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Auditing Unethical & Fraudulent Practices in Procurement Course Outcomes

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This program teaches how to:

  • Learn about the fundamental concepts that underpin the audit and management of the procurement process
  • Identify common fraud related practices
  • Understand how to spot unethical dealings
  • Evaluate and implement strong internal controls
  • Adopt a robust tendering and bidding process
  • Instil the right management practices and process for transparency and accountability

Course Agenda:

The course is structured around, and focused on, understanding how to detect and prevent unethical practices in procurement. It is aimed at the internal auditing teams or anyone in a similar function. Each module is underpinned by workshop-based, real-world case studies.
The overall approach is geared towards facilitating and divulging information and skills relevant to the practical needs of the attendees, and includes the following topics:

        • Discuss the responsibilities of a typical corporate purchasing group and the purchasing business cycle.
        • Overview of the Purchasing Cycle
        • Understand who is involved (internal and external)
        • Identify differences in the purchasing cycle depending on the industry and company size
  • Purchasing Fraud Schemes:
    • Classifications of purchasing fraud.
    • Corruption.
    • Asset Misappropriation.
    • On and off-book.
    • Purchasing fraud schemes
    • Purchasing fraud statistics and industry comparisons.
  • Risk-based Strategy to Fight Purchasing Malpractice:
    • Purchasing fraud risk assessment
    • Fraud opportunity reduction through purchasing process improvement
    • Internal controls to reduce purchasing fraud risk.
    • Proactive risk-based auditing to detect purchasing fraud.
    • Investigations of purchasing frauds identified.
  • Internal Controls over Purchasing:
    • Assess the level of purchasing fraud risk at your organization, including industry and geographic considerations.
    • Define relevant internal control practices (e.g. explicit policies, segregations of duties, vendor selection, and independent centralized procurement group).
    • Review policies, processes, and approval limits.
    • Exceptions to normal protocol (e.g. sole sourcing decisions and bid waivers).
    • Vendor monitoring and evaluation criteria.
  • Purchasing Fraud Detection Processes:
    • Risk-based purchasing fraud detection audits.
    • Using CAATS to detect purchasing fraud.
    • Tips and complaints.
    • Soliciting feedback from management, employees, the public and vendors (current, former and rejected).
    • Vendor monitoring.
    • Monitoring of major contracts.
  • Detecting Particular Purchasing Fraud Schemes:
    • Scheme-based purchasing fraud symptoms and detection methods.
    • Special considerations for off-book purchasing fraud schemes.
    • Special considerations for contract bidding schemes.
    • Internal Audit’s Role in Purchasing Fraud Investigations.
    • Purchasing fraud investigation techniques and resources.
    • Enterprise-wide business process.

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