Online Seminar 2019 - Live Webinar Employee Travel and Expense Reimbursement Schemes: Detection and Prevention

Partial Course Agenda
INTRODUCTION
Statistical overview of the fraud problem generally, and T&E fraud specifically
Who commits fraud
Why employees commit fraud (The Fraud Triangle)
Lessons from T&E fraudsters
COMMON TYPES OF EXPENSE REIMBURSEMENT FRAUD TODAY
Falsifying T&E reimbursement schemes w/ bogus receipts
Submitting T&E claims multiple times
Abuse of corporate/P-card for personal gain
Claiming for expenses just under the limit requiring approval
Purchasing more than needed (e.g. office supplies)
Exploiting AP/Disbursements control weaknesses
P-Card fraud
RED FLAGS OF AP FRAUD
Specific red flags of each of the common expense reimbursement frauds
The Fraud Risk Mitigation Cycle
Implementing an organization-wide system for detecting, preventing and investigating fraud
FRAUD DETECTION
How T&E Frauds Are Most Often Detected
Additional General Detection Methods
Data Mining/Analytics for fraud detection
Examples of Fraud Audit Techniques at Work
ANTI-FRAUD CONTROLS FOR EXPENSE REIMBURSEMENT FRAUD
Internal Controls and Other T&E Fraud Prevention Measures:
Who Should Manage Anti Fraud Activities
Internal Controls: Do’s and Don’t’s
General controls: Segregation of Duties, Delegation of Authority, Background Investigation
Specific Expense reimbursement controls and deterrents.
Who Should Attend
Internal and external audit professionals
Accounting and audit practitioners
HR managers
Senior financial management seeking to reduce their vulnerability to costly frauds
Payables specialists
Procurement managers
Compliance and ethics managers
CFO’s/senior financial managers
Security personnel
Overview
Expense reimbursement fraud—encompassing the myriad forms of employee travel and entertainment (T&E) schemes as well as Purchasing Card (P-Card) fraud—costs organizations hundreds of thousands, if not millions of dollars per year
According to the Association of Certified Fraud Examiners (ACFE), expense reimbursement frauds result in a median loss of $26,000 per incident and represent 14.5% of all employee fraud.
While many of these schemes are considered “immaterial”—such as claiming reimbursement for a personal meal ... charging a pay-per-view movie to a business-related hotel bill ... or inflating the cost of a taxi ride—management should not underestimate the cumulative cost of these thefts.
This webinar will summarize the main types of reimbursement fraud to be alert to, including several “real life” case studies. It will then explain how to identify the red flags of possible reimbursement fraud, offer specific fraud-audit techniques and test for these crimes and conclude with a rundown of proven anti-fraud controls.
Learning Objectives
Participants will be able to:
Understand the many types of travel, entertainment and internal procurement frauds
Implement effective expense reimbursement fraud detection techniques and build audit practices to detect red flags of these crimes
Implement best-practice Anti-Fraud Control strategies for expense reimbursement fraud
Instructor Profile:
Peter Goldmann is President of FraudAware LLC, developers of FraudAware, the leading fraud awareness training program. A user-friendly learning tool, FraudAware uses seminar, Webinar and E-Learning formats to train employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct.
Peter is the author of Fraud in the Markets: Why it Happens and How to Fight It, published by John Wiley & Sons. The book is an in-depth account of the role that fraud played in bringing about the financial crisis of 2008.
Peter is also the author four other anti-fraud books covering accounts payable fraud, accounts receivable fraud, as well as two workbooks on fraud risk and control, also published by Wiley.
In addition, Peter has conducted numerous on-site fraud detection and prevention workshops for internal auditors, attorneys, HR executives and compliance officers at Fortune 500 companies, privately owned businesses, NGO’s and government agencies..