Procurement Fraud Prevention and Detection Masterclass (In-House Training)Risk Management / ChatGPT

Introduction

Do you know fraud is ubiquitous, it does not discriminate in its occurrence? Fraud does not discriminate, not by industry, geography, races, ethnics, and education background. Procurement is the most vulnerable department in Asset Misappropriation Fraud.

Singaporeans are very concern with Bribery and Corruption when dealing with cross-border business and transactions. It is a fact that most payments to vendors are legitimate but, a portion of that could be fraudulent. Most corporations in the world agreed that the complexities of fraud have increased since the introduction of technology in business, moving from people fraud to e-crime (ACFE Reports to the Nations 2014).

Could Procurement Fraud happen to you? Are you prepared for this challenge? Are your organisation and its people ready and confident to protect your system from such a devastating act?

Key Takeaways

Upon completion of this workshop, participants will be able to;

• Understand and review the supply chain and procurement process for vulnerabilities and flaws, allowing opportunities for fraud
• Understand in-depth on the vast and various procurement fraud schemes
• Understand and Appreciate the Motivations of Fraud, among employees and people, in Fraud Deterrence
• Identify and Recognise Procurement Fraud Red Flags, exactly like how the forensic experts do
• Design and implement the control activities and actions, to reduce procurement fraud incidences effectively

Who Should Attend

• Internal Auditors
• Compliance Officers
• Accountants and Finance Professionals
• Business and Operational Managers
• Managers and Officers involved in Procurement and other Supply Chain Functions
• Academicians
• Strategic and Corporate Planners
• Corporate Lawyers and Legal Advisors

Programme Outline

• Introduction to Procurement Fraud
• The Procurement and Supply Chain Process
• Vast and Various Procurement Fraud Schemes
• Procurement Fraud Concealment
• Procurement Red Flags
• The Motivations of Fraud
• Procurement Risk Management
• Design Control Activities and Policies

Methodologies

Instructor-led Presentations with class exercises, group discussion, simulation exercises and case studies.

Programme Trainer

Sylvia Lim specialises in coaching, consulting and training on business risk management and fraud awareness. She has worked with the Big Four accounting firms, multinational corporations and local companies in Hong Kong and Singapore for over ten years.

During her career with PricewaterhouseCoopers Hong Kong, Sylvia has conducted numerous types of training programme on corporate governance, internal controls and anti-fraud to the directors of companies listed in Hong Kong. Besides, she was extensively involved in risk management, internal control, internal audit and Sarbanes-Oxley compliance projects in the Asia Pacific.