Procure-to-Pay Fraud: Detecting and Preventing Purchasing, Receiving and Disbursement Fraud

Website https://www.trainhr.com/control/~product_id=100015SEMINAR/procure-to-pay_fraud | Edit Freely

Category Procure-to-Pay Fraud;External Audit Professionals;P2P

Deadline: July 29, 2014 | Date: July 31, 2014-August 01, 2014

Venue/Country: Hilton Garden Inn Denver Downtown, U.S.A

Updated: 2014-06-26 21:01:03 (GMT+9)

Call For Papers - CFP

Procure to pay is the target for fraudsters of many kinds both inside and outside your organization. Consider the possibility of receiving a perfectly legitimately-looking invoice which gets approved and processed before it is determined that the sender of the invoice is a "ghost" vendor with nothing more than a postal box for an address.

Or-the case of the large retailer whose Accounts Payable department honored the E-mail request of a "vendor" to switch from check payment to ACH payment, only to learn several millions dollars in fraudulent payments later, that the sender was a fraudster.

The variety of frauds that can and do plague the three components of the P2P cycle-Purchasing, Receiving and Disbursement-is large and growing. The good news is that with adequate awareness of the threat and the means and expertise to detect weaknesses in internal controls, a very effective prevention framework can be built..and maintained.

This Seminar is designed to provide a foundation of current knowledge about P2P fraud threats -as a foundation for understanding the specific "how-to's" of P2P fraud detection and prevention.

Why should you attend:

Key learning points for this Seminar:

Understand how common procurement, receiving and disbursement frauds are perpetrated

Understand who the primary perpetrators of purchasing, receiving and disbursement fraud are

Understand why purchasing, receiving and accounts payable employees commit fraud

Learn how not to manage P2P from important case studies of frauds committing in this area

Recognize the red flags of common P2P frauds

Know how to apply best P2P fraud detection tools and techniques

Learn to correct P2P control deficiencies in favor of a robust anti-fraud control framework

Agenda:

Day One

Lecture 1: Introduction, Fraud Statistics/P2P Fraud Statistics & Description of Two Categories of P2P Fraud: Internal & External

Lecture 2: Procurement Fraud Types-Descriptions and Case Studies

Lecture 3: Interactive Exercise and Discussion

Lecture 4: Receiving and Disbursement/Accounts Payable Fraud Types-short description and Case Studies

Lecture 5: Session "Fraud Risk Mitigation Cycle" (Includes explanation of Fraud Risk Assessment, listing of red flags for high-risk fraud scenarios, fraud-audit testing and techniques for the red flags, follow-up and report to management and ultimate remediation of internal control deficiencies) I have a graphic summary of this that use in explaining it

Lecture 6: Group Discussion/Q & A

Day Two

Lecture 7: Detailed procurement fraud detection/audit techniques (TD) and Case Studies

Lecture 8: Detailed receiving fraud detection/audit techniques (TD) and Case Studies

Lecture 9: Detailed disbursement/AP fraud detection/audit techniques (TD) and Case Studies

Lecture 10: Interactive Exercise and Group Discussion

Lecture 11: Detailed P2P Fraud Prevention Policies, Procedures and Best Practices with Case Studies

Lecture 12: Incident response planning & Employee Fraud Awareness Training

Lecture 13: Summary, Conclusion and Final Group Discussion/Q&A

Speaker Profile:

Peter Goldmann

President, FraudAware

Peter Goldmann is founder and President of White-Collar Crime 101 LLC, the parent company of FraudAware and publisher of the monthly newsletter, White-Collar Crime Fighter. Peter has been the Publisher and Editor of White-Collar Crime Fighter for over 12 years and is recognized as a leading expert in the areas of fraud detection, prevention, investigation and training. He has written numerous articles on practical approaches to fraud prevention and detection for, among others, Internal Auditor, Investor's Business Daily, Financial Executives Institute and Bottom Line/Personal, Recognizing the vulnerability to fraud posed by a lack of awareness on the part of rank-and-file employees about specific types of economic crime , Peter launched the development of FraudAware in 2001. Following enactment of the Sarbanes-Oxley Act of 2002, FraudAware began helping companies resolve the unexpected increase in fraud losses, despite the costly implementation of SOX- mandated internal controls. He determined that while internal controls, Tone at the Top and whistleblower hotlines are all essential components of an effective anti-fraud program, the primary reason for continuing losses to internal and external economic criminals was a widespread lack of fraud awareness on the part of corporate rank-and-file employees. He theorized that if an organization's most valuable asset--its workforce--could be taught to spot and report telltale signs of fraud, investigations could be initiated and perpetrators apprehended before major losses were incurred and negative publicity tarnished the organization's reputation. The theory has proved viable over the past six years, as FraudAware training programs implemented at numerous companies in all major industries, have taught employees how to detect the common and not-so-common red flags of fraud and--most importantly--how to report these incidents through their employer's confidential hotline channels.

Call our representative on +1-800-385-1627 to have your seats confirmed.

Contact Information:

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Russel Stuart

Toll free: +1-800-385-1627

Fax: 302 288 6884

Email: supporttrainhr.com

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