Fraud Prevention in Contracts & Purchasing

PROGRAM SUMMARY

The old saying “An ounce of prevention is worth a pound of cure” is particularly applicable to procurement activities where fraud and corruption can raise not only the costs and risks of doing business but also jeopardizes the reputation of the organization and even the safety of employees and the general public. This seminar is intended to focus on the extremely important issues of the prevention of fraud and corruption by employees and suppliers in contracting and purchasing activities.

PROGRAM PAYBACK

Upon completion of this seminar, participants will know:

• 15 stages in the procurement process where fraud can occur
• 60 types of internal fraud related to contracts and purchasing
• Professional standards of ethical and professional conduct
• Over 50 types of external fraud in contracts and purchasing
• Over 15 commonly defined causes of Corruption
• Using Anti-corruption policy statements & contract clauses
• 7 Major Steps in Effective Prevention
• 6 questions to assist in Fraud Detection
• Potential Warning Signs

WHO SHOULD ATTEND?

• Managers involved in projects, contracts, purchasing, operations, maintenance, engineering, quality, finance, and other company activities that expose them or their staff’s to contractors and suppliers where there is a potential for fraud to occur. 

TRAINING METHODOLOGY

This seminar will combine a variety of instructional methods including lecture fraud and by an experienced practitioner and consultant, exercises, and group discussions covering participants’ current practices and actual examples of corruption.

 

Organizational Impact

The organization will benefit by:

• Reduced cost of Purchased material & services
• Improved Supplier Performance
• Employees with greater knowledge on fraud prevention
• An improved reputation for ethical conduct

Personal Impact

Attendees will gain by participation in this program as a result of:

• Increased skill sets in fraud prevention
• A greater sense of Professionalism
• Knowledge of World-Class purchasing practices to reduce fraud
• Increased knowledge of standards of ethical and Professional Conduct
• Increased recognition by the organization due to improved performance