On-Site Training Proposed Schedule
Detecting fraud through vendor audits
Contract Terms and Conditions: The Foundation for Good Vendor Audits
Discover the importance of precise contract language, how it supports future audits and how to craft an effective audit clause. You will also review the types of contracts and audit challenges associated with each.
Identifying and Selecting Audit Candidates
Learn the importance of routinely exercising vendor audit rights and different ways to determine which vendors to audit, such as by amount spent, number of invoices or identified outliers, as well as the pros and cons of using each method.
Preparing for a Vendor Audit
In this session, you will examine ways to clearly define the type of audit you will perform and use that to focus the audit plan and outline the expected procedures. You’ll learn how to develop management support for the audit, determine the necessary audit resources, collect pre-audit background information and more.
Auditing Vendor Documentation
Finding Fraud in Vendor Audits
This section presents examples of the broad range of vendor fraud, such as schemes involving manipulation of labor, employee travel, materials, equipment and contract rates. Learn to identify the warning signs of common vendor frauds so you can more effectively uncover them.