Webinar On Procure-to-Pay Fraud: Detecting and Preventing Purchasing, Receiving and Disbursement Fraud

Overview:

Procure to pay is the target for fraudsters of many kinds both inside and outside your organization. Consider the possibility of receiving a perfectly legitimately-looking invoice which gets approved and processed before it is determined that the sender of the invoice is a "ghost" vendor with nothing more than a postal box for an address.

Or-the case of the large retailer whose Accounts Payable department honored the E-mail request of a "vendor" to switch from check payment to ACH payment, only to learn several millions dollars in fraudulent payments later, that the sender was a fraudster.

The variety of frauds that can and do plague the three components of the P2P cycle-Purchasing, Receiving and Disbursement-is large and growing. The good news is that with adequate awareness of the threat and the means and expertise to detect weaknesses in internal controls, a very effective prevention framework can be built..and maintained.

This Webinar is designed to provide a foundation of current knowledge about P2P fraud threats -as a foundation for understanding the specific "how-to's" of P2P fraud detection and prevention. 

Why should you attend:

 Because most of the funds flowing out of any organization do so through the procure-to-pay cycle (P2P)-incorporating purchasing, receiving and accounts payable/disbursements--it stands to reason that much of the growing fraud threat is centered on these critical, closely-linked business functions.

This shows the urgent need for management to understand the wide variety of frauds in P2P and to apply the necessary detection, audit, reporting, training and prevention measures. 

Areas Covered in the Session:

• Understand how common procurement, receiving and disbursement frauds are perpetrated
• Understand who the primary perpetrators of purchasing, receiving and disbursement fraud are
• Understand why purchasing, receiving and accounts payable employees commit fraud
• Learn how not to manage P2P from important case studies of frauds committing in this area
• Recognize the red flags of common P2P frauds
• Know how to apply best P2P fraud detection tools and techniques
• Learn to correct P2P control deficiencies in favour of a robust anti-fraud control framework

Who Will Benefit:

• Purchasing Managers and Senior Staff
• Accounts Payable Managers
• Shipping and Receiving/supply chain Managers
• Accounting and Audit Practitioners
• CFO's and Senior Finance Staff
• Internal and External Audit Professionals
• Senior Financial Management seeking to reduce their vulnerability to costly frauds