Purchasing Fraud

Availability

Currently available for on-site presentations. Contact us to schedule this program at your organization.

This course will soon be available in the following cities: New York, Philadelphia, Charlotte, Atlanta, Miami, Orlando & Dallas. Check back soon for more details.

Overview

The procurement function is one of the most vulnerable areas of a business when it comes to fraud. This class provides an overview of the purchasing process and how different procurement transactions are structured. Purchasing fraud schemes are examined as well as controls that could prevent or detect them. The course reinforces how to build and execute an effective purchasing internal audit from planning through reporting and follow-up. It also provides guidance on how to implement continual monitoring protocols (data analytics) over the purchasing process. When anomalies are identified, learn how to determine next steps. Lastly, learn how to perform contract compliance audits to actually recover money for your organization.

Objectives

Explain the purchasing process, risks, and controls
]Identify the different ways an organization acquires goods and services
Discuss the common types of purchasing fraud, how it is perpetrated, and common red flags
Design audit tests, procedures, and programs that will aid in the identification of purchasing fraud
Implement data analytics that can identify possible fraud
Determine when an internal audit may become a fraud investigation and the importance of a fraud response plan
Perform contract compliance audits to identify possible fraud, waste and/or abuse and recover overpayments

Admissions & Delivery

Prerequisites: None however internal audit experience is helpful as is a basic understanding of the procurement process.
Who should attend: This course is designed for internal auditors, fraud investigators, contract compliance auditors, members of an organizations procurement group, SOX control professional and related roles
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Live

Credit Hours

This program can be modified to meet the needs of attendees. The course length can range from a simple one hour overview to the full two day course. To fully accomplish all objectives at a level where attendees can effectively execute all elements of the training the two day course is recommended.

Attendance at the two day course will entitle participants to 18.0 CPE credits.

Fields of Study (18 credits)

Auditing – Technical (13 hours)
Management Services – Technical (4 hours)
Communications – Non-Technical (1 hour)

Course Facilitators

Policies & CPE Notice

Many of our training courses & simulations offer Continuing Professional Education (CPE) credits for CPA’s and other related certifications, subject to participants meeting certain criteria. Fraud.global LLC maintains various policies applicable to providing continuing professional education. Please click here to access our refund policy, complaint resolution policy and others.

Fraud.global LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. (Application Pending)

If you intend to use the continuing education credits for governmental entities, membership associations, or other professional organizations, please consult them before registering to ensure their acceptance. If a course is registered with a State Bar Association for continuing legal education (CLE) a special notice will be included in the course advertisement.