Preventing and Detecting Different Types of Procurement Fraud
Procurement fraud can occur in many ways. It can occur through departmental purchasing of goods and services, as well as through contractual arrangements with external service providers. The current COVID-19 pandemic and companies adapting their operations to enable staff to work from home can further give rise to more opportunities for fraud to be committed against the company.
Procurement fraud can be committed by not only vendors, but also by employees, as well as collusion between vendors and employees. It is therefore extremely crucial that your company support appropriate managerial and supervisory staff in acquiring relevant knowledge and techniques to design and put in place appropriate internal controls to safeguard limited resources from unnecessary abuse and fraud.
Join us for this 2-day training and coaching to increase your staff’s competency in helping your company to prevent and reduce unnecessary financial losses caused by procurement fraud.
Key Facts
- Start Date: 17 July 2023
- Duration: 2 days, 9.30am-4.30pm
- Delivery Mode:
- On campus (Face-to-face training)
- Fees:
S$1156.00* (Incl. of 9% GST)
- Procurement professionals (managers and supervisors)
- Finance professionals, especially accounts payables
- Internal auditors
- Risk managers
- Internal controls and compliance professionals
- Mini lectures
- Group discussion, sharing and presentation
- Case studies discussion and application
- Questions and answers session
- Gain an understanding of the procurement function’s vulnerability to fraud
- Explore different kinds of common procurement fraud schemes that occur in a typical organisation
- Identify the different effective deterrent and preventive measures to help reduce the occurrence of procurement fraud
- Learn about practical tools and techniques to monitor and detect the occurrence of various procurement fraud schemes
Upon successful completion of the Programme, participants will be awarded a verified digital certificate by London School of Business and Finance, Executive Education.
Course Outline
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Introduction to the procurement process and procurement fraud
◆ Understanding the sub-processes of the procurement process ◆ Why is the procurement function vulnerable to fraud? ◆ Where and when can procurement fraud happen? ◆ Consequences of procurement fraudExpand -
Different types of common procurement fraud schemes
◆ Bribery and corruption ◆ Fraud in bidding process ◆ Unjustified sole source ◆ Split purchase ◆ Change order abuse ◆ False invoices and phantom vendorsExpand -
Deterring, preventing, and detecting procurement fraud
◆ Procurement fraud deterrents ◆ Data analytics and visualisation ◆ Other mechanisms to monitor and detect different types of procurement fraudExpand
◆ Understanding the sub-processes of the procurement process
◆ Why is the procurement function vulnerable to fraud?
◆ Where and when can procurement fraud happen?
◆ Consequences of procurement fraud
◆ Bribery and corruption
◆ Fraud in bidding process
◆ Unjustified sole source
◆ Split purchase
◆ Change order abuse
◆ False invoices and phantom vendors
◆ Procurement fraud deterrents
◆ Data analytics and visualisation
◆ Other mechanisms to monitor and detect different types of procurement fraud
Case studies discussion
Questions & Answers session addressing participants’ practical challenges
Request More Information
Contact a programme advisor by calling
+65 6580 7700