Together, Reducing Fraud Worldwide

  • Detecting fraud through vendor audits 

     

     

    DAY ONE 

    7:30 a.m. - 8:00 a.m.   Registration - Breakfast Pastries 
    8:00 a.m. - 9:20 a.m. 

    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. 

    9:20 a.m. - 9:35 a.m.  Break 
    9:35 a.m. - 10:55 a.m. 

    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.        

    10:55 a.m. - 11:10 a.m.  Break 
    11:10 a.m. - 12:30 p.m. 

    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. 

    12:30 p.m. - 1:30 p.m.  Group Lunch 
    1:30 p.m. - 2:50 p.m. 

    Auditing Vendor Documentation  

    Determine the most effective ways to request and gather documents, understand the types of vendor data that are relevant for the audit, and learn numerous audit tests designed to detect red flags of corruption, billing schemes and other forms of vendor fraud and abuse.
    2:50 p.m. - 3:05 p.m.  Break 
    3:05 p.m. - 4:25 p.m.  

    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. 

     

    Course Details