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

The start date for this course has passed. Registration is no longer available.

This course is 2.00 credits
Instructor
Peter Goldmann
Field of Study
Accounting
Course Level
Advanced
Vendor
CPA Crossings LLC

Instructor

Peter Goldmann

Registration Fees

MSCPA-AICPA Member
$79.00
MSCPA Member
$79.00
AICPA Member
$79.00
Non-Member
$79.00
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Friday, Feb 9, 2018
3:00pm – 5:00pm

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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.
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.

Designed For

CPAs, bankers, senior financial executives, internal auditors, purchasing managers, AP managers, operations managers, controllers, CFOs, compliance officers, security and risk managers

Course 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

Major Subjects

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

Prerequisites

None

The start date for this course has passed. Registration is no longer available.