NALT Training for
Every Professional
Three specialist modules built on the forensic analysis of the CLICO collapse — the EC$51.96 million case that exposed how Non-Arm's Length Transactions destroy institutions, harm policyholders, and evade regulatory oversight. Each module is tailored to the specific responsibilities and risk exposure of your profession.
Why the CLICO Case Is the World's Best NALT Classroom
The Douglas Estate transaction is not a hypothetical. It is a documented, litigated, forensically analysed EC$31.1 million fraud that destroyed a regional insurance giant and harmed 30,000 policyholders across nine Eastern Caribbean jurisdictions. Every figure in these modules is real. Every red flag was missed by real professionals. That is precisely why it is the most powerful training tool available.
Real Financial Data
EC$31,145,266 DCF valuation, EC$26,930,661 wealth transfer, and a complete bank statement with structuring patterns — all from the actual CLICO case.
Real Governance Failures
Board minutes, regulatory correspondence, and court filings documenting how shadow directors, conflicted regulators, and absent oversight combined to enable the fraud.
Real Legal Consequences
An active EC$51.96 million claim with five independent legal grounds, nine anticipated defences, and twelve Commonwealth precedents — all available as training materials.
The Three Professional Modules
Each module is self-contained and can be delivered independently or as part of the combined multi-audience program.
Forensic Accounting for CPAs & CFEs
Detecting Non-Arm's Length Transactions Through Financial Statement Analysis
Program Overview
This module equips accounting professionals with the forensic tools to detect, quantify, and report Non-Arm's Length Transactions in financial statements. Using the CLICO Douglas Estate case as a live data laboratory — with EC$31,145,266 DCF value vs. EC$16,000,000 sale price — participants apply the Beneish M-Score, Altman Z-Score, DCF Audit methodology, and bank statement analytics to real transactional data. The module closes with forensic audit report standards required for litigation support.
Key Learning Outcomes
- Apply the Beneish M-Score to detect earnings manipulation in insurance company financials
- Conduct a DCF Audit to identify a 48.39% undervaluation in related-party property transactions
- Analyse bank statements for structuring patterns, round-number transactions, and offshore wire transfers
- Identify the three IFRS disclosure gaps that allowed CLICO's fraud to pass undetected
- Prepare a litigation-ready forensic audit report meeting ICAC and ACFE standards
CLICO Case Financial Reference Data
Governance & Fiduciary Duty for Board Directors
Preventing Non-Arm's Length Transactions Through Board-Level Oversight
Program Overview
This module translates the legal and forensic findings of the CLICO case into practical board governance tools. Directors learn how shadow directors exercise informal control outside the boardroom, how the four fiduciary duties apply to related-party transactions, and how to implement the five-component NALT Prevention Framework to protect their organisations from the EC$26.9 million wealth transfer that destroyed CLICO. Participants leave with a board-ready Related-Party Transaction Policy and a personal liability checklist.
Key Learning Outcomes
- Identify the behavioural signatures of shadow director control in board dynamics
- Apply the four fiduciary duties (good faith, acting within powers, avoiding conflicts, no third-party benefits) to related-party transaction approval
- Implement the five-component NALT Prevention Framework in your organisation's governance structure
- Understand personal liability exposure for approving undervalued related-party transactions
- Draft a Related-Party Transaction Policy that meets OECD Principles of Corporate Governance
CLICO Case Financial Reference Data
Regulatory Supervision & Accountability
Supervisory Early Warning Systems and the Legal Consequences of Regulatory Inaction
Program Overview
This module confronts regulators with the most uncomfortable question in Caribbean financial history: how did the Registrar of Insurance approve the sale of CLICO's most valuable assets to a Government-connected entity at a 48.39% discount — and what are the legal consequences of that decision? Participants learn to operate the Supervisory Early Warning System (SEWS) calibrated to CLICO's financial ratios, understand their personal liability under the misfeasance in public office tort, and implement the six-point legislative reform plan from a regulatory perspective.
Key Learning Outcomes
- Operate the Supervisory Early Warning System (SEWS) using financial ratio alert thresholds calibrated to CLICO data
- Understand personal liability exposure under the misfeasance in public office tort for regulatory inaction
- Apply the six-point legislative reform plan to your jurisdiction's Insurance Act
- Identify the three supervisory powers that were available but unused during the CLICO crisis
- Draft a Regulatory Action Plan for a financial institution showing NALT red flags
CLICO Case Financial Reference Data
Download Training Materials
Audience-Specific Training Modules
Complete Module B (CPAs), Module C (Board Directors), and Module D (Regulators) — 27 pages of forensic training content with updated financial data.
Combined Professional Bundle
Enrol your entire leadership team — CPAs, Board Directors, and Regulators — in all three modules at once. One registration, one invoice, maximum impact.
Forensic Accounting
Designed for CPAs & CFEs
Governance & Fiduciary Duty
Designed for Board Directors
Regulatory Supervision
Designed for Regulators