Procurement Fraud Prevention

Available Online, Public or In-House Training

The broad objectives of scrupulousness in procurement relate to the integrity and honesty in procurement transactions. The accountability; sustenance of integrity; ensuring compliance with processes; maintaining supplier confidence in the organization’s processes; minimizing potential conflicts; all offers being evaluated against the same criteria; ensuring the procurement activity provides the best outcome; and avoiding potential for misconduct, fraud and corruption. Procurement fraud can be one of the more complex frauds to investigate; there are numerous ways it can be committed and, when investigating it, all options need to be considered.

A simple definition of procurement fraud would be ‘fraud within the procurement lifecycle of a product or service, not forgetting long-term maintenance contracts’. Many frauds committed fall within the banner of procurement fraud as most companies obtain products or services through some form of procurement exercise.

This Procurement Fraud Workshop will help Participants increase their knowledge base and skill sets through a variety of instructional methods including lecture by an experienced practitioner and consultant who has “been there-done that”, cases, review of published articles, and group discussions covering current practices and their relationship to the implementation of new concepts in fraud Risk Management.

This workshop is suitable to a wide range of professionals but will greatly benefit:

  • Those involved in purchasing, albeit as supplier, buyer, materials planner, finance or even end-customer
  • Supervisors, Professionals and staff in the organization who are responsible for overseeing the purchasing function

Rationale and principles of Procurement Management

  • Definition and understanding Procurement and purchasing
  • Critical Supply Strategies – the unnecessary need for RFQs
  • Definition of Category Management to facilitate Procurement
  • Models used in Category Grouping Strategy
  • Developing Spend Profiles and the ABC Analysis
  • Skill sets For Purchasing of the future

Implementing Internal Controls to Reduce Fraud Risk

  • Principles and standards of purchasing practice
  • Developing, monitoring and evaluation systems – generating critical reports
  • Identification and the prevention of Procurement Fraud
  • Developing Company Purchase Price Index
  • Developing Key Performance Indicators (KPI) For Procurement
  • Ethics and codes for purchasing personnel

Improving the Image of Procurement

  • The Most Common Procurement Fraud Schemes and their Primary Red Flags
    • 6 common procurement fraud schemes
  • The seven global procurement fraud challenge
  • Procurement frauds and its effects
  • Basic Issues in Corruption and Fraud Prevention
  • 10 ways to control procurement fraud
  • Increasing the Level of Procurement Professionalism
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