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Online Training 2015 - Detecting and Preventing Accounts Payable Fraud. - By Compliance Global Inc



VenueCompliance Global Inc. 2754 80th Avenue, New Hyde Park, NY 11040, USA - United States USA - United States

KeywordsAccounts payable process; Fraud investigation techniques; Hipaa compliance


Topics/Call fo Papers

Accounts Payable (AP) is the one business function that, in many organizations, is more vulnerable to fraud than any other. That is because all funds that flow out of the organization must first pass through AP. And over time, dishonest insiders and vendors have created newer and craftier methods of stealing from organizations by exploiting control weaknesses in the Accounts Payable process function.
Result: It is more important than ever for management to allocate professional and financial resources to eliminating these control weaknesses. This almost always starts with learning about the types of AP fraud that can victimize your organization. It is then necessary to determine if proper controls are already in place to prevent such crimes from occurring. From there, internal audit plans must be adjusted to include tests and methodologies for identifying the red flags of possible AP fraud. This enables management to initiate further examination of suspicious findings and ultimately to apprehend offenders and remediate control weaknesses.
This webinar will guide you through each of these critical steps, leaving you with practical “how-to” guidance for minimizing your organization’s exposure to AP fraudsters.
Why Should You Attend:
Businesses suffer an average of $155,000 every time an insider commits fraud according to the Association of Certified Fraud Examiners. More disturbing: Billing schemes (perhaps the most common form of AP fraud in the financial industry) are by far the most common fraud schemes threatening organizations, making up nearly one-third of the total. Adding to the problem, check fraud is rising at a rate of 25% per year and criminals are coming up with new high-tech ways of hijacking corporate ACH (Automated Clearing House) accounts.
Participants will learn how to identify varieties of AP-related fraud schemes damaging organizations of all kinds, including small businesses and non-profits, and determine how shrewd fraudsters abuse the AP process to embezzle funds for years before being detected, and how to shorten the time before discovery.
The webinar will enable them to quickly recognize the red flags of AP fraud in your operations and financial records and will assist in providing cost-effective accounting internal controls to protect against the growing army of fraudsters both inside and outside their organizations.
Areas Covered in the Session:
? Statistical overview of the fraud problem
? Who commits fraud
? Why employees commit fraud (The Fraud Triangle)
? Lessons from fraudsters
? Vendor/billing fraud schemes
? Check fraud and tampering
? ACH fraud
? Fraudulent AP financial reporting
? Kickbacks/bribery
? Conflicts of interest
? P-Card fraud
? Conducting a Fraud Risk Assessment and Recognizing the Red Flags of Internal Fraud
? The Fraud Risk Mitigation Cycle
? Implementing an organization-wide system for detecting, preventing and investigating fraud
? How Frauds Are Most Often Detected
? Additional General Detection Methods
? Data Mining/Analytics for fraud detection
? Examples of Fraud Audit Techniques at Work
? Internal Controls and Other Fraud Prevention Measures
? Who Should Manage Anti-Fraud Activities for AP
? Internal Controls: Do’s and Don’ts
? General controls: Segregation of Duties, Delegation of Authority, Background Investigation
? Specific AP Operations-Level Controls
Learning Objectives:
Participants will be able to:
? Conduct a quick and cost-effective Fraud Risk Assessment for client AP operations
? Implement effective AP fraud detection techniques and build audit practices to detect red flags of AP fraud
? Implement best-practice Anti-Fraud Control strategies for AP
? Advise management on fraud risk mitigation through transaction monitoring, technology/information technology tools and low-cost internal controls
? Recommend better anti-fraud management structure (Board of Directors/Executive Management, Line Management, Compliance, General Counsel, etc.)
Who Will Benefit:
? Internal Audit Professionals
? External Audit Professionals
? Accounting Practitioners
? Audit Practitioners
? AP Managers
? Senior Financial Managers
? Procurement Specialists
? Payables Specialists
? Compliance Managers
? Ethics Managers
? CFO’s
? Security Personnel
For more detail please click on this below link:
Toll Free: +1-844-746-4244
Tel: +1-516-900-5515

Last modified: 2015-06-04 21:50:34