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kfrostCompany director, FCA, consultant, expert on DPRK (aka North Korea), and writer |
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United Kingdom, Brighton www.askvisory.com/kfrost |
Why you should speak with me:
Ken Frost MA FCA FIPFM 25+ years international experience of finance/business, company director and expert on North Korea
Summary:
I am a director of Phoenix Commercial Ventures Ltd (www.pcvltd.com) a venture capital company in the DPRK (Democratic People's Republic of Korea aka North Korea), and Hana Electronics (DPRK). I was a director of Daedong Credit Bank (a JV retail bank in DPRK),
I own www.kenfrost.com, am a Scholar on Gerson Lehrman Group Councils and Advisor for Guidepoint Global.
I am available to act as an NED/consultant, and happy to discuss business proposals/opportunities.
Skill sets/experience include:
20 years + international experience (Europe, USA, Asia Pacific and Africa) within Phoenix Commercial Ventures, De Beers, Philips and KPMG.
Management and leadership skills.
In depth experience of working on Audit Committees; including setting up country ACs when working in Philips and De Beers.
Performing and managing professional independent reviews that identify risks/control gaps.
In depth experience of working with a variety of IT packages from pre to post implementation stages including; SAP, Triton, MFG Pro, Scala and Sage.
Constant exposure (monitoring, mentoring and advising) to organisational change eg; corporate governance, restructuring etc.
High level interpersonal skills, coupled with the ability to interact with people at all functional levels from a variety of cultural backgrounds.
Experience, and detailed knowledge, of best practice with respect to corporate codes of conduct via:
- Membership of the Philips General Business Principles Committee
- Developing the Philips General Business Principles casebook
- Custodianship and maintenance of the Philips General Business Principles Database
- Aiding/advising on the development of the De Beers Code of Conduct.
Forensic experience arising from:
- Personal involvement in fraud investigations in De Beers and Philips
- Establishing/developing the role of the Philips Forensic Audit Co-ordinator
- Custodianship/maintenance of the Philips Fraud Database.
I own www.kenfrost.com, am a Scholar on Gerson Lehrman Group Councils and Advisor for Guidepoint Global.
I am available to act as an NED/consultant, and happy to discuss business proposals/opportunities.
Skill sets/experience include:
20 years + international experience (Europe, USA, Asia Pacific and Africa) within Phoenix Commercial Ventures, De Beers, Philips and KPMG.
Management and leadership skills.
In depth experience of working on Audit Committees; including setting up country ACs when working in Philips and De Beers.
Performing and managing professional independent reviews that identify risks/control gaps.
In depth experience of working with a variety of IT packages from pre to post implementation stages including; SAP, Triton, MFG Pro, Scala and Sage.
Constant exposure (monitoring, mentoring and advising) to organisational change eg; corporate governance, restructuring etc.
High level interpersonal skills, coupled with the ability to interact with people at all functional levels from a variety of cultural backgrounds.
Experience, and detailed knowledge, of best practice with respect to corporate codes of conduct via:
- Membership of the Philips General Business Principles Committee
- Developing the Philips General Business Principles casebook
- Custodianship and maintenance of the Philips General Business Principles Database
- Aiding/advising on the development of the De Beers Code of Conduct.
Forensic experience arising from:
- Personal involvement in fraud investigations in De Beers and Philips
- Establishing/developing the role of the Philips Forensic Audit Co-ordinator
- Custodianship/maintenance of the Philips Fraud Database.
Career History
- Enterprise:
- Guidepoint Global
- Position:
- Advisor
- Summary:
- Guidepoint Global is a global consulting and research firm that delivers superior, customised expertise and research tools to professionals in finance, professional services and industry. Clients include some of the world’s leading private equity firms, mutual funds, hedge funds and strategy consultancies.
- Year:
- Oct 2009 – Present
- Enterprise:
- Ergo Advisors
- Position:
- Expert
- Summary:
- Ergo is a global primary research and consulting firm delivering unique insights to help their clients make informed decisions. They have built a network of in-country teams and local experts, all deeply "embedded" in their sectors in over one hundred countries across the globe. Their analysts extract information from their frontline experts and apply custom research frameworks and synthesis techniques to craft their insights into a detailed mosaic.
Ergo has built relationships with leading specialists in dozens of sectors and industries in over one hundred countries across six continents. - Year:
- Apr 2008 – Present
- Enterprise:
- Gerson Lehrman Group Councils
- Position:
- Scholar
- Summary:
- The Gerson Lehrman Group Councils are global networks of executives, physicians, scientists, engineers, attorneys, and other professionals who deliver expertise and decision-making assistance to business, government and investment leaders from around the world.
I write articles covering business issues for Gerson Lehrman News. The news articles can be accessed via this link http://www.glgroup.com/Council-Member-News/GLG-Expert-Contributor-169226-News-1.html?opattr=undefined - Year:
- Apr 2006 – Present
- Enterprise:
- Hana Electronics JVC
- Position:
- Director
- Summary:
- I am a director of Hana Electronics, which is based in Pyongyang DPRK.
Hana manufactures and sells DVD players, VCD players and DVD's/VCD's in the DPRK. - Year:
- May 2005 – Present
- Enterprise:
- Phoenix Commercial Ventures Ltd
- Position:
- Director
- Summary:
- I am a director of Phoenix Commercial Ventures Ltd a company that marries investors with investment opportunities in the DPRK; in order to take advantage of the economic reforms which are taking place there, which have made foreign investment easier.
Website www.pcvltd.com - Year:
- Oct 2004 – Present
- Enterprise:
- KenFrost.com "The Living Brand"
- Position:
- Owner
- Summary:
- I designed, built and am running a suite of websites under the www.kenfrost.com 'The Living Brand' label; and have written a 100,000 word book entitled 'Accountants Can Cook'.
www.kenfrost.com 'The Living Brand' is a living interactive website which, in conjunction with forthcoming books, aims to stimulate the intellectual and gastric juices; as well as to entertain. - Year:
- Sep 2001 – Present
- Enterprise:
- Daedong Credit Bank
- Position:
- Director
- Summary:
- Board member of Daedong Credit Bank, a joint venture retail bank based in Pyongyang DPRK (aka North Korea).
- Year:
- Oct 2009 – Aug 2011
- Enterprise:
- Sinji JVC
- Position:
- Director
- Summary:
- I was a director of Sinji JVC.
Sinji was a 50/50 joint venture between Phoenix Commercial Ventures Ltd and the Korea Committee for the Promotion of External Economic Cooperation (CPEEC).
Phoenix sold its share to a third party in 2010.
Sinji’s main areas of operations are:
- Retail (consumer electronics, household necessities etc)
- Software
- Artificial flower manufacturing for export - Year:
- Apr 2008 – Nov 2010
- Enterprise:
- De Beers
- Position:
- Head of Internal Audit
- Summary:
- I was charged with setting up an audit department within De Beers to cover the non mining operations. Geographically this included, but was not limited to: the UK, Switzerland, Russia, Portugal, Belgium, India and Canada.
My initial task was to understand and risk map the company structure; taking account of:
-Activities
-Size of operations
-Risks
-Locations
The risk map enabled me to formulate an initial audit coverage plan and budget which were submitted to, and approved by, the Audit Committee.
In line with the plan, I performed business/process risk reviews and published the reports accordingly.
I provided regular guidance/advice to other professional departments as to best practice in areas such as:
-Frauds (examples, reporting and contacts with third party specialists)
-Best practice procedures, eg the maintenance/updating of masterfile data, electronic funds transfers
-Corporate ethics and examples of codes of conduct
-Internet policy - Year:
- Oct 2000 – Aug 2001
- Enterprise:
- Philips Electronics
- Position:
- Forensic Audit Co-ordinator
- Summary:
- This was a new position within Philips. My primary responsibilities included:
-Creating and managing a world-wide network of specially trained forensic auditors (25) to cover Philips 122 countries of operation.
-Designing a lotus notes database that identified units' risk exposure to fraudulent activity.
-The regular update of a secure fraud database with details of ongoing forensic investigations.
-Preparation of a quarterly written report, for submission to the Audit Committee of the Supervisory Board, as to the status of current forensic investigations.
-Performance of ad hoc forensic reviews.
-Membership of the General Business Principles Committee of Philips.
I was personally involved in the development of the Code of Conduct Casebook, which was distributed to 2000 senior managers world-wide. - Year:
- Jun 1999 – Sep 2000
- Enterprise:
- Philips Electronics
- Position:
- Head of Internal Audit Nordic
- Summary:
- My initial task was to set up an internal audit department in Stockholm, to cover activities in Sweden, Denmark, Norway, Finland and the Baltic States.
My role required me to keep abreast of professional changes within Corporate Audit, and the outside world. These were then incorporated into our departmental procedures; to ensure that our way of working was world class eg:
-The use of the Business Risk Assessment tool.
-The creation and use of audit programmes.
-The writing of timely, professional reports which identified risks and specified recommendations for management implementation.
-Installing and updating the world-wide lotus notes audit database.
-Personnel training issues, both on the job and in structured off site courses.
I was also responsible for; the annual departmental budget, planning and execution of audits, creating and attending the country audit committees and liaising with our external auditors. - Year:
- Apr 1996 – Aug 2000
- Enterprise:
- Philips Electronics
- Position:
- Audit Manager
- Summary:
- During this period I was responsible for auditing the business controls and risk management procedures of specific manufacturing and commercial divisions within the UK/Ireland and other areas of the world including Germany, Holland, the US and Korea.
- Year:
- Apr 1989 – Apr 1996
- Enterprise:
- KPMG
- Position:
- Auditor
- Summary:
- I qualified with the ICAEW in 1988. My audit experience within KPMG London included the brewing industry, electronics, travel, publishing, construction and the retail sector.
- Year:
- Sep 1984 – Apr 1989
Education & Qualifications
- University:
- Institute of Chartered Accountants in England and Wales
- Degree:
- FCA
- Year:
- 1988
- University:
- Edinburgh University
- Degree:
- MA
- Year:
- 1984
Other Qualifications & Awards
Fellow of the Institute of Professional Financial managers (FIPFM), honorary award for services to the accounting profession
Languages Spoken
Industry Focus:
Banking
Electronics
Electronics
Business Areas:
Any Business Area
Key Skills:
Economics & Accounting MA
FCA member of ICAEW
Expert on, unrivalled connections to, Democratic People's Republic of Korea (DPRK aka North Korea).
Fraud investigation, ethics, corporate governance audit reviews and setting up audit committee
FCA member of ICAEW
Expert on, unrivalled connections to, Democratic People's Republic of Korea (DPRK aka North Korea).
Fraud investigation, ethics, corporate governance audit reviews and setting up audit committee
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