Lim Huck Hai, CFE

Onetime runner and current golf enthusiast Lim Huck Hai, CFE, has considerable international executive management experience. He’s helped clients from both private and public sectors implement fraud prevention and regulatory measures and leads investigations guided by integrity and perseverance.

Interview by Anna Brahce

I grew up in Malaysia but completed my pre-university year at Huntingtower School and a bachelor’s degree in accounting and computer science at Monash University in Australia.

I used to compete as a state runner in the 800-meter and 1,500-meter events. Nowadays, I enjoy playing golf with friends and clients. I also enjoy traveling and have explored more than 20 countries.

I always aspired to be a chartered accountant with strong information technology (IT) skills. I envisioned a career where I could combine my passion for numbers and financial analysis with the power of technology, believing this blend of accounting expertise and IT proficiency would enable me to stay ahead in the ever-evolving financial landscape and contribute significantly to the success of the global firms I worked with.

I’m currently a managing partner at Baker Tilly. I recently led a global team to develop regulatory business plans and financial control frameworks for two Malaysian states, aiding their applications for digital banking licenses. I’ve actively participated in large-scale control monitoring, digital transformation, business performance improvement, and governance, risk and compliance projects. I also achieved the Fellow Chartered Accountant (FCA) designation at the Institute of Chartered Accountants in England and Wales.

I served on the executive management board of BDO Malaysia and the executive management board of KPMG Asia-Pacific Risk Advisory Services. I was a partner at KPMG from 2000 to 2007 and a partner at BDO from 2008 to 2014. I also provided outsourced internal audit services to a Hong Kong-based property development company listed in the U.K., covering Hong Kong, China, Singapore, Taiwan, Japan, Indonesia and Malaysia.

I manage various types of fraud investigations, including financial statement fraud, asset misappropriation, corruption and cyberfraud. Each type requires a tailored approach, and a different skill set to uncover and address it effectively.

My passion for fighting fraud began early in my career when I recognized the significant impact fraud can have on businesses and individuals. The challenge of uncovering hidden schemes and the satisfaction of bringing justice to those affected motivated me to pursue this path.

When fraud is detected, I gather and preserve evidence to ensure its integrity. I then conduct interviews with relevant parties to gather more information. I also perform detailed financial analyses and use forensic accounting techniques to trace fraudulent transactions. Finally, my team and I compile a comprehensive report detailing our findings and provide recommendations for corrective actions and controls to prevent future occurrences.

My passion for fighting fraud began early in my career when I recognized the significant impact fraud can have on businesses and individuals. The challenge of uncovering hidden schemes and the satisfaction of bringing justice to those affected motivated me to pursue this path.

Throughout my career, I’ve honed several investigative skills, including forensic accounting, data analysis, use of artificial intelligence (AI), interviewing techniques and report writing. These skills are crucial for identifying and proving fraudulent activities.

Some past cases I’ve worked on involved e-discovery and streamlining the costly and time-consuming process of electronic disclosure. My team performed thorough and efficient searches and located, consolidated and organized electronic evidence across various data management systems and corporate IT networks.

With fraud prevention and digital trust services, I assisted the Malaysian government in implementing the Digital Signature Act 1997 to enforce stronger fraud prevention and control mechanisms for authentication, integrity and confidential and non-repudiation requirements. I also assisted the Telco regulators in the development of cybersecurity regulatory standards and the Malaysian government in the launch of CyberSecurity Malaysia, as well as the development and implementation of National Cyber Security Policy in early 2000.

I completed the first WebTrust engagement in Malaysia for the largest financial service institution and have assisted regulatory bodies in Malaysia and the Association of Southeast Asian Nations (ASEAN) in WebTrust engagement and digital assurance programs. WebTrust is a digital assurance program by the American Institute of Certified Public Accountants (AICPA) and the Chartered Professional Accountants of Canada (CPA Canada) that involves a rigorous audit conducted by an accredited auditor to ensure compliance with best practice digital trust and security requirements.

Some of the top lessons I've learned in this field include the importance of attention to detail, the need for continuous learning and the value of collaboration with other professionals. Fraud schemes are constantly evolving, so staying updated on the latest techniques and trends is essential.

I first heard of the Association of Certified Fraud Examiners (ACFE) through a colleague who recommended their resources and training programs. Earning the Certified Fraud Examiner (CFE) credential was a natural step for me, as it provided formal recognition of my expertise and commitment to the field.

The CFE credential has greatly benefited my career by enhancing my credibility and opening new opportunities for professional growth. It also provided access to a network of like-minded professionals and valuable resources for staying current in the field.

For those starting out in the fraud-fighting field, my advice is to gain as much practical experience as possible, seek out mentors and continuously develop your skills. The field can be challenging, but it’s also incredibly rewarding.

My personal motto is, “Integrity and perseverance lead to success.” I believe upholding ethical standards and staying persistent in the face of challenges are key to achieving long-term success.

Outside of work, I find immense joy in golfing. It provides a perfect balance to the intensity of my professional life, allowing me to recharge, stay inspired, and return to work with renewed energy and creativity.

Anna Brahce is assistant editor of Fraud Magazine. Contact her at abrahce@ACFE.com.