Webinar

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

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.

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

Highlights

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

Additional Information

Designed For

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

Vendor

CPA Crossings, LLC

Advanced Preparation

None

Prerequisite

None

Field of Study

Accounting

Course Number

178937

Level of Knowledge

Advanced

Add to Cart

View All Courses