Course Duration: 3-Days
This course fulfils all prerequisite training requirements for certification exams #CPFCS101 and #FC102. This course is a prerequisite for all CIS fraud control certifications.
Continuing Professional Education (CPE) Credit
Upon course completion, we will provide you with an achievement certificate for up to 24 continuing professional education (CPE) credits that can be used to fulfill requirements for maintaining a variety of professional credentials for fraud examination, accounting, auditing, and information security.
Procurement-related fraud is costing your organization big money.
And in these times, more than ever.
In a world fraught with personal and corporate financial insecurity, the need for skilled and knowledgeable procurement fraud-control professionals has never been greater. As profits drop and budgets tighten, many internal employees feel forced to become "creative" with internal accounts. Employees and management alike now face multiple layoffs - often eliminating employee loyalty while making employees desperate with the prospect of living in a global economy that has all but collapsed.
Cutting budgets? Can’t afford training?
Fraud is a cost too. It has been estimated that internal occupational fraud and abuse costs organizations around 7% of gross revenues. 7 percent! One-fourth of the fraud schemes involve losses greater than $1 million. Most of the frauds are committed by either employees (39.7%) or managers (37.1%). Internal fraud costs your organization a lot of money without ever showing itself on the books as an expense, but it must be controlled as any other costly threat to the organization. Your organization needs to stop this hemorrhage of profits, and it needs to recover what has already been lost. If your organization is trying to cut expenses and save money, don’t allow the expensive disease of fraud and corruption to continue to thrive just because you don’t want to spend money on the less costly knowledge and skills necessary to control the problem.
Your organization naturally spends money on legitimate purchases of goods and services. Unfortunately, employees, contractors, and vendors can use the procurement process as a means to acquire assets and services for personal use, or even to get the company to pay for un-necessary or even fake purchases for the employee’s own benefit. Employees and managers alike can easily circumvent typical procurement procedures and controls to steer business to particular vendors, to purchase at inflated prices, and to even purchase from their own company as a supplier. Let’s face it, if procurement professionals do not know how fraudsters can get around controls, in ways that are nearly un-detectable from inside the organization, the organization is probably losing enormous sums of money due to undetected fraud.
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