Course details
OverviewThe rise in contract management and the outsourcing of goods and services have created an increase in procurement fraud, which can occur in any stage of the contracting and procurement process. Appropriate controls, fraud prevention strategies and proper tendering processes are necessary in the fight against this fraud. This 2-day course will teach you the best practices in preventing, detecting, and investigating contract and procurement fraud.
Organizations can be defrauded through collusion among bidders, between employers and contractors, and by sole procurement employees. Consequently, you need to be aware of the vulnerabilities and risks associated with fraud schemes that attack the purchasing, procurement, and contract functions. Acquire the knowledge, skills, and techniques you need to prevent, detect and deter these devastating frauds and join the course Contract and Procurement Fraud!
Objective
- Determine if a procurement scheme violates legal statutes or civil laws
- Identify the red flags of bribery and corruption
- Recognize bid-rigging and market-allocation schemes
- Reduce the risk of vendor fraud
- Develop an investigation plan to respond to suspected procurement fraud
Who Should Attend
The 2-day course about contract and procurement fraud is meant for: Certified Fraud Examiners (CFEs) and other anti-fraud professionals; government procurement officers; internal and external auditors; professionals seeking knowledge of fraud in the procurement process; forensic and management accountants, accounts payable and financial analysts; controllers and corporate managers; governance, risk management and compliance officers; attorneys, legal professionals and law enforcement personnel; detectives (GRC) and private investigators.
Outlines
DAY 1
The procurement process
- Public versus private procurement
- Methods used to acquire goods and services
- Four phases in the procurement (tendering) process
- E-procurement
- Employees involved in the purchasing process
- Civil actions
- Administrative actions
- Penalties and legal remedies
- Principal criminal violations in procurement
- Principal civil violations in procurement
- Bribery
- Kickbacks
- Bid rigging schemes
- Market division
- Preventing bid rigging, market allocation, and other types of collusion
- Need recognition
- Bid tailoring
DAY 2
Fraud in procurement without competition
- Unjustified sale-source awards
- Purchases for personal use
- Bid splitting
- P-card schemes
- Petty cash abuse
Performance schemes
- Invoicing schemes
- Nonconforming goods or services
- Change order abuse
- Cost mischarging
- Commingling of contracts
Vendor management
- Vendor due diligence
- Managing vendor risks via contracts
- Risk of shell companies
Detection and prevention
- Instituting an ethics and compliance program
- The principles of fraud risk management
- Establishing a procurement fraud detection and prevention program
- Step one: conduct a fraud risk assessment
- Step two: develop a tailored anti-fraud program
- Step three: establish a response plan
Investigating procurement fraud
- Develop an investigation plan
- Investigating procurement fraud schemes
Job roles this course is suitable for:
anti-fraud professionals , government procurement officers , auditors , professionals , forensic management accountants , accounts payable , financial analysts , corporate managers , risk management , legal professionalsAbout AiinoX
AiinoX is a leading provider of AI training solutions, offering a comprehensive curriculum designed to cater to a wide range of learners. Our mission is to bridge the AI skills gap by providing accessible, high-quality training that empowers individuals and businesses to:- Understand the core concepts of AI and its applications.
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- Gain a competitive edge in the AI-driven marketplace.
We are committed to delivering exceptional learning experiences through:
- Expert-Led Instruction: Our team of experienced and passionate instructors comes from diverse AI backgrounds, ensuring you receive the latest knowledge and industry insights.
- Interactive Learning: We go beyond theory, incorporating practical exercises, case studies and hands-on learning activities to solidify your understanding.
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AiinoX offers a comprehensive range of AI training courses designed to cater to all levels of expertise. Whether you are new to AI or a seasoned professional, we have a programme to help you achieve your learning goals.
Headquartered in London and Amsterdam, AiinoX is committed to shaping the future of AI through practical and quality education.
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