Dates and location
Hours
Dates and location
Hours
Description
This case study examines Canada's largest gold heist, which occurred at Toronto Pearson International Airport on April 17, 2023, involving the theft of approximately 6,600 gold bars and foreign currency valued at over C$20 million. The course analyzes how a sophisticated fraud scheme exploited critical document verification failures, segregation of duties violations, and insider threats within Air Canada's cargo operations, focusing on the role of acting supervisor Simran Panesar who used his access to inventory systems and waybill printers to facilitate the theft. Through detailed examination of how thieves used a fraudulent waybill—created by altering a legitimate seafood shipping document—to steal $15 million US worth of assets in just 53 minutes, accounting professionals will learn to identify control weaknesses, recognize insider threat indicators, and apply fraud prevention strategies to protect high-value assets and prevent similar occupational fraud schemes in their organizations.
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Key Takeaways
Upon completing the course, participants will be able to:
- Identify document verification control weaknesses that enabled the Toronto airport gold heist and apply these lessons to prevent similar asset misappropriation schemes.
- Evaluate segregation of duties violations and assess how multiple system access points create fraud opportunities in high-value asset handling processes.
- Recognize insider threat indicators and analyze how employee access and knowledge can be exploited to facilitate occupational fraud.
Who Will Benefit
This course would be highly beneficial for professionals involved in financial oversight, risk management, and operational controls.
Disclaimer
The views expressed in the course are non-authoritative and have not been formally endorsed by CPA Ontario and do not reflect the views of CPA Ontario. The information included in the course if for general information purposes only.
CPA Ontario, the presenters and the authors do not accept any responsibility or liability that might occur directly or indirectly as a consequence of the use or application of or reliance on this material.
How to Access the Course
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To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Garth Sheriff (CPA, CA, CPA (Illinois), CIA, CGMA, MAcc is the founder of Sheriff Consulting. Garth has worked as an assurance professional and learning provider for over 20 years. Garth has also acted in various stage and film productions. He is a graduate in improvisation from The Second City and a member of ACTRA (the Alliance of Canadian Cinema, Television and Radio Artists).