Course Information
Contract and Procurement Fraud (OFFERED VIRTUALLY)
Course Description
THIS COURSE WILL BE HELD VIRTUALLY. Class times will be 8:00 a.m. to 2:00 p.m. each day.
This course explores fraud exposures in contracting and procurement and why such fraud can be so difficult to detect and respond to. Attendees will learn specific steps to reduce exposures to contract and procurement related fraud and discover practical approaches and proven techniques used to detect and investigate it. This course is highly interactive, combining participative lecture with exercises to reinforce the learning objectives.
Course Objectives
Upon completion of this course, participants will be able to:
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Address challenges related to contract and procurement fraud.
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Assess and enhance the environment, policies, codes and practices.
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Recognize fraud exposures and symptoms related to contracting & procurement.
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Apply methods used to build fraud detection into routine audit practices.
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Apply behavioral red flags to contracting and procurement.
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Understand the impact of excessive gifts and entertainment.
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Understand and address kickbacks and pay to play.
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Know how contractors fix prices and rig bids.
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Address procurement card exposures.
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Use data analysis to surface contract and procurement fraud.
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Understand what a complete investigation includes.
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Know methods used to prove kickbacks.
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Apply practical approaches to responding to suspected wrongdoing.
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Work with management to deter fraud in procurement and contracting.
Introduction to Contract & Procurement Fraud
Common exposures in purchasing
Fraud-related dangers to avoid
A model for controlling contracts
What can go wrong by phase
Understanding and Shaping Your Environment
Policies, codes and practices
Executive example
Whose job is it? Defining and communicating expectations
Lessons from government cases
Gifts and entertainment policy and practices
Auditing contractors and vendors – roles and opportunities
Areas Meriting Additional Consideration
Kickbacks and bribery
Pay to play and corruption
Procurement outside of traditional procurement
Bidding and sole sourcing
Procurement cards
Fraud implications of cost issues
Blanket purchases
Minority and disadvantaged business programs
Detecting Contract & Procurement Fraud
Why contract and procurement fraud goes undetected
The Five-Step Approach to Fraud Detection
Contract and procurement fraud exposures
Symptoms and "red flags" of fraud occurrence
Applying the Five-Step Approach to your environment
Using data analysis to detect contract and procurement fraud
Suggestions for auditing purchasing
Responding to Suspected Wrongdoing
What a complete investigation should include
Proving wrongdoing in contract and procurement fraud
An investigative checklist
Case studies and exercises
Preventing Fraud
A step-by-step approach to prevention
Working with management to deter procurement fraud
Instructors
Courtenay Thompson is a recognized authority on training managers, auditors and investigators in fraud-related matters. He has designed and presented courses on fraud prevention, detection and investigation for business and government organizations worldwide. His courses are known for providing practical, proven approaches to real problems. These practical approaches have yielded dramatic results for class attendees.
In addition to fraud-related programs, Mr. Thompson provides training on audit interviewing, improving personal and professional effectiveness, behavior and communication skills, leadership and auditing contracts. For 13 years, Mr. Thompson was editor of "Fraud Findings" in The Internal Auditor magazine.
Prior to entering the consulting field, Mr. Thompson's experience in public accounting and internal auditing provided exposure to a number of types of impropriety including embezzlement, insurance fraud, loan fraud, stock fraud, kickbacks and bribery, misappropriation of funds and mail fraud. In additional to personally detecting and investigating suspected fraud cases, he established corporate policies for fraud and trained other auditors in fraud detection and investigation. Responsibilities included working with top management and reporting to the audit committee on the status of open cases. He has worked closely with legal counsel, law enforcement and prosecutors.
Additional Information
TAC Rule 523.142(g) requires the CPE Sponsor to monitor individual attendance and assign the correct number of CPE credits. Participants will be asked to document their time of arrival and departure in compliance with this Rule. Additionally, attendance will be monitored throughout the day and CPE certificates will reflect actual attendance of each participant.