Procurement Fraud: Detection, Identification & Prevention
- May 11 – 12, 2020
- 9:00 AM to 5:00 PM
- Jakarta, Indonesia
The increase in contract management and the outsourcing of goods and services has created an increase in procurement fraud. It is important to have the correct controls, processes and fraud preventative strategies in place. We will discuss best practices for preventing, detecting, and investigating contract and procurement fraud.
Every organisation, whether large or small, buy’s in products or services and when this activity is high value spend it can become a natural target for fraudsters. Fraud within the procurement life cycle is high risk and often becomes embedded within the organisation and can result in recurring losses. This type of fraud also requires some form of insider collaboration, which puts your organisation at risk. This means that the fraudsters may know your company processes and confidential insider information.
There is plenty of published guidance on how to prevent procurement fraud yet it continues to occur. However, this workshop provides training using practically gained commercial procurement fraud experience and is supported by academic research.
Day One will focus on the procurement process and procurement fraud, the underlying fraud risks/schemes/vulnerabilities, and expected controls. The sessions during the day will look at what
constitutes fraud, the fraud indicators, and legal elements of fraud.
Day Two will focus on detecting procurement fraud and fraud risks. Particular attention will be paid to tender processes and contracts. Finally, will address the prevention of fraud, create fraud awareness in the organisation, and develop a fraud prevention model against best practices.
key benefits that attendees will take out of this workshop
- Discover how to identify your current real procurement fraud exposure and identify the specific steps needed to take.
- Identify the tactics procurement fraudsters are currently using, and compare security in these areas using “Best Practice”.
- Find out how to identify the red flags that indicate where possible fraudulent activity may exist within purchasing procedures.
- Learn what policies, procedures and systems that can be implemented that are not overly onerous, but limit exposure to fraud and add value to your organisation.
- Understand how implementing best corporate governance through the organisation can help to reduce fraud in the procurement area.
- Discover a range of proactive strategies that can be implemented to actively fight and block the opportunities for procurement fraud actions.
- Learn what actions should be taken if it is suspected that fraudulent activities may be taking place – and how to manage the fraud investigation.
- Discover ways to highlight the importance of fraud prevention and detection to all employees, improving ethics and encouraging “tip-offs”.
who should attend
This Procurement Fraud Executive Workshop is suitable for anyone concerned with procurement and tendering, in particular those whose role includes countering fraud and internal audit, as well as anyone who has responsibility for a budget (expenditure authorisation/review) or investigations, in particular:
- Certified Fraud Examiners and other anti-fraud specialists
- Internal and independent auditors seeking to increase their anti-fraud effectiveness
- Professionals who want to help deter fraud within their entities
- Forensic accountants, attorneys, and law enforcement personnel
- Management who make purchasing and contract decisions
- Purchasing and procurement professionals, and buyers
- Employees and educators seeking knowledge to detect fraudulent activities