Detecting Fraud Through Vendor Audits
- Sep 28, 2023 8:00 a.m.
- Central Time (GMT-5)
Does your organization have an established contractual right-to-audit in your purchasing and vendor contracts? Auditing vendors and suppliers is critical to deterring and detecting fraud. Doing this ensures that your organization is being treated equitably and is not a victim of fraud.
This course will help you to develop a solid foundation for vendor audits. This includes crucial information like identifying which vendors to target, how to prepare for a vendor audit, how to identify, gather and audit relevant vendor documentation and common vendor fraud schemes to look for.
Familiarity with the contract and procurement process.
Ensure that contract language supports future audits
Assess the strength of current vendor contracts and audit clause language
Identify and select good candidates for vendor audits
Recognize key parties affected by the vendor audit and obtain their support for the audit process
Identify and collect essential pre-audit background information
Determine and request supporting documentation for audit
Apply the most effective audit tests to detect potential fraud
Recognize the types of fraud and related red flags that might be uncovered during a vendor audit
Respond to identified vendor fraud warning signs
|Delivery Method:||Group Internet Based|
ACFE Members: $395
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.
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.
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.
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.
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.
Payment must be received by August 29, 2023 to receive early registration discount.
Our cancellation policy is intended to keep costs low for attendees. Due to financial obligations incurred by ACFE, Inc., you must cancel your registration prior to the start of the event. Cancellations received less than 14 calendar days prior to an event start date are subject to a $100 administrative fee. No refunds or credits will be given for cancellations received on or after the start date of the event. Those who do not cancel and do not attend are responsible for the full registration fee. Should an event be cancelled or postponed by the ACFE due to unforeseen circumstances, the ACFE will process a full refund of registration fees within 30 days of such circumstances becoming known. The ACFE will attempt to notify affected customers by phone and email after it determines cancellation is necessary.
ACFE events are unmatched in scope and effectiveness and backed by our unconditional satisfaction guarantee. If you attend an ACFE event and are not completely satisfied, please contact an ACFE Member Services Representative at MemberServices@ACFE.com or call (800) 245-3321 / +1 (512) 478-9000.Terms and Conditions
The Association of Certified Fraud Examiners, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.