Detecting Frauds in Purchasing and Payables
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Fraud and abuse losses continue to significantly impact as many as 70% of businesses, governments and non-profits annually. Purchases (from large projects to minor daily expenses) can represent as much as 60% of an organization's spending and provides those looking to steal and defraud an attractive target.
Awareness of the most common fraud approaches in the procurement and accounts payable areas and how to spot them is a critical first step in reducing the potential for fraud in any organization.
Why should you Attend:
- Fraud losses hurt consumers, employees, businesses, governmental agencies and charitable organizations daily.
- The "innocent" are often pulled into investigations because they ignored clear signs of fraud around them.
- Early recognition of frauds can significantly reduce losses and reputational harm.
Areas Covered in the Session:
- Current trends driving fraud losses
- Why purchasing and accounts payable are particularly vulnerable
- How the organization's contracting practices influence its vulnerabilities
- The 3 "big" issues in purchasing frauds and how to recognize the "red flags"
- 13 other types of fraud in purchasing and contracting
- 8 additional fraud schemes specific to accounts payable
Who Will Benefit:
- Purchasing, Procurement, or Logistics manager
- Accounting manager
- Accounts Payable Manager
Dr. Raymond S. Kulzick is a Florida CPA, Certified in Financial Forensics, a Certified Fraud Examiner, a Chartered Global Management Accountant, and president of Kulzick Consulting, PA. He is a legal consultant and expert witness in the areas of damages, fraud, divorce, and financial analysis for litigation and regulatory compliance. Dr. Kulzick is a frequent instructor at continuing education events for CPAs and members of the legal profession.
He has held management positions with large corporations, government, and non-profits, and has owned a number of small businesses. A professor at St. Thomas University for many years, Dr. Kulzick developed their Forensic Accounting graduate specialization. He has a doctorate from Nova Southeastern University, a Master of Accounting from St. Thomas University, and MBA and BBA degrees from the University of Wisconsin. He is a member of numerous professional organizations -including currently serving on the Florida Institute of CPAs Board of Governors.