Proper Audit Analysis for Procurement and Accounts Payable Fraud

NEW HYDE PARK, N.Y. - April 16, 2015 - PRLog -- Overview

The Purchasing and Accounts Payable cycles create a multitude of data that can be analyzed and tested for certain elements of possible report fraud.  Accounts Payable is considered the “checkbook” of the organization and therefore creates an area that without the proper control environment can be ripe for fraud.  Internal Audit training organizations have the ability to spend resources to analyze the data that comes out of the process to enable the organization to feel comfortable that controls are in place and functioning properly or that there may be fraud occurring.  There are simple ways to analyze large volumes of data that come from paying invoices.  Understanding the data is the first step towards knowing what to look for. The course will spend some time discussing the use of Audit Control Language (ACL) and how this tool and other tools like it (IDEA) are helpful in the analysis of Accounts Payable and Purchasing data.

Why Should You Attend

With an increased awareness of fraud and the ongoing cost to organizations, taking a proactive stance on performing anti-fraud audits in Purchasing and Accounts Payable is imperative to most organizations.  According to the Association of Certified Fraud Examiners (ACFE) “Report to the Nations on Occupational Fraud and Abuse” published in 2012, it predicted that 5% of an organization’s revenue is lost to fraud.  This course will provide you with a basic understanding of Fraud detection, different data analysis that can be utilized, proactive accounts payable Anti-Fraud examples of reviews that can be conducted and different data analysis tests that can be performed. Some knowledge and use of ACL or IDEA is suggested but not required.

Areas Covered in the Session

The Fraud triangle and statistics from the ACFE
A basic understanding of fraud and the different types of fraud that can occur
Understanding the data that A/P or IT can provide for analysis
Different data analysis tools  that can be utilized (ACL vs. IDEA or just Excel)
Examples of proactive accounts payable anti-fraud reviews
Different data analysis tests that can be performed on accounts payable data
Different data analysis tests that can be performed on purchasing data

Learning Objectives

To understand how to perform anti-fraud audits in the purchasing/accounts payable cycle and different tools that can be utilized to perform them.

Who Will Benefit

This webinar will provide valuable assistance to all personnel in:

Internal Audit procedures personnel involved in Fraud related activities
Internal Audit Management
Professionals responsible for performing anti-fraud audits
Risk/Compliance Officer in any industry

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