45 2014 - Travel & Entertainment Reimbursement Fraud Detection & Prevention

Instructor: Peter Goldmann, CFE
Description:
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.
Why Should you Attend:
In one case alone, a senior executive of a major multinational company stole $500,000 by abusing his expense account privileges. While this may not be typical of expense reimbursement fraud, it does illustrate how employees who have the opportunity to exploit weaknesses in your organization’s expense reimbursement processes and procedures can do so.
Moreover, anti-fraud experts agree that expense reimbursement fraud can be among the most difficult types of employee crime to detect and prevent. That is in large part due to the extraordinary variety of ways in which such crimes can be committed.
By attending this Webinar, you will learn how vulnerable your organization is to expense reimbursement fraud. You’ll learn about the common and not-so-common ways that these frauds are perpetrated and?most importantly?you’ll learn how to detect the red flags of these schemes, how to audit for them and how to tighten up your controls against them.
Objectives of the Presentation:
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
Who can Benefit:
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
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