Detecting And Preventing Accounts Payable Fraud

  • Accountant
  • CPA (CA)
  • CRMA
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CPA (US)
  • CVA
  • CA - ICAEW
  • ACCA
  • MAFF
  • CTP
  • CBA/MCBA
  • CA - Ireland
  • CA - Scotland
  • CPA - Ireland
  • CFIRS
  • CWS

Published: November, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Fraud: The Big Picture
    2 mins
  • External AP Fraud Category 2: Financial Fraud
    10 mins
  • Vendor Master File Fraud
    19 mins
  • Red Flags Kickbacks
    31 mins
  • Preventing A/P Fraud
    42 mins

Course Description

Accounts Payable (AP) is the one business function that, in many organizations, is more vulnerable to fraud than any other. That is because all funds that flow out of the organization must first pass through AP. And over time, dishonest insiders and vendors have created newer and craftier methods of stealing from organizations by exploiting control weaknesses in the AP function.

Result: It is more important than ever for management to allocate professional and financial resources to eliminating these control weaknesses. This almost always starts with learning about the types of AP fraud that can victimize your organization. It is then necessary to determine which controls are already in place to prevent such crimes. From there, internal audit plans can be adjusted to include tests and methodologies for identifying the red flags of possible AP fraud. This enables management to initiate further examination of suspicious findings and ultimately to apprehend offenders and remediate control weaknesses.

This CPE webinar will guide you through each of these critical steps, leaving you with practical “how-to” guidance for minimizing your organization’s exposure to AP fraudsters with the following key topics:

This online webinar will emphasis on following key topics:

  • Statistical overview of the fraud problem
  • Who commits fraud  
  • Lessons from AP fraudsters
  • COMMON TYPES OF AP FRAUD TODAY
  • Vendor/billing fraud schemes
  • Check fraud and tampering
  • ACH fraud
  • AP-vendor collusion
  • Vendor Email Compromise (VEC)
  • Kickbacks/bribery
  • Conflicts of interest
  • FRAUD DETECTION
  • How to Identify the Red Flags of AP fraud schemes 
  • Additional General Detection Methods 
  • Data analytics and automated auditing  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: Dos and Don’ts
  • General controls: Segregation of Duties, Delegation of Authority, Background Investigation
  • Specific AP Operations-Level Controls.


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Learning Objectives

  • To explore the “mechanics” of the most commonly committed AP frauds
  • To implement effective AP fraud detection techniques and implement automated audit practices to detect red flags of AP fraud
  • To explore how to implement best-practice Anti-Fraud Control strategies for AP
  • To advise management on fraud risk mitigation through transaction monitoring, technology/information technology tools and low-cost internal controls
  • To recommend better anti-fraud management structure (Board of Directors/Executive Management, Line Management, Compliance, General Counsel, etc.)

Recommended For

  • This Online CPE webinar on Auditing is recommended for CPAs, CMAs, CFEs, CFF, CIA, CRMA, CVA, and other professionals who desires to help prevents Accounts Payable fraud
  • This Online CPE webinar is also recommended for CPAs in Canada who wants to help their clients better manage the internal control for Accounts Payable

Who Should Attend?

  • Accounting and audit managers/practitioners
  • AP managers
  • Auditors
  • Certified Fraud Examiner
  • Certified Management Accountant (CMA)
  • Certified Valuation Analysts
  • CFO/Controller
  • Compliance and ethics managers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Procurement managers and staff
  • Security personnel
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CPD Credit of Auditing for Chartered Professional Accountant (CPA Canada)
  • 1 CPE Credit of Fraud for Certified Valuation Analyst (CVA)
  • 1 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 1 CPE Credit of Fraud risks for Certified Internal Auditors (CIA)
  • 1 CPE Credit of Fraud Risk Assessment for Certified Fraud Examiner (CFE)
  • 1 CPD Credit of Fraud prevention, detection and response for Certified Financial Forensics (CFF)
  • 1 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 1 CPE Credit for Master Analyst In Financial Forensics (MAFF)
  • 1 CPE Credit of Fraud for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper
  • 1 CPD Credit for CA - ICAEW
  • 1 CPD Credit for Chartered Certified Accountants (ACCA)
  • 1 CPD Credit for Chartered Accountants - Ireland (CAI)
  • 1 CPD Credit for Chartered Accountants - Scotland
  • 1 CPD Credit for CPA - Ireland
  • 1 CPE Credit for Certified Government Financial Manager (CGFM)
  • 1 CRE Credit of Detect and mitigate fraud for Certified Treasury Professional (CTP)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Peter Goldmann

President, FraudAware

Peter Goldmann is president of FraudAware 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.

FraudAware courses, which are customized for individual corporate, non-profit and government agency clients, reinforces organizations’ whistleblowing programs by enabling employees to detect fraudulent activity that can then be reported to supervisors or managers or by using the organization’s confidential hotline in accordance with established policy.

In addition, Peter has conducted numerous on-site fraud detection and prevention workshops for internal auditors, attorneys, HR executives and compliance officers at Fortune 500 companies and large not-for-profit organizations. He has also been a guest lecturer for college accounting and auditing courses.

He is also the developer of a series of fraud detection and prevention Webinars co-presented with numerous webinar sponsoring organizations. These Webinars cover auditing for accounts payable fraud, auditors’ responsibility for detecting and preventing fraud, detecting and preventing business expense fraud, protecting against social media fraud and others.

Peter 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 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, and the International Association of Financial Crime Investigators (IAFCI).

He has been 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 holds a Bachelor’s degree from the University of Michigan and a Master’s from the London School of Economics


Faq

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