Fraud is growing by a staggering 20% per year, according to the respected international fraud investigation firm, Kroll. The majority of all fraud, according to the Association of Certified Fraud Examiners is committed by employees.
For many organizations, procure-to-pay cycle offers extensive opportunity for increased operational efficiency. However, it also provides potentially numerous opportunities for fraudsters to exploit control deficiencies in all three stages—purchasing, receiving and disbursements.
One common management mistake in the P2P cycle is adhering to a reactive anti-fraud posture. A criminal act committed in, for example, the purchasing department through a kickback scheme, may be detected and dealt with on an “emergency” basis. Meanwhile, equally, if not more costly frauds may be going unnoticed in the receiving and account payable areas.
This underscores the urgent need for management to understand the vast variety of frauds in P2P and to apply the necessary detection, audit, reporting and prevention measures.
By attending this webinar Participants will be able to:
Physical CD-USB of recorded session will be despatched after 72 hrs on completion of payment
Peter Goldmann, has 25 years of experience as a business journalist and trainer, having launched, edited and published numerous business trade periodicals covering small business, international trade, management strategy, banking and personal finance. He is a Certified Fraud Examiner (CFE) and a member of the Editorial Advisory Committee of the Association of Certified Fraud Examiners (ACFE) as well as an active member of the Institute of Internal Auditors, the High-Tech Crime Investigation Association and the IOFM Controller Certification Advisory Board. He is a regular columnist for the ACFE’s newsletter, The Fraud Examiner and is a frequent contributor to other leading industry publications on anti-fraud topics. He has appeared on Fox Business News, The Wall Street Journal This Morning, The New York Times and Internal Auditor magazine. Peter Goldmann is president of White-Collar Crime 101 LLC, the publisher of White-Collar Crime Fighter, a widely read monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud investigators. Peter is the author of Fraud in the Markets: Why it happens and How to fight it, published by John Wiley & Sons, as well as four other anti-fraud books. Peter also developed FraudAware, the leading fraud awareness training program. A user-friendly learning tool, FraudAware uses workshop, Webinar and E-Learning formats to educate employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct.