Auditing Unethical & Fraudulent Practices in Procurement

Duration: 5 Days

Detect and prevent unethical practices in procurement

How can I attend my course?


Course Outline

Target Audience

This course is valuable for internal auditing teams or anyone in a similar function wanting to understanding how to detect and prevent unethical practices in procurement.

Objectives

This program teaches you how to:

  •  Learn about the fundamental concepts that underpin the audit and management of the procurement process
  • Understand how to spot unethical dealings
  • Evaluate internal controls
  • Evaluate the tendering and bidding process
  • Instill the right management practices for transparency and accountability

Course Content

The course is structured and focused on understanding how to detect and prevent unethical practices in procurement. It is aimed at 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:

Overview of the Purchasing Cycle
  • Discuss the responsibilities of a typical corporate purchasing group and the purchasing business 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
  • On and off-book
  • 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
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
  • On and off-book
  • Proactive risk-based auditing to detect purchasing fraud
  • Investigations of purchasing frauds identified
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

My Course Notes

You will receive a full set of course notes and all supporting materials for your course. Hard Copy Delivered to your premises or Downloaded to a chosen device.
 

     OR  

To book this course please call +44 (0) 1444 410296 or email at Info@kplknowledge.co.uk

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