Auditing for Vendor Fraud will help you to understand what measures can be taken to minimize this risk and prevent and detect vendor fraud. This course examines why vendor audits should be conducted and discusses the importance of right-to-audit clauses in vendor contracts. Examples of vendor fraud schemes both internal and external to an organization are also explored. In addition, the process for conducting vendor audits is outlined including preparing for the audit, gathering data, performing audit tests and executing post-audit activities.
ACFE Ordering and Return Policy
You Will Learn How To:
- Examine the need for vendor fraud audits
- Identify the risks that can result from working with vendors
- Recognize the importance of effective right-to-audit clauses in vendor contracts
- Identify vendor fraud schemes and related red flags
- Examine the process by which to conduct effective vendor audits
ADVANCED PREPARATION: NONE
FIELD OF STUDY: AUDITING
LAST UPDATED: DECEMBER 2020
DELIVERY METHOD: QAS SELF-STUDY
Table of Contents:
- Lesson 1: Why Conduct Vendor Audits?
- Lesson 2: Understanding Vendor Risks
- Lesson 3: Types of Vendor Contracts
- Lesson 4: Effective Contract Language
- Lesson 5: Right-to-Audit Clauses
- Lesson 6: Internal and External Vendor Audits
- Lesson 7: Vendor Fraud Schemes Involving Internal Staff
- Lesson 8: Other Vendor Fraud Schemes
- Lesson 9: Common Vendor Selection Techniques
- Lesson 10: Other Vendor Selection Techniques
- Lesson 11: Obtaining Pre-Audit Support
- Lesson 12: Notifying the Vendor
- Lesson 13: Preparing for the Vendor Fraud Audit
- Lesson 14: Understanding the Process, Data, and Players
- Lesson 15: Requesting Access to Vendor Data
- Lesson 16: Gathering Vendor Data
- Lesson 17: Testing and Analyzing the Data
- Lesson 18: Red Flags in a Vendor Audit
- Lesson 19: Reporting Findings
- Lesson 20: Management’s Response to Audit Findings
- Lesson 21: Recovering Funds
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