Vendor Fraud Prevention and Detection
Vendor fraud continues to be a significant threat to organizations. Learn ways to detect and explore methods to prevent vendor fraud.
Feb 21, 2023
NASBA Field of Study
Manage risks of fraud
In 90% of reported Foreign Corrupt Practices Act (FCPA) cases, a third party is involved. Vendor billing schemes, with $100,000 median loss per incident, are the top frauds in organizations, according to the Association of Certified Fraud Examiners 2022 Report to the Nations.
With vendor fraud so prevalent, it's critical to know how to detect fraud and understand methods to prevent it.
In this webinar, participants will:
- Gain an understanding of third-party, vendor risk management concepts from the perspective of fraud risk management and regulatory guidelines.
- See how case examples use leading technology approaches to uncover potential improper payments.
- Explore how machine learning and artificial intelligence can be used to continuously improve a company’s vendor risk management program.
- COSO and regulator expectations around vendor fraud prevention & detection
- Sample analytical procedures and leading technology approaches
- Machine learning and continuous monitoring examples
- Recognize COSO’s Fraud Risk Management framework around vendors.
- Recall practical examples of leading tests and behavioral algorithms.
- Identify potential improper payments.
- Recognize the role of using machine learning to risk score payment activity.
Who Will Benefit
- Auditors of any level who would like to incorporate professional skepticism and improve their knowledge around data analytics
Group ordering for your team
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