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Travel & Entertainment/Expense Reimbursement Fraud: Detection & Prevention

Event Details

Travel & Entertainment/Expense Reimbursement Fraud: Detection & Prevention

Time: February 20, 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/F16aAY
Phone: 7209961616
Event Type: online, webinar
Organized By: Training Doyens
Latest Activity: Jan 24, 2018

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Event Description

OVERVIEW

Expense reimbursement fraud—encompassing the myriad forms of employee travel and entertainment (T&E) schemes as well as Purchasing Card (P-Card) fraud—costs organizations hundreds of thousands, if not millions of dollars per year

According to the Association of Certified Fraud Examiners (ACFE), expense reimbursement frauds result in a median loss of $26,000 per incident and represent 14.5% of all employee fraud.

WHY SHOULD YOU ATTEND

In one case alone, a senior executive of a major multinational company stole $500,000 by abusing his expense account privileges. While this may not be typical of expense reimbursement fraud, it does illustrate how employees who have the opportunity to exploit weaknesses in your organization’s expense reimbursement processes and procedures can do so.

AREAS COVERED

INTRODUCTION

  • Statistical overview of the fraud problem generally, and T&E fraud specifically
  • Who commits fraud  
  • Why employees commit fraud (The Fraud Triangle)
  • Lessons from T&E fraudsters

COMMON TYPES OF EXPENSE REIMBURSEMENT FRAUD TODAY

  • Falsifying T&E reimbursement schemes w/ bogus receipts
  • Submitting T&E claims multiple times 
  • Abuse of corporate/P-card for personal gain
  • Claiming for expenses just under the limit requiring approval
  • Purchasing more than needed (e.g. office supplies)
  • Exploiting AP/Disbursements control weaknesses
  • P-Card fraud

RED FLAGS OF AP FRAUD

  • Specific red flags of each of the common expense reimbursement frauds
  • The Fraud Risk Mitigation Cycle
  • Implementing an organization-wide system for detecting, preventing and investigating fraud

LEARNING OBJECTIVES

This webinar will summarize the main types of reimbursement fraud to be alert of, including several “real life” case studies. It will then explain how to identify the red flags of possible reimbursement fraud, offer specific fraud-audit techniques and test for these crimes and conclude with a rundown of proven anti-fraud controls.

Participants will be able to:

  • Understand the many types of travel, entertainment and internal procurement frauds
  • Implement effective expense reimbursement fraud detection techniques and build audit practices to detect red flags of these crimes
  • Implement best-practice Anti-Fraud Control strategies for expense reimbursement fraud

WHO WILL BENEFIT

  • Internal and external audit professionals
  • Accounting and audit practitioners
  • HR managers
  • Senior financial management seeking to reduce their vulnerability to costly frauds 
  • Payables specialists
  • Procurement managers
  • Compliance and ethics managers
  • CFO’s/senior financial managers
  • Security personnel

 

For more detail please click on this below link:

https://goo.gl/rn4RM2

 

Email: support@trainingdoyens.com

Toll Free: +1-888-300-8494

Tel: +1-720-996-1616

Fax: +1-888-909-1882

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