Contract and Procurement Fraud

Friday, February 07, 2025
Webcast or Webinar, Online
3:00 PM - 4:20 PM (opens at 2:30 PM) EST
2Credits
Accounting and Auditing

Registration is Open

Members
$79.00 Regular Price
Non-Members
$109.00 Regular Price

CPE PowerPass Users

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$40.00 Members / $56.00 Non-Members
Course Type: Webcast
Course Code: 24/AC662141
Level: Basic
Vendor: ACPEN
Field of Study: Auditing, Accounting

Overview:

This session will focus on the most common types of fraud in the procurement and contracting arena, with a focus on fraud in construction.  The session will examine fraud vulnerabilities in the four key phases of the procurement process:

  • Presolicitation.
  • Negotiation.
  • Performance.
  • Closeout and Claims. 

Within each phase, “red flags” will be discussed.  These are the indicia of possible fraud that managers should be alert for.  Also, within each phase, the most common fraud schemes will be highlighted and discussed.  Finally, the session will describe the generally accepted safeguards or controls that should be established to prevent the various fraud schemes that can occur.  This part of the program will make extensive use of actual fraud case studies designed to demonstrate fraud risks and fraud detection strategies.

Objectives:

  • The major procurement phases
  • Major procurement fraud schemes and red flags
  • Procurement fraud safeguards and controls
  • Contract and procurement fraud case studies

Major Topics:

  • Procurement phases
  • Fraud schemes
  • Fraud red flags
  • Fraud control activities and safeguards

Major Topics:

  • Procurement phases
  • Fraud schemes
  • Fraud red flags
  • Fraud control activities and safeguards

Designed For:

Accountants and auditors at all levels

Prerequisites:

None