Overview:
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.
Areas Covered in the Session:
- 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 favour of a robust anti-fraud control framework
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
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.
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