challenge, as both banking institutions and law enforcement continue to grapple with its complex and growing nature. The rise of forensic financial crime experts has become increasingly prominent, as specialized knowledge is needed to navigate the intricate landscape of fraud, cybercrime, and money laundering. The financial crime ecosystem is expanding, with new methods like credit bust-outs and evolving tactics to bypass Know Your Customer (KYC) regulations adding layers of complexity. Discussions have focused on the ongoing difficulties of information sharing between public and private sector entities, which often hinders collaborative efforts to combat these crimes effectively. Furthermore, the requirements set forth by the Proceeds of Crime (Money Laundering) and Terrorist Financing (PCMLTF) Act continue to shape the regulatory landscape, placing increasing pressure on reporting entities to meet compliance demands. This seminar offered valuable insights into these pressing issues, bringing together key perspectives from banking and law enforcement to explore the current state of financial crime and the strategies needed to tackle it.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
MFAcc Alumni Academy: Online Lecture Series
Human Trafficking: Financial Crime, Money Laundering, & Business Risks
Tuesday, February 25th @ 7:00 PM via Zoom
Human trafficking, a pervasive global issue, often intertwines with financial crime, money laundering, and business risks in complex and alarming ways. In this seminar, experts explored how illicit trafficking operations funnel vast sums of money through seemingly legitimate businesses, disguising their true origins and activities. The discussion covered the methods traffickers use to launder profits, the increasing scrutiny businesses face from regulators, and the critical need for companies to adopt robust compliance measures. Participants gained insight into the broader financial and reputational risks associated with unknowingly becoming entangled in trafficking-related activities, underscoring the importance of vigilance and proactive risk management in today’s interconnected world.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
MFAcc Alumni Academy: Online Lecture Series
Monitoring For Risk: Suspicious Transactions in Firm Bank Accounts
Tuesday, February 25th @ 7:00 PM via Zoom
This seminar explored how to identify and address money laundering risks in law firm banking practices. The discussion debunked common myths and focused on the differences between trust and general accounts, each presenting unique vulnerabilities. Real-life case studies illustrated how suspicious transactions can go undetected, leading to significant legal and reputational harm. The seminar also covered key strategies for identifying and addressing these risks, from spotting red flags to implementing robust internal controls. Attendees also gained insights into law society AML requirements and practical steps to ensure compliance, equipping law firms with the tools to protect against financial crime.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
Indemnification Clauses and the Independence of an Expert Witness: Any Cause for Concern?
Tuesday, March 19th @ 1:00 PM via Zoom
Indemnification clauses and their potential impact on the independence of expert witnesses have been a topic of growing concern within Canadian legal circles. This issue was notably highlighted in the Supreme Court case White Burgess Langille Inman v. Abbott and Haliburton Co., where the Court considered whether indemnification agreements could affect the impartiality of expert witnesses. The case illuminated the tension between the expert’s duty to provide unbiased testimony and the financial incentives created by indemnification clauses, which may be perceived as influencing an expert’s objectivity. In recent Canadian case law, courts have grappled with balancing the need for expert testimony with the integrity of that testimony, evaluating whether such clauses compromise independence. Legal arguments in favor of indemnification highlight the necessity of ensuring that experts are adequately protected against the financial consequences of litigation, while critics warn that such clauses could undermine the credibility of expert evidence.
This seminar offered an insightful discussion on the implications of indemnification clauses on expert independence, exploring both sides of the debate and providing a comprehensive overview of the current legal landscape.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
Data Analytics: Using AI and Machine Learning to Enhance Audit Efficiency and Assurance
Monday, April 20th @ 7:00 PM via Zoom
This seminar explored how cutting-edge technologies such as AI and Machine Learning are transforming the audit landscape. The discussion highlighted the ways AI and machine learning streamline data analysis, improve accuracy, and increase the efficiency of audits by automating routine tasks, detecting anomalies, and providing deeper insights into complex data sets. Participants learned how these innovations enable auditors to focus on higher-level judgment and risk assessment, ultimately enhancing the reliability and timeliness of audit processes. Real-world examples and case studies demonstrated the tangible benefits of incorporating advanced analytics into auditing, and the technologies used to do so, offering a glimpse into the future of assurance practices.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
COVID-19 Frauds: Help Protect Your Client
Thursday, May 28th @ 7:00 PM via Zoom
During the COVID-19 pandemic, fraud proliferated in various forms, targeting both businesses and individuals. From counterfeit medical supplies to phishing schemes, scammers exploited the uncertainty and fear surrounding the virus. In our seminar, we discussed strategies to protect both clients and personal assets, emphasizing the importance of cybersecurity practices such as enabling two-factor authentication and recognizing phishing attempts. We also explored real-world case studies like the infamous Theranos scandal, where fraudulent claims were made about the efficacy of medical technology during a time of crisis. Attendees gained insights into how to safeguard themselves and their clients from digital and financial frauds that became rampant during the pandemic. Through proactive steps and vigilance, individuals and organizations can mitigate these risks and emerge stronger in the face of ongoing challenges.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
Make Sure Your Cyber Assets Don't Become Liabilities
Wednesday, June 24th @ 7:00 PM via Zoom
In this seminar on cybersecurity, we explored the growing risks of cyber terrorism and hacking, emphasizing the importance of protecting your digital assets. As technology continues to advance, businesses and individuals alike are becoming more vulnerable to cyber threats that could turn valuable assets into significant liabilities. Attendees learned how simple oversights could lead to devastating breaches, and discussed proactive strategies to safeguard sensitive information. The session provided practical advice on strengthening defenses, understanding the evolving landscape of cyber threats, and ensuring that cyber assets contribute to, rather than undermine, overall security and success.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
Use of Insolvency Law in Fraud Investigations & Recovery
Wednesday, November 11th @ 3:00 PM via Zoom
In this seminar we explored how the Bankruptcy and Insolvency Act (BIA) plays a crucial role in uncovering and addressing fraudulent activities. The discussion highlighted the extraordinary investigative powers and recovery remedies granted under the BIA, all of which significantly enhance fraud investigations. Participants learned about the recovery mechanisms within the BIA, which allow for the identification and retrieval of assets hidden through fraudulent means. Key topics also covered bankruptcy offenses, and how trustees collaborate with fraud investigators to navigate complex cases, ensure compliance, and maximize recovery. This session offered a comprehensive understanding of how insolvency law can serve as a powerful tool in tackling fraud and safeguarding the interests of creditors and stakeholders.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
Forensic Accountants in Developing Countries
Wednesday, December 9th @ 10:00 AM via Zoom
Forensic accountants in developing countries face a unique set of challenges that hinder their ability to effectively combat financial crimes. These professionals often work in environments marked by corruption in government, extreme poverty, and an overwhelming lack of resources. In many cases, the fear for personal safety can deter whistleblowers and professionals alike from pursuing investigations into financial misconduct. The impact of fraud and corruption is especially devastating in emerging nations, exacerbating inequality and stalling economic progress. Despite these obstacles, the role of forensic accountants remains crucial in shedding light on illicit activities and promoting accountability. This discussion delves into the complexities of forensic accounting in these regions, exploring the future of fraud prevention and the evolving landscape for emerging nations grappling with these pervasive issues.
This 1 (hour) seminar consisted of a 45 minute moderated panel followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
MFAcc Alumni Academy: Online Lecture Series
Anti-Money Laundering in Cryptocurrency
Thursday, October 24th @ 7:00 PM via Zoom
As cryptocurrency continues to reshape the financial landscape, it's crucial to address the risks it brings. How do we ensure the security and integrity of this innovative space? That’s where Anti-Money Laundering (AML) practices come in. With evolving global regulations, AML has become a cornerstone for a safer and more transparent crypto market. Understand how these efforts are helping protect users, businesses, and the future of digital finance.
This seminar explored critical AML strategies like Know Your Customer (KYC), transaction monitoring, blockchain analytics and tools essential for preventing fraud, money laundering, and other illicit activities in the crypto world.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
Understanding FINTRAC's New STR Guidance and How They're Going to Examine Against It
Thursday, May 14th @ 7:00 PM via Zoom
FINTRAC has updated its guidance for suspicious transaction detection and reporting, with a new tribology of guidelines, close on the heels of the new terrorist financing threat assessment.
This seminar explored FINTRAC's latest updates on Suspicious Transaction Reports (STRs) and how to use this guidance for examination and enforcement. Participants gained a clear understanding of the enhanced requirements for reporting, identifying red flags, and maintaining compliance in the face of evolving financial crime risks. Key discussions included practical strategies for businesses to align with the updated guidelines, how FINTRAC will monitor and assess STR submissions, and the potential implications for organizations under scrutiny. This session provided valuable insights into strategies for combating money laundering and terrorist financing.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
Psychological Aspects of White-Collar Crime
Thursday, October 24th @ 7:00 PM via Zoom
The relationship between changes in organizational contexts and the emergence of new opportunities for fraud.
This seminar explored how shifts in organizational contexts, like restructuring and leadership changes, can create new opportunities for white-collar crime. We examined the psychological factors—such as motivation, rationalization, and opportunity—that drive individuals to exploit these openings. Additionally, we discussed the role of personality traits, particularly those seen in fraudsters, including narcissism and presidential psychopathy, which can fuel unethical behavior. Through real-world examples, the seminar highlighted how organizational dynamics and personality traits intersect to foster environments conducive to fraud.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credit.
MFAcc Alumni Academy: Online Lecture Series
An Evidence-Based Approach ("EBA") to Expert Witnesses in Canada
Conceptualization to Effective Practical Implementation
Friday, May 18th @ 1:00 PM (EST) via Zoom
The doctrine of an Evidence-Based Approach (EBA) to expert witnesses represented a relatively recent development within Canadian law. Although the evolution of EBA has been gradual, it is indisputable that it has matured into a distinct legal principle in Canada. This session explored the origins and significance of EBA, offering valuable insights into its impact on the courts, legal counsel, and expert witnesses. Additionally, the discussion addressed how IFA practitioners could strategically position themselves in response to the growing influence of EBA.
This 1 (hour) presentation consisted of a 45 minute lecture followed by a 15 minute Q&A session. This presentation qualified for CPD/CPE credits.
MFAcc Alumni Academy: Online Lecture Series
Lessons from the Cyber Front Lines
How to Prepare for and Survive and Aggressive Cross-Examination
Friday, November 16th @ 4:00 PM (ET) via Zoom
Cyber-attacks are taking a serious toll on business. Learn how, what, when, where and who are the masterminds behind the attacks. Are you prepared - if not, learn what you need to be doing.
This (1) hour presentation addressed current cyber security risks and trends; two recent data breach scenarios and the key steps companies are failing to take. This presentation qualified for CPD/CPE credit.
Tips & Traps for Expert Witnesses
How to Prepare for and Survive and Aggressive Cross-Examination
Friday, May 26th @ 1:00 PM (EST) via Zoom
This (1) hour presentation examined a range of tactics employed by opposing counsel to undermine the qualification, credibility, and evidentiary weight of a witness's testimony—both oral and written—following their designation as an Expert Witness. Attendees were encouraged to adopt a strategic, "risk-based" approach in managing their engagements and preparing for cross-examination.
The presentation covered a wide variety of topics, including adherence to professional and ethical standards, as well as the importance of effective oral and written communication skills for expert witnesses.
MFAcc Alumni Academy: Online Lecture Series
Independence and the Expert Witness
SCC Decision: White Burgess Langille Inman (WBLI)
Wednesday, May 18th @ 4:00 PM (EST) via Zoom
Expert witnesses who are not independent can nonetheless provide independent testimony - so ruled the Supreme Court of Canada a year ago this month. What has this decision meant to the IFA? Jack Blackier, discussed the effect and what this will mean to you.
It has been 12 months since the Supreme Court of Canada issued its ruling in WBLI re: expert witness independence. The WBLI decision has been cited 85 times by lower courts since April 30, 2015! It has been citred approximately 35 times in the last 45 days. These stats demonstrate that judges and lawyers across the country have become much more aware of the legal standards, including independence, as they apply to expert witnesses.
MFAcc Alumni Academy: Online Lecture Series
Expert Reports: Nature & Extent of Interactions with Legal Counsel
Moore v. Getahun 2015 ONCA 55 (Canlii)
Tuesday, May 12th @ 11:30 PM (EST) via Zoom
The Court of Appeal decision in Moore v. Getahun 2015 ONCA 55 (Canlii) was anxiously awaited by many experts and legal counsel across Canada, given that the Trial Judge on the case ruled that interactions between expert and legal counsel with a view to the latter "reviewing and shaping" expert reports and opinions are precluded pursuant to Rule 53.03 of the Ontario Rules of Court.
The Court of Appeal decision will have particular importance to all experts in Ontario, particularly those who testify in Ontario Courts. However, the underlying discussion and review of judicial authorities will have relevance to and will be of interest to all experts and legal counsel wherever situated across Canada.
Leave to appeal to the Supreme Court of Canada from the Ontario Court of Appeal has recently been field.
This 1.5 (hour) presentation consisted of a lecture followed by a 15 minute Q&A session.