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According to the Association of Certified Fraud Examiners (ACFE) organizations lose 5% of revenue to fraud every year. Occupational fraud schemes involving vendors fall into the corruption and asset misappropriation fraud categories and comprise a significant amount of all fraud cases. Since choosing and paying vendors is an integral part of doing business, organizations dedicate significant financial resources to vendors. Employees can minimize financial loss and strengthen the ethical fabric of their organization by recognizing fraud red flags related to vendors. This training program will primarily focus on analytical and accounting red flags in
purchasing schemes, bid rigging, billing schemes, personal purchase schemes, product substitution and all other kinds of corporate fraud.
Key Learning Objectives
- Vendor Corruption Schemes - Types and How to Spot Them
- Vendor Asset Misappropriation Schemes - Types and How to Spot Them
- Collusion and the Combination of Corruption Schemes and Asset Misappropriation Schemes
- Behavioral Red Flags
- Lifestyle Red Flags
- Analytical and Accounting Red Flags
- Internal Control Weaknesses and Tips
- In Summary - Is it Fraud or a Red Flag?
- Real Cases
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Mary Schaeffer
Ms. Schaeffer is the author of 18 business books, a monthly newsletter, and a free bi-weekly e-zine, as well as several CPE courses for CPAs. She runs AP Now, a boutique publishing and consulting firm focused on accounts payable issues.
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