Milind Sheth

Senior Manager - Melbourne

With over 15 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

           Prevention

           Detection

           Response

     Forensic or fraud-related training

     Forensic technology and forensic data analytics

     Compliance risk reviews

     Whistleblower services

     Forensic due diligence, business intelligence, and asset tracing

     Risk Advisory Services in Melbourne

Significant projects

•   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 unauthorized pay raise and unauthorized 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

• ‘Best Practice Fraud Control and Forensic Accounting/Investigation: Client Case Studies from the Trenches’, RSM Australia webinar on 20 November 2024 – more information
• ‘Top 5 regulatory and fraud events of 2024 and their impact for 2025’, RSM Global Forensics webinar on 20 November 2024 – more information
• Panel discussion on ‘Emerging Fraud Trends in 2024’ hosted by the Forensic Accounting Specialists (VIC) group at the Chartered Accountants Australia and New Zealand (CAANZ) in Melbourne on 14 November 2024
• ‘Probity and Fraud in Procurement’ presentation to the Southern Metro Procurement Group on 25 October 2024
• ‘Artificial Intelligence in Fraud investigations’ presentation to Swinburne University of Technology Forensic Accounting students on 19 September 2024
• ACFE Fraud Conference Asia Pacific, ‘Discover the Different Types of Fraudsters' presentation on 12 September 2024 
• 'Forensic Accounting 101 for non-accountants’– In-person presentation to Macpherson Kelley Lawyers on 8 August 2024
• ‘Fraud & Forensic Services’– In-person presentation to Beta Alpha Psi University Of Melbourne Chapter students on 7 May 2024
•  ‘Employee misconduct – maximise the benefits of conducting forensic / investigative due diligence – Join presentation with Dentons on 28 February 2024 – more information
•  ‘Fraud and Corruption Control: Hindsight, Insight, and Foresight’, RSM national live webinar on 16 November 2023 – more information
•   ‘Fraud & Forensic Services’– In-person presentation to Swinburne University of Technology Forensic Accounting students on 5 October 2023
•   ACFE Fraud Conference Asia Pacific, Singapore, 20-22 September 2023 - 'Conducting cross-border investigations' presentation (in person) 21-22 September 2023 - view more information here
•   ‘Employee misconduct – Maximise the benefits of a legal and forensic response’ – Joint presentation with Dentons on 27 April 2023
•   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”
•   ‘Forensic Due Diligence’ – Presentation to CPA Australia Victoria Forensics & Financial Investigations Discussion Group (FFIDG) on 26 February 2020

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

QUALIFICATIONS

•   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