Fraud-Free Finance - Accounts Payable, P2P, Employee Reimbursement & Whistleblower Program

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Webinar Topics:

Accounts Payable Fraud - Detecting and Preventing AP Fraud
Procurement Cards (P-Cards) - Fraud Detection, Prevention, and Deterrence
Employee Expense Reimbursement Fraud: Detection, Prevention and Deterrence
Implementing a Whistle-Blower Program - Detecting and Preventing Fraud at Workplace

Module 1 : Accounts Payable Fraud - Detecting and Preventing AP Fraud (Duration: 90 Minutes)
Instructor: Peter Goldman

Areas Covered in the Webinar:

COMMON TYPES OF AP FRAUD TODAY

• Vendor/billing fraud schemes
• Check fraud and tampering
• ACH fraud
• Fraudulent AP financial reporting
• Kickbacks/bribery
• Conflicts of interest
• P-Card fraud

RED FLAGS OF AP FRAUD

• Conducting a Fraud Risk Assessment and Recognizing the Red Flags of Internal Fraud
• The Fraud Risk Mitigation Cycle
• Implementing an organization-wide system for detecting, preventing and investigating fraud

FRAUD DETECTION

• How Frauds Are Most Often Detected
• Additional General Detection Methods
• Data Mining/Analytics for fraud detection
• Examples of Fraud Audit Techniques at Work

ANTI-FRAUD CONTROLS FOR AP

• Internal Controls and Other Fraud Prevention Measures:
• Who Should Manage Anti Fraud Activities for AP
• Internal Controls: Do's and Don'ts
• General controls: Segregation of Duties, Delegation of Authority, Background Investigation
• Specific AP Operations-Level Controls.

Module 2 : Procurement Cards (P-Cards) - Fraud Detection, Prevention, and Deterrence (90 Minutes)
Instructor: Chris Doxey

Areas covered in this session:

• 2012 P-Card Statistics.
• P-Cards, T&E Cards, Corporate Credit Cards, and Payment Cards.
• Why companies implement a P-Card Program.
• Introduction to Fraud Awareness.
• The Red Flags of P-Card Fraud.
• Preventing P-Card Fraud: The Top Five Controls
• Your P-Card Internal Control Toolkit.
• Case Study: A Case of P-Card Fraud.
• Q & A.

Module 3 : Employee Expense Reimbursement Fraud: Detection, Prevention and Deterrence (90 Minutes)
Instructor: Peter Goldman

Areas Covered in the Webinar:

INTRODUCTION

• Statistical overview of the fraud problem generally, and T&E fraud specifically.
• Who commits fraud.
• Why employees commit fraud (The Fraud Triangle).
• Lessons from T&E fraudsters.

COMMON TYPES OF EXPENSE REIMBURSEMENT FRAUD TODAY

• Falsifying T&E reimbursement schemes w/ bogus receipts.
• Submitting T&E claims multiple times.
• Abuse of corporate/P-card for personal gain.
• Claiming for expenses just under the limit requiring approval.
• Purchasing more than needed (e.g. office supplies).
• Exploiting AP/Disbursements control weaknesses.
• P-Card fraud.

RED FLAGS OF AP FRAUD

• Specific red flags of each of the common expense reimbursement frauds.
• The Fraud Risk Mitigation Cycle.
• Implementing an organization-wide system for detecting, preventing and investigating fraud.

FRAUD DETECTION

• How T&E Frauds Are Most Often Detected.
• Additional General Detection Methods.
• Data Mining/Analytics for fraud detection.
• Examples of Fraud Audit Techniques at Work.

ANTI-FRAUD CONTROLS FOR EXPENSE REIMBURSEMENT FRAUD

• Internal Controls and Other T&E Fraud Prevention Measures:
• Who Should Manage Anti Fraud Activities.
• Internal Controls: Do's and Dont's.
• General controls: Segregation of Duties, Delegation of Authority, Background Investigation.
• Specific Expense reimbursement controls and deterrents.

Module 4 : Implementing a Whistle-Blower Program - Detecting and Preventing Fraud at Workplace (90 Minutes)
Instructor: Richard Cascarino

Areas Covered in the Webinar:

• The importance of Whistle-Blowing.
• Identifying critical success factors.
• Choosing reporting mechanisms.
• Training reporting monitors.
• Creating policies and procedures
• Publicizing the reporting mechanism.
• Legal considerations in implementing a Whistle-Blowing.
• Internal audits' role in utilizing Whistle-Blowing information.

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