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Managing Fraud Risks in Procurement & Contracting
Feb 25, 2019 / 8:00 am
Monday, February 25, 2019
11 AM EASTERN (9 AM Mountain / 8 AM Pacific)
2.0 Continuing Professional Education (CPE) credits in Accounting
All business areas have fraud risks. But the very nature of procurement and third-party contracting relationships creates opportunities for things to go wrong and remain undetected. Among the many risks that must be managed is the possibility that the supplier or contractor will take unfair advantage of the relationship and commit wrongful acts – including fraud!
This program will address the fraud risks inherent in procurement and contracting, and will provide solutions for auditors, managers and executives for use on the job to help prevent, promptly detect, and efficiently handle procurement and contracting fraud and wrongdoing exposures.
In this program, you’ll benefit from learning:
- Common fraud risks in procurement and contracting
- Red flags, indicators and symptoms in procurement and contracting
- Risks in setting specifications, bidding, awarding contracts and monitoring the work
- Exposures in billing and work change order pricing
- Diffusing “Cost is what I tell you cost is!” and other supplier arguments
- The importance of management oversight – even with long-term suppliers
- Effective control steps and behaviors for procurement and contracting
- Why, how and when to conduct “Vendor Assurance Reviews”
CPE Credits: 2.0
Delivery Method: Group Internet-Based (On-Line Education Webinar)
Advance Preparation: Knowledge of business procurement & contracting
Program Level: Intermediate
NASBA Field of Study: Accounting