With over 13 years of experience in forensic accounting, fraud investigations of a range of matters including misconduct, bribery, and corruption, fraud prevention and training, and forensic due diligence, Milind provides practical and expert advice to clients across multiple industries as a Senior Manager of Fraud & Forensic Services within the Risk Advisory Services division at RSM.
Milind started his career as a forensic accountant providing expert accounting services in commercial and intellectual property disputes before working with a ‘Big 4’ where he spent time as a Manager in their Forensic and Risk Services division. Prior to joining RSM, Milind was a manager in a newly created integrity services division of a national practice at a mid-tier accounting firm where he was responsible for delivering high-quality solutions for clients. Milind is also a Chartered Accountant, Certified Fraud Examiner, and licensed investigator.
"I enjoy collaborating with my clients to find solutions that are practical, reasonable, and provide the best possible outcome for them. Whilst this is not always easy, the challenge motivates me!"
As a licensed investigator, Milind lawfully conducts investigations relating to bullying and harassment to fraud, and corruption. In addition, Milind draws on his accounting skills to quantify the loss in fraud matters or for the preparation of expert witness reports primarily around the issue of damages for use in disputes and litigation. He provides timely fraud and corruption control risk management advice to clients who have either been a victim of fraud or as part of their governance, risk, and compliance better practice.
When he is not working on fraud and forensic matters, Milind enjoys his passion for sports including tennis (he thinks he has a mean forehand!), and imparting his knowledge and wisdom to his kids.
SOLUTIONS MILIND SHETH PROVIDES
- Forensic accounting and forensic investigations
- Fraud, bribery & corruption (including any type of impropriety) control
- Planning, resourcing, implementation, and management
- Forensic or fraud-related training
- Forensic technology and forensic data analytics
- Compliance risk reviews
- Whistleblower services
- Forensic due diligence, business intelligence, and asset tracing
- Conducted an investigation under legal professional privilege for a legal firm for their client, a hardware manufacturer company, into potentially adverse conduct of certain senior management involved including alleged conflict of interest, misappropriation of assets and diversion of funds.
- Conducted a forensic financial audit for a Victorian State Government agency of a health service located in a regional area of Victoria in response to information received about allegations of misuse of corporate credit cards to purchase health service items for personal benefit.
- Conducted an investigation under legal professional privilege for a legal firm for their client in a family law dispute, which involved a review of self-managed superfund financial documents and identification of evidence to prove misappropriation of a number of assets.
- Performed a fraud and corruption framework review to assess the adequacy and effectiveness of the framework, processes and controls over fraud and corruption control planning and resourcing, prevention, detection and response for a large energy company.
- Conducted a forensic accounting investigation, which involved quantification of loss from alleged unauthorised pay raise and unauthorised use of corporate credit cards by employees at a safety equipment supplier.
- Investigated allegations of impropriety by an employee at a Victorian Council including identifying deliberate reduction or removal of fees to clients, removing statutory requirements and receiving financial or other benefits. The investigation was conducted through a computer forensic examination.
- Investigated alleged conflict of interest breaches and identified any related impropriety in relation to two employees for a Commonwealth government agency. The investigation resulted in one of the employees being terminated.
- Assessed the adequacy and effectiveness of the processes and controls over Fraud Management to better practices for a TAFE provider including the review of the fraud (and corruption control) framework and policies currently in place, assessing fraud control practices against best practice and communication and training programs to create staff awareness.
- Managed a team of accountants with investigating and quantifying systemic national underpayment of wages at an international chain of convenience stores.
- Investigated and quantified the financial impact to hundreds of businesses as a result of the then Commonwealth Government initiated Home Insulation Program.
- Investigated royalties collected from the minerals, extractive and petroleum sectors by a Victorian Government department identifying and quantifying undetected or unrecovered royalties payable by licensee holders.
- Identified incriminating evidence to substantiate allegations of procurement fraud and conflict of interest by local council employees through a forensic IT investigation approach.
- Investigated erroneous intercompany transactions including review of policies and procedures to observe compliance at the Australian subsidiary of a global cosmetic company.
- Investigated Medicare Locals as part of the Federal Government’s commission of audit.
- Investigated alleged fraud involving finance leases originating from various brokers for a large car leasing company.
- Investigated and quantified alleged employee fraud at a retailer including preparation of a report for litigation and recovery purposes.
- Provided forensic accounting assistance and expert evidence on behalf of clients (several individuals and companies) with offshore business interests subject to an ATO project Wickenby investigation.
Events and Presentations
- Institute of Internal Auditors (IIA) – Financial Services Assurance Forum 2022 in Sydney in-person on 24-25 November 2022, presentation on 24 November 2022 on ‘Financial crime and corruption control in the Financial Services sector – Alerts for internal auditors’
- 11th Annual Fraud Management Summit, 24-26 May 2022 panel discussion on “How prepared are you against sophisticated criminals” and facilitated a workshop on “Strengthening your anti-fraud resilience programs”
PROFESSIONAL ASSOCIATIONS AND LICENCES
- Member, Chartered Accountants Australia and New Zealand (CA ANZ)
- Certified Fraud Examiner (CFE), Global Association of Certified Fraud Examiners (ACFE)
- Vice President and Treasurer, ACFE Melbourne Chapter
- Licensed investigator
- Master of Applied Commerce - Accounting degree (Melbourne University)
- Bachelor of Science - Finance and Economics (Rutgers University in New Jersey, USA)
- Graduate Diploma of Chartered Accounting (CA)
- Certified Fraud Examiner (CFE)
- Certificate III in Investigative Services
- Diploma and Certificate IV in Government Fraud Control and Investigations