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Contract and Procurement Fraud (OFFERED VIRTUALLY)

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Date(s): Aug 24, 2020 - Aug 26, 2020
Time: 8:00AM - 2:00PM
Registration Fee: $399.00
Cancellation Date: Apr 28, 2020
Location: Online

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.


Potential CPE Credits: 16.0
Govt Hours: This class meets 16.0 hours of the 24-hour requirement for governmental CPE under Government Auditing Standards (yellow book), in most cases.
Technical Hours: This class meets 16.0 CPE credits of technical training in compliance with Texas Admin. Code Rule 523.102.

Instruction Type: Live
Experience Level: BEGINNING
Category: 02 Auditing

Course Objectives

Upon completion of this course, participants will be able to:

  • Address challenges related to contract and procurement fraud.
  • Assess and enhance the environment, policies, codes and practices.
  • Recognize fraud exposures and symptoms related to contracting & procurement.
  • Apply methods used to build fraud detection into routine audit practices.
  • Apply behavioral red flags to contracting and procurement.
  • Understand the impact of excessive gifts and entertainment.
  • Understand and address kickbacks and pay to play.
  • Know how contractors fix prices and rig bids.
  • Address procurement card exposures.
  • Use data analysis to surface contract and procurement fraud.
  • Understand what a complete investigation includes.
  • Know methods used to prove kickbacks.
  • Apply practical approaches to responding to suspected wrongdoing.
  • 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

 


Prerequisites

No prerequisites required.

[GAGAS, 4.23(u)]

Participants will need internet connection, computer/tablet, microphone and speaker to participate in this online course.


Instructors

Courtenay Thompson

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.

Courtenay Thompson received his BBA and MBA degrees from Southern Methodist University and is a Certified Public Accountant.  He is a member of The Institute of Internal Auditors, Inc.

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.


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