Online Safety Community

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

Event Details

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

Time: April 10, 2018 from 1pm to 2pm
Location: 26468 E Walker Dr, Aurora, Colorado 80016-6104
Street: 26468 E Walker Dr, Aurora, Colorado 80016-6104
City/Town: Aurora
Website or Map: https://goo.gl/vXLHVy
Phone: +1-888-300-8494
Event Type: online, webinar
Organized By: Training Doyens
Latest Activity: Mar 12, 2018

Export to Outlook or iCal (.ics)

Event Description

OVERVIEW

For many organizations, the 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.

Anti-fraud experts urge a proactive, comprehensive P2P anti-fraud approach. It should include assessing fraud risks in all three phases ... conducting regular audits that comprise testing for these risks and ... following up with effective internal control design and monitoring.

WHY SHOULD YOU ATTEND

Fraud is growing every 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.

Because most of the funds flowing out of the organization do so through the procure-to-pay cycle, it stands to reason that much of the growing fraud threat is centered on these critical closely-linked business functions.

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

INTRODUCTION

  • 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

LEARNING OBJECTIVES

  • 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

WHO WILL BENEFIT

  • Purchasing managers and senior staff
  • Accounts payable managers
  • Shipping and receiving/supply chain managers
  • Accounting and audit practitioners
  • CFO’s and senior finance staff
  • Internal and external audit professionals
  • Senior financial management seeking to reduce their vulnerability to costly frauds 
  • Compliance and ethics managers
  • CFO’s/senior financial managers
  • Security personnel

 

For more detail please click on this below link:

http://bit.ly/2I5RjPM

 

Email: support@trainingdoyens.com

Toll Free: +1-888-300-8494

Tel: +1-720-996-1616

Fax: +1-888-909-1882

Comment Wall

Comment

RSVP for Procure-to-Pay Fraud: Detecting and Preventing Purchasing, Receiving and Disbursement Frauds to add comments!

Join Online Safety Community

Attending (1)

Take our poll!

Take our poll!

Latest Activity

Mark Nilson posted an event

Managing Special Assignments: Advanced Best Practices for Administrative Professionals at Training Doyens 26468 E Walker Dr, Aurora, Colorado 80016

June 20, 2019 from 1pm to 2:30pm
OVERVIEWRefine your organizational skills to keep your projects on time, on budget, and on target. You've mastered the planning, executing, reviewing, and revising skills, making the difference between success and failure. You are good at getting the different stakeholders to provide information or direction and to show up for important milestones meetings.You're ready to hone your organizational and general administrative…See More
10 hours ago
Training Doyens posted an event
Thumbnail

Optimize Your Employee Onboarding: Techniques to Improve and Enhance the New Employee Experience at 26468 E Walker Dr, Aurora, Colorado 80016

June 18, 2019 from 1pm to 2pm
OVERVIEWIn this webinar, we will learn the reasons onboarding experience for new hires is important today. We will learn that the terms orientation and onboarding new employees are not interchangeable. We will learn that orientation is in reality just one step in the onboarding process. We will learn that the HR onboarding process begins before the hire is made.WHY SHOULD…See More
Wednesday
Mark Nilson posted events
Wednesday
Training Doyens posted events
Tuesday

Forum

Green Smart Technical 800+ Turnkey Projects in UAE – Rope Access Company in Dubai

Green smart is an ISO 9001: 2015 QMS, OHSAS 18001: 2017 OHSMS, ISO 14001: …Continue

Tags: window, cleaning, services, facade, companies

Started by Manikandan Apr 23.

Workplace safety for workers other than your own 2 Replies

Do your workplace/traffic safety plans include safety measures for workers who are not your own employees? Do they take into account the safety of those who will be - or could be - at your workplace,…Continue

Tags: emt, paramedics, emergency, occupational, health

Started by John Petropoulos Memorial Fund. Last reply by Tara safe Mar 1.

What % of Dollars should be bugeted for All Safety Training for a "Heavy Equipment Road Construction" company with 100 employees? 1 Reply

I have been at a Highway and Road Construction company for six months. I am developing a (first) complete training program. I am the 1st full time safety hire for this company. I need to develop a…Continue

Started by JTurpening. Last reply by Jen McDade Feb 19.

Technology and Safety 1 Reply

What are the most useful tools to have at your fingertips? -Toolbox Talks-JSA-JHA-Daily Reports, etc. What is falling through the cracks that could be an easy fix? Safety Managers, Coordinators and…Continue

Tags: safety

Started by Drew stone. Last reply by Jen McDade Feb 15.

Important of Warning sign 1 Reply

Warning sign is a type of traffic sign that guide a hazard ahead on the road. Having proper warning sign on the road provide a healthy environment.Continue

Tags: Signs, Workplace, Safety, Sign, Warning

Started by healthandsafetysigns. Last reply by Jen McDade Jan 14.

Badge

Loading…

© 2019   Created by Safety Community.   Powered by

Badges  |  Report an Issue  |  Terms of Service