Charles Olufemi Keshinro, a certified forensic accountant and professional fraud detector is Nigeria's Director, Certified International Fraud Examiners and Chief Finance Officer of Adphil Transport Company Limited. He was also recently installed as the 16th President of the Rotary Club of Gowon-Estate, District 9110, Nigeria. He speaks on his life and careerMR. Charles Keshinro is one of those who have carved a niche for themselves through their professional callings. A forensic accountant and fraud detector, Keshinro hails from Ilara community in Agbowa/Eredo Local Council, Epe, Lagos State, where his parents 'spoilt' him with love but ensured he was brought up in an environment of discipline and moral rectitude. His father Chief Ferdinand Olusanya Keshinro, a retired chartered accountant and secretary, and his mother, also a retired primary school head teacher, saw to that.'I was brought up in a very disciplined background, where most of the things you did were done with permission and supervision ' you were not allowed to misbehave otherwise, you would be dispassionately dealt with,' Keshinro recalls. 'I recall that during my childhood, my father used to lock me in his sitting room from 4pm till 7pm, a restriction meant to make me have time to go through my books and complete my school home work.'Keshinro had his primary education at Olodi/Apapa Local Government Primary School, his secondary education at St. Anthony Grammar School, Ogun State and Yaba College of Technology where he studied Accountancy and Finance.'However, the major attraction during my secondary school days was the peculiar nature of the school; it was a boarding school,' he said. 'As a young man, it was an opportunity for me to laze around and catch my breath. But then, it was the worst moment in my life, and if I have my way, I would not want any of my children to go through. The experience was too loose and risky for a young child like me. At the boarding school, it was like a land colonized by the military warlords (senior students) who adopt younger students as errand boys and willy-nilly, cause them to go on any message, including buying of cigarette, condom, dry gin, among others.'At the time, no student dared report the atrocities committed by senior students to the school authority. But the courageous Keshinro, tired and sick of the harassments, broke the jinx by reporting the perpetrators to the school authority.'Thereafter, an emergency assembly was called and the Principal asked me to point at the senior, which I did, oblivious of the troubles ahead. I became so frustrated as every senior thereafter turned me into a point of target. I was always attacked, beaten and rough-handled. My locker and boxes were burgled and my valuables carted away. These assaults became so frequent that I could not report any of the incidents to the school authority anymore. I became an outcast and that frustration made me seek refuge outside the school campus, at a friend's parents home.'Because of his experience, Keshinro resolved that none of his children would go through similar experience. But as fate would have it, his first daughter insisted on going to a boarding school. 'I had to give in to her desires. So, I paid for her boarding school fees for a year at Doregos Private Academy. But in three months, she was back home, saying she was not going back to the school. This was a private school proclaimed for descent children. She said she could not cope, having to live with all kinds of people with different diseases like asthma, malaria, and body odour, and the like. I was vindicated.'Keshinro did his NYSC at the Nigerian Agric and Corporative Bank (NACB) in Kabba, in the old Kwara State. Thereafter, he took up a job with Chief Jimi Agbaje's JK Pharmacy as an accountant.'In 2002, I joined Elizade Motors and was made the Deputy General Manager Finance. I worked in the company until 2006 when the banks' consolidation project came on,' he explained.Unfortunately, one of the company's accounts was liquidated alongside the failed bank, Fountain Trust Bank. In the aftermath, some people wrongly advised the chairman, Chief Ade Ojo that I swindled the money, which was to the tune of about N22million. Sincerely, Chief Ade Ojo is a good man whom I respect a lot. My success story is incomplete without him.'At a point when the pressure was too unbearable for me, I had to resign in February 2006 and thereafter, traveled to the United Kingdom with my family. But then, I promised the Chairman that his money was going to be refunded and around 2009, he got his money back with interest when the default bank merged with other banks. This made him (Chief Ade Ojo) invite me again to assist the General Manager that was coming to set up the Adphil Company Limited, Volvo Department of Elizade, an offer well received. The firm deals in sales of Volvo-branded construction equipments, trucks, spare parts and maintenance of after sales service. Prior to that time, I was briefly employed at Osmi Sports as the Director of Finance and Administration in 2006.'About Forensic AccountingForensic accounting is the application of a combination of accounting, auditing skills and information technologies in the resolution of a financial related dispute or crime. Often times, a forensic accountant is required in unraveling a dispute or crime that is accounting related, but not necessarily fraud-based.Relevance in a developing economy like oursAlthough forensic accounting is very popular overseas, it is yet to be embraced here, and the reason for this could be attributed to the lack of awareness or technical nature of the profession. Because of the principles of the profession, which is strictly based on adherence, especially in a fact-finding pursuit, the profession is bound to step on toes and identify chronic exploiters who take advantage of institutional loopholes to milk the system. So, the profession entails advanced auditing, plus the ability to unravel what happened, who did it, how it happened, why and when it happened, especially when it comes to white-collar financial crimes.Another profession close to this is that of a Certified Fraud Examination expert. Interestingly, I am also a trained fraud examiner and currently, the Director of the Nigerian chapter of the Association of Certified International Fraud Examiners, an anti fraud and financial corruption body established in the USA, with branches across the world. The objectives of the body include the establishment of platforms, systems and promotion of activities targeted at reducing fraud to the minimum. These cases include white-collar financial crisis, like money laundering, embezzlement and fraudulent transfer or siphoning, among others.Forensic accounting and the corruption in NigeriaA trained forensic accountant with fraud examination skill is able to dig deep into any fraud case or assist any of the fraud regulatory agencies like the Police, Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices Commission (ICPC) among others, in bringing his or her skills/professionalism to bear on analyzing and unraveling financial problems.When fraud happens in a corporate or individual-owned company'money has been declared missing'the next attitude, especially in our society, is bringing in policemen. But these are not trained fraud examiners or forensic accountants; they are not skilled to unravel such fraud, except such men have the requisite knowledge to do so.It takes only a trained forensic accountant or fraud examiner, whose job takes care of both criminal and civil aspects of financial irregularities, to carry out such assignment professionally. The difference between the two is that fraud examination takes care of fraud related cases, which could come in various forms. If it is not fraud, you don't need a fraud examiner.Therefore, at the end of a forensic accountant's job, you can authoritatively say that a case has been forensically and thoroughly analysed, giving detailed and factual statements, which could be used as evidence for or against at anywhere, including a court of law.The place of forensic accounting and fraud examination department in financial institutionsIt is important and proactive for our financial institutions to have forensic accounting department or a control department, headed by a forensic accountant or a certified fraud examiner. This is a department that exclusively focuses its strategic plans on how to militate against fraud or detect it whenever it happens. You don't wait until fraud has occurred before you start to look for the police or any of the law enforcement agents to unravel the fraud.
Click here to read full news..
