University | National University of Singapore (NUS) |
Subject | Auditing |
Henn Tan, the founder of the company that invented the thumb drive, was on Tuesday sentenced to one year and four months in jail for committing accounting fraud.
The 66-year-old former chief executive of mainboard-listed Trek 2000 International had pleaded guilty in August to five charges of engaging in conspiracies to falsify accounts, forge documents and cheat external auditors.
Another four similar charges were taken into consideration for his sentencing.
The court heard that Tan, who is Singaporean, had conspired between 2006 and 2011 with the chief financial officer Gurcharan Singh to falsify Trek 2000’s financial statements pertaining to licensing income.
Hire a Professional Essay & Assignment Writer for completing your Academic Assessments
Native Singapore Writers Team
- 100% Plagiarism-Free Essay
- Highest Satisfaction Rate
- Free Revision
- On-Time Delivery
Their crimes were kept under wraps for years until Trek’s 2000’s auditors Ernst & Young (EY) discovered that Tan and his co-accused had cooked the books for the financial year 2015.
Tan had realized at the time that the company’s performance for the financial year 2015 would be dismal and conspired with a few senior officers to inflate revenue and pre-tax operating profit by plucking a US$3.2 million sale from thin air – accompanied with false supporting documents.
When confronted about the transaction, Tan and his co-accused tried to deceive EY that the sale was genuine, and the financial statements had been drawn up properly.
EY, however, discovered that the bank documents it had received were forged and began to conduct further audit procedures, including forensic imaging of the laptops and computers of Singh, then president of regional sales Foo Kok Wah, and former executive director Poo Teng Pin.
Stuck with a lot of homework assignments and feeling stressed ? Take professional academic assistance & Get 100% Plagiarism free papers
If you're a student at SUSS, you know how demanding and challenging it can be to complete your assignments on time. But don't worry, Singaporeassignmenthelp.com is here to provide you with the best SUSS assignment help available. Our team of experienced writers is dedicated to delivering high-quality, custom-written assignments that are tailored to your specific needs. So if you're feeling overwhelmed and struggling with your SUSS assignments, don't hesitate to get in touch with our Singaporean assignment writers. Contact us today and let us help you take your academic performance to the next level!
Looking for Plagiarism free Answers for your college/ university Assignments.
- ECE210 Advocacy and Collaborations with Families Assignment: Supporting Young Children Through Grief and Family-Centered Partnerships
- ACC707 Accounting and Finance Assignment: Evaluating Investment Decisions, Budgeting Strategies, and Financial Performance Analysis
- NCO201 Learn to Learn, Learn for Life TMA-01: Developing Self-Directed Learning Through the Journey of Mastering Public Speaking
- PSS219 Public Safety and Security in Singapore Group-Based Assignment: Strengthening National Resilience Through Policy Responses from the 2025 Committee of Supply Debate
- MTH240 Engineering Mathematics I Assignment: Heat Transfer, Chemical Balancing, Circuit Analysis, Signal Processing, and Matrix Theory
- Engaging Youth with IBM Skills Build Assignment: Designing Innovative Strategies for Skill Development and Career Growth
- BUS368 Innovation Management and Digital Transformation Assignment: Managing Innovation in Foldable, Trifold, and Stretchable Display Technologies
- BUS366 Assignment: Process Improvement and Recruitment Optimization Using Lean Six Sigma Methodology
- HBC203 Statistics and Data Analysis for the Social and Behavioural Sciences TMA-01: A Comparative Analysis of Workplace Wellbeing Interventions and Their Impact on Employee Productivity
- BCAF003 Business Accounting Assignment: A Comprehensive Study on Bank Reconciliation, Cash Controls, Inventory Valuation, and Financial Analysis