Purchasing Fraud: Auditing and Detection Techniques

The purchasing process is one of the riskiest areas when it comes to fraud and abuse. The many opportunities associated with the process can leave companies vulnerable to both internal as well as external fraud. In fact, some procurement fraud schemes are the hardest types of fraud to detect (e.g. kickbacks and other off-book schemes).

This interactive workshop will help you to assess an organization’s risks relating to purchasing fraud, identify controls that can mitigate those risks, design audit tests to detect purchasing fraud and investigate evidence of fraud occurring.

Content

Purchasing Fraud Schemes

• Classifications of Purchasing Fraud
• Corruption and Asset Misappropriation
• On and Off-Book

Risk-Based Strategy to Fight Purchasing Fraud

• Purchasing Fraud Risk Assessment
• Fraud Opportunity Reduction
• Proactive Risk-Based Auditing
• Investigations of Purchasing Frauds Identified

Internal Controls over Purchasing

• Assess the Level of Purchasing Fraud Risk
• Internal Control Practices
• Review Policies, Processes and Approval Limited
• Exceptions of Normal Protocol
• Vendor Monitoring and Evaluation Criteria

Purchasing Fraud Detection Processes

• Risk-Based Purchasing Fraud Detection Audits
• Using CAATS to detect Purchasing Fraud
• Tips and Complaints
• Vendor Monitoring
• Monitoring of Major Contracts

Internal Audit’s Role in Purchasing Fraud Investigations

• Purchasing Fraud Investigation Techniques and Resources
• Enterprise-Wide Business Process and Control Remediation
• Off-Book Purchasing Fraud Schemes
• Purchasing Fraud Symptoms and Detection Methods

For Whom: Stores Managers, Decision Makers, Purchasing Managers, Production Managers, Operations Managers, Supervisors, Inventory Planning Managers, Procurement Managers, CFO, Directors, Human Resources Managers, Accountants, Finance Managers, Management Accountants, Financial Analysts, Staff in Internal Audit Departments, Financial Analysts, Finance Managers and others who perform related functions or who want to update/sharpen their knowledge or skills in purchasing fraud.