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Performing Anti-Fraud Audits in Purchasing and Accounts Payable (MFG350F)

Presented By : Marna Steuart
(*) Single User Price. For multiple users please call 1-800-223-8720
Pre Recorded Webinar
60 minutes
  •  Thu, April 30, 2015
Event Description

How Data Analysis Tools Can Help Perform Anti-Fraud Audits

An increased awareness of fraud and the ongoing cost to organizations have created a need to take a proactive stance on performing anti-fraud audits in their Purchasing and Accounts Payable cycles. The Association of Certified Fraud Examiner's (ACFE) 'Report to the Nations on Occupational Fraud and Abuse' published in 2012 predicted that 5% of an organization's revenue is lost to fraud.

Large volumes of data from Purchasing and Accounts Payable can be analyzed and tested for certain elements of possible fraud in small and medium manufacturing enterprises. Accounts Payable is considered the 'checkbook' of the organization, and therefore creates an area that is vulnerable to fraud in the absence of a proper control environment. Internal Audit organizations must analyze the data that comes out of the process to enable the organization to feel comfortable that controls are in place and functioning properly, or that there may be fraud occurring. Understanding the data is the first step in analyzing large volumes of data.

This webinar by Marna Steuart will provide you with a basic understanding of fraud, data analysis tools and tests, and proactive accounts payable anti-fraud example of reviews that can be conducted. The session will explain the use of Audit Control Language (ACL) and how this tool and other tools like it (IDEA) are helpful in the analysis of Accounts Payable and Purchasing data.

Session Highlights

  • The Fraud triangle and ACFE statistics
  • Fraud basics and different types of frauds
  • Understand the data that A/P or IT can provide for analysis
  • Utilizing different data analysis tools (ACL vs. IDEA or just Excel)
  • See examples of proactive accounts payable anti-fraud reviews
  • Understand different data analysis tests that can be performed on accounts payable and purchasing data

This webinar will provide valuable assistance to:

  • Internal Audit Management personnel involved in anti-fraud audits
  • Financial Statement Audit professionals in small scale manufacturing units
  • Purchase Managers in manufacturing, logistics, supply chain companies
  • Procurement and Inventory control managers
  • Risk/Compliance Officer from manufacturing industry such as Plastics, Packaging, Polymer, Garments, Distillery and Brewery, Heavy Machinery, Food, Drug and Biologics manufacturing etc.
  • Personnel involved in Accounting i.e. Closing & Reporting, Accounts Payable & Receivable, Fixed Asset Management, Controls & Governance in small and medium manufacturing units
About Our Speaker(s)

Marna Steuart, Manufacturing Compliance ExpertMarna Steuart
Marna Steuart has been in the audit industry for over 20 years. Ms. Steuart began her career with a Big Four firm as an external auditor, then as an internal auditor in several different capacities within several different industries. Ms. Steuart obtained her Certified Fraud Examiner license in 2007 and was the main fr... More info

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    Event Title: Performing Anti-Fraud Audits in Purchasing and Accounts Payable
    Presenter(s): Marna Steuart Protection Status