Market Areas > Corporate Finance > AP Fraud

Prevent and Detect Accounts Payable Fraud

Course Description:

Fraud could happen in any AP department and has happened in almost every organization.  In fact, according to the “Accounts Payable Now & Tomorrow” 2008 fraud survey, 86 percent of respondents confirmed their organization was hit by fraud in the past 10 years.

What’s really frightening is that recent research by the Association of Certified Fraud Examiners (ACFE) found that 90 percent of fraud in AP departments goes undetected. And of the 10 percent identified, only 20 percent of those were detected by internal controls.

Who’s the Culprit? Consider these alarming ACFE stats:

• Executive/upper management account for one-third of expense reimbursement fraud and 26.4 percent of check tampering fraud
• Accounting commits just under 32 percent of T&E frauds and is also responsible for 57.4 percent of check tampering frauds
• Sales is the thrid largest abuser of T&E fraud

Discover how to detect and prevent accounts payable fraud within your organization in this critical CCM audio conference.  In just 75 mintues you’ll get practical advise and best practice techniques to ensure your internal controls are up to the task.

During this invaluable session, you’ll also learn:

• The different types of AP fraud schemes and who’s typically behind them
• Top prevention, detection, and deterrence methods you can use
• The warning signs and red flags you need to watch out for
• How to identify key risks of fraud – and how to protect business
• How effective internal control systems can cut your losses and reduce the risk of fraud
• Key techniques to test your measures/systems for effectiveness
• How to limit access to important information and still run a productive AP department
• What information is necessary to maintain proper records in case you are the victim of AP fraud

Featured Faculty:

Craig L. Greene, Founding Partner, McGovern & Greene LLP

Craig L. Greene is a leading certified fraud examiner; white collar criminologist and founding partner of McGovern & Greene LLP. He works as a consultant and expert witness for law firms, corporations, and governmental and law enforcement agencies on cases involving allegations of fraud and misrepresentation. Frequently, his engagements—local, national and international— involve high profile fraud investigations, many of which have resulted in uncovering fraudulent financial reporting. Other engagements include corporate internal investigations, focusing on corruption payment schemes to senior corporate executives. Craig is also regularly engaged in litigation assignments as a Forensic Accountant to examine accounting records in business disputes and has served as an expert witness in many litigation cases.

Prior to founding McGovern & Greene LLP, Craig was a Partner in a local mid size accounting practice, Principal of his own firm and held the position of senior auditor at a Big Four accounting firm, where he supervised and performed audits, primarily of large publicly held corporations.

An internationally recognized public speaker, Craig has addressed numerous organizations on topics involving fraud and its detection, forensic accounting and casino accounting. He is a faculty member of the Association of Certified Fraud Examiners; Institute of Internal Auditors; and University of Nevada at Reno, Gaming Management Program. He is and has been a guest lecturer at the University of Illinois at Chicago; University of Notre Dame; Northwestern University; and University of Texas at Austin. Craig has also served as a corporate fraud instructor for the U.S. Postal Inspection Service and a procurement fraud trainer for the U.S. Naval Criminal Investigative Services.

Christine L. Warner, President, Automated Auditors, LLC

Christine L. Warner is a senior data specialist with over 16 years of SAS programming experience, much of which has been in the fraud detection field.  Ms. Warner works with McGovern & Greene on data-intense cases to assist in detecting Accounts Payable fraud, waste, and abuse.  She also serves as the president of Automated Auditors, LLC, a small consulting firm which supports Accounts Payable recovery audits.  In this position, Ms. Warner handles all aspects of data collection and duplicate payment identification.  She has developed an entire suite of A/P Audit algorithms, including dupe payment detection, dupe vendor detection, identification of fictitious suppliers, Benford’s Law analysis, fuzzy-matching on vendor name and address, and much more.  In a previous capacity, Ms. Warner served as a data mining specialist for Ingenix, United Health Care’s leading fraud-detection unit.  In this position, Ms. Warner developed many of the provider fraud-detection algorithms that are still used today, such as unbundling, upcoding, medical necessity, fictitious providers, over-charging, double billing, and more.

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this conference that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

CEU:

Receive 1.5 CPE credits by attending the live Audio Conference! CCM is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org Program Level: Intermediate Prerequisites: This course is for participants with some exposure to the subject. Advanced Preparation: None Delivery: Group Live CPE Credits: 1.5 Recordings of the program do not qualify for CPE credits. For more information regarding administrative policies such as complaint and refund, please contact our offices at 877-900-C4CM (2426).

Each CCM event presents a variety of information and is presented for each organization to develop its own approach and methodology.