• Session 1: Procurement Overview
  
• Session 2: Situation Audit of Procurement Functions
  
• Session 3: Introduction to Fraud in General
  
• Session 4: Fraud Modus Operandi in Procurement
  
• Session 5: Fraud in Contracting
  
• Session 6: Tell-tale signs of Procurement Fraud & Control Measures
  
• Session 7: Tools to Deter Fraud in Procurement
  
• Session 8: Fool-proofing Procurement from Fraud

According to the Association of Certified Fraud Examiners (ACFE), businesses lose up to 5% of their revenue, amounting to $3.7 trillion worldwide to fraud each year.

Combating fraud in procurement is complex and challenging. It requires continuous focus on policies, training, and internal controls. With myriad new technologies being deployed in organizations, sufficient controls are needed. Further, with hybrid work environment new forms of risks need to be addressed speedily.

While efforts to combat fraud through effective policies, training, internal controls, and monitoring have helped organizations over the years, these may not be enough in the future as new, more impactful threats are on the horizon challenging the organizations’ perimeters. External fraudsters are emerging as a bigger threat.

A study by PwC’s Global Economic Crime and Fraud Survey, 2022, found that nearly 70% of organizations experiencing fraud reported that the most disruptive incident came via an external attack or collusion between internal and external sources. While internal fraudsters are subjected to fraud prevention tools such as codes of conduct, training and investigations, external fraudsters are largely immune to such measures.

Procurement fraud can occur at any phase of the procurement process. Right from the need’s establishment and initiation to delivery and payment for goods and services. Establishing a need typically includes specification and defining the scope of work to be performed followed by a bidding process and the creation of purchase orders; the delivery process includes the receiving and inventory functions; and the payment process encompasses the actual disbursement of funds. Procurement malpractices are usually perpetrated by contractors, third party sub-contractors, and, at times, might also involve inhouse staff.

This course is designed to provide a good understanding of how to combat procurement fraud through a revisit of procurement policies, internal control measures and the global trend in mitigating fraud risks through the aid of technology.

1. Knowing how to gauge the risk exposure of your procurement department to fraudulent activities.
   
2. Knowing how to detect possible fraudulent activities in the procurement environment.
   
3. Taking appropriate measures in identifying, detecting, preventing, and monitoring of
   controls systems
   
4. Being able to test the existing triggering mechanisms and red-flags as proactive
   warning signals.
5. Developing red-flags and organizational readiness to avert possible fraudulent acts.
   
6. Developing investigation methodologies and procedures that would ensure
   culprits do not escape punitive actions.
   
7. Using modern technology tools to avert and detect potentially fraudulent activities
   in procurement.
   
8. Being able to analyse the mind of a fraudster and the types of fraudsters to be aware of.
   
9. Making your procurement process fool-proof from fraudulent initiatives
   
10. Developing a best in-class hybrid procurement function for the current environment

Chief Finance Officers, Accountants, Chief Operating Officers, Chief Procurement Officers, Directors, Senior Executives, Operational Directors and Managers, General Managers, Senior Managers, and all middle ranking Managers and Executives in:
• Procurement/ Purchasing
• Finance
• Internal Audit
• Operations
• Contract Management
• Project Management
• Fraud Investigation & Management
• Risk Management
• Legal/ Compliance
• Commercial

From all industries and retail operations such as:
Energy & Utilities, Oil and Gas, Mining, Engineering & Construction, Transport & Logistics, Banking and Finance, Government, Healthcare, Telecommunications, Manufacturing, Agriculture, Food Manufacturing, Retail and many others.

• Interactive Lectures
  
• Case Studies
  
• Group Discussions
  
• Questions & Answers