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Procure-to-Pay Fraud: Detection and Prevention Best Practice

03.15.18 11:00AM – 03.15.18 1:00PM

Details

Credits
2.00

Level
Advanced

Fees

Member Fee
$79.00

Nonmember Fee
$113.00

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General Info

Description
For most organizations, the procure-to-pay cycle (P2P) offers extensive opportunity for increased operational efficiency. However, it also provides numerous opportunities for fraudsters to exploit control deficiencies in all three stages-purchasing, receiving and disbursements. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions either during or after the event.
Highlights
Goldmann will show you..

  • Who commits fraud in each segment of the P2P Cycle and why they do it
  • Inside secrets from actual fraudsters
  • Vendor billing schemes
  • Vendor Master File frauds
  • Shipment diversion/theft schemes
  • Shipping document falsification
  • Latest payments schemes (ACH hijacking, social engineering and more
  • Check fraud and tampering
  • How easy it can be for Procurement to collude with vendors in costly kickback schemes
  • Abusing the competitive bidding process for personal gain
  • Conflicts of interest
Objectives
At the conclusion of the webinar you will be able to..

  • Conduct a quick and cost-effective Fraud Risk Assessment of Procurement, Receiving and AP
  • Implement effective P2P fraud detection techniques and build audit practices to detect the red flags of the many frauds threatening your P2P operations
  • Implement best-practice anti-fraud control strategies for P2P
  • Advise management on fraud risk mitigation
  • Recommend a better anti-fraud control structure
Designed For
CPAs, bankers, senior financial executives, internal auditors, purchasing managers, AP managers, operations managers, controllers, CFOs, compliance officers, security and risk managers
Vendor
CPA Crossings, LLC
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