Purchasing and Stock Fraud: Detection, Avoidance and Control

This interactive class will  help you  to assess an organization’s risks relating to purchasing  fraud, identify controls that can mitigate those risks, design audit tests to detect purchasing fraud  and investigate evidence of  fraud occurring. The instructors will provide examples from their practical experience.

CONTENT:

*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 and Stock Fraud Schemes

· Classifications of purchasing and stock fraud

· Corruption and Asset Misappropriation 

· Purchasing and stock fraud schemes

*Risk-Based Strategy to Fight Purchasing and Stock Fraud

· Purchasing and stock fraud risk assessment

· Fraud opportunity reduction through purchasing process improvement

· Internal controls to reduce purchasing and stock risk

· Proactive risk-based approaches to detect purchasing and stock fraud

· Investigations of purchasing and stock fraud identified

*Purchasing and Stock Fraud Detection Processes

· Risk-based purchasing and stock fraud detection audits

· Using CAATS to detect purchasing and stock fraud

Stock Fraud Management

· Types and causes of stock fraud

· Fraudulent shortages and supplies

· Fraud-free management of returned and used parts/spares

· Falsification of stores and supplies documents

*Detecting Particular Purchasing and Stock Fraud Schemes

· Scheme-based purchasing and stock fraud symptoms and detection methods

· Special considerations for off-book purchasing fraud schemes

· Special considerations for contract bidding schemes

· Special consideration for stock fraud

· Vendor monitoring: major contracts and stores

FOR WHOM: Stores, Purchasing & Logistics Personnel in the Public and Private Sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

Date:

1ST BATCH                        2nd – 5th April, 2019

2ND BATCH                      24th - 27th September, 2019