The Purchasing and Accounts Payable cycles create a multitude of data that can be analyzed and tested for certain elements of possible 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 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.
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 webinar will provide you with a basic understanding of Fraud, 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.
Areas Covered in this Webinar:
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)
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
Who Will Benefit:
Internal Audit Personnel involved in fraud related activities
Internal Audit Management interested in performing anti-fraud audits of Accounts Payable and Purchasing Cycles
Professionals responsible for or interested in performing anti-fraud audits
Risk/ Compliance Officers in any industry
Marna Steuart has been in the audit industry for over twenty years. Ms. Steuart began her career with a Big Four firm as an external auditor, then as an internal auditor in several different capacities within several different industries. Ms. Steuart has performed internal audits, consulting engagements, vendor contract audits, collective bargaining contracts, construction contract audits of several third-party contracts and confidential investigations throughout her career as an internal auditor. She has first-hand knowledge of how to perform each type of audit and how to build an effective audit manual for all types of audits.
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