Training Course Syllabus:
Objectives of the Presentation
By attending this webinar Participants will be able to:
Understand how the most common procurement, receiving and disbursement fraud are perpetrated, including the latest technology-driven crimes that are costing organizations millions of dollars
Understand why purchasing, receiving and accounts payable employees commit fraud
Recognize the all-important red flags of common P2P frauds
Develop a knowledge base of P2P fraud detection tools and techniques
Begin creating a framework of effective anti-fraud controls
Why Should you Attend
Fraud is growing by a staggering 20% per year, according to the respected international fraud investigation firm, Kroll. The majority of all fraud, according to the Association of Certified Fraud Examiners is committed by employees.
For many organizations, procure-to-pay cycle offers extensive opportunity for increased operational efficiency. However, it also provides potentially numerous opportunities for fraudsters to exploit control deficiencies in all three stages-purchasing, receiving and disbursements.
One common management mistake in the P2P cycle is adhering to a reactive anti-fraud posture. A criminal act committed in, for example, the purchasing department through a kickback scheme, may be detected and dealt with on an "emergency" basis. Meanwhile, equally, if not more costly frauds may be going unnoticed in the receiving and account payable areas.
This underscores the urgent need for management to understand the vast variety of frauds in P2P and to apply the necessary detection, audit, reporting and prevention measures.
Areas Covered in this Webinar:
Statistical overview of the fraud problem generally, and T&E fraud specifically
Who commits fraud
Overview of most common P2P fraud schemes
Case studies of purchasing, receiving and disbursement fraud
P2P FRAUD DETECTION AND PREVENTION:
Red flags of key P2P frauds
Conducting a Fraud Risk Assessment of the P2P Cycle
Audit techniques to identify P2P fraud red flags
Digging deeper for indicators of actual fraud
Reporting to Management
Remediating internal control deficiencies in the P2P process
Case studies of procurement, receiving and disbursement fraud
Who will Benefit
Purchasing managers and senior staff, Accounts payable managers, Shipping and receiving/supply chain managers, Accounting and audit practitioners, CFOs and senior finance staff, Controllers, Procurement executives, Internal and external audit professionals, Senior financial management seeking to reduce their vulnerability to costly fraud, Compliance and ethics managers, Compliance professionals, CFOs/senior financial managers, Security personnel, Internal control professionals, Finance and accounting management, Loss prevention and risk specialists, Security professionals, Fraud examiners, Payments professionals, Procurement/purchasing and payables specialists