Enron, WorldCom Sparked Auditor’s Interest in Fraud

Major accounting frauds – and the new rules that followed -- set Patrick Brogan, CFE, CPA, CIA, down the path to becoming a Certified Fraud Examiner. Brogan is president of PBC Global, a firm that specializes in internal audit, compliance, accounting and reporting specialists.

ACFE Member Profile 

Major accounting frauds – and the new rules that followed -- set Patrick Brogan, CFE, CPA, CIA, down the path to becoming a Certified Fraud Examiner. Brogan is president of PBC Global, a firm that specializes in internal audit, compliance, accounting and reporting specialists. He has found that being a CFE and staying active through his ACFE chapter and other opportunities has helped him make the most of his career.

What first interested you about the ACFE and influenced you to earn the CFE credential? 

I started my career at Ernst & Young in external audit and fraud was always an underlying concern for each audit we completed.  Once WorldCom and Enron and subsequently Sarbanes-Oxley happened, I shifted my focus to working more with internal controls and compliance.  With fraud becoming increasingly urgent from an audit and controls standpoint, I thought it would be a good idea to expand my education related to fraud, gain an understanding of the ACFE and seek the CFE credential. 

What advantage(s) do you think being a CFE has provided in your career? 

With the increased attention related to fraud in the media and on the minds of company executives, it certainly gave me an opportunity to discuss what I had learned in the process of obtaining the CFE with them.  The CFE credential showed that I had the interest in fraud and was versed enough on the subject to obtain the CFE credential.  I think it has been very positive in opening up doors to discuss and spread what I have learned related to fraud.  

What are some ways you’ve been able to apply your CFE training to your job? 

The current focus of my career is internal control and compliance.  Having the CFE training and fraud related experience has given me the ability to increase the depth and breadth of my internal control audits to include the analysis of the risks and ramifications of fraud.  Knowing some of the red flags to look for has helped me follow up on suspicious and anomalous data.

In your opinion, why is anti-fraud education and awareness important for businesses and government agencies? 

Arming employees with what to look for related to fraudulent activity, how to react to it and the proper protocol for reporting the information is paramount.  Fraud education and awareness can also act as a strong deterrent as it alerts any potential perpetrator that the company and its employees will be on the lookout for suspicious activity.

Can you tell us a little about the services PBC Global provides? 

PBC Global is a professional services firm dedicated to delivering the highest quality execution and thought leadership in the areas of: internal audit, compliance, accounting/financial analysis and reporting and fraud risk management. We utilize the most tested and proven methodologies and resources available to meet and exceed our clients’ expectations.

What do you consider your greatest career achievement? 

I am extremely proud of starting a company, sustaining it and growing the client base organically through client referrals, colleague relationships and by exceeding client expectations.  It hasn’t always been easy, but I have learned quite a bit about myself and what it takes to be successful as in the consulting business.

What advice would you give to someone just starting their career as a CFE? 

I would advise anyone starting their career as a CFE to be a constant and relentless student.  One should read, attend seminars, and interact with colleagues and others in the field as much as he/she can.  There is a lot to learn on the subject of fraud and the more you know, the better you will be at preparing others (and yourself) to prevent and detect fraud.  Also get involved in your company fraud committees, local ACFE chapter and volunteer where you can.  The knowledge gained from even being the most junior person in these situations will benefit you greatly in your career.

What are the keys to getting the most out of your ACFE membership? 

The key to getting the most out of the ACFE membership is to get involved, understand what resources the ACFE is providing and stay active in pursuing and absorbing as much information as you can.  The website, publications and seminars provided by the ACFE (and the local chapters) is invaluable and can provide you with the knowledge to help you in your job and assist you in furthering your career in fraud.