Procurement Audit and Fraud Management

Upcoming Schedules

Date	Venue	Duration	Fee (USD)
10 Feb - 19 Feb 2025	Live Online	10 Day	5250
24 Mar - 02 Apr 2025	Live Online	10 Day	5250
21 Apr - 30 Apr 2025	Live Online	10 Day	5250
23 Jun - 02 Jul 2025	Live Online	10 Day	5250
07 Jul - 16 Jul 2025	Live Online	10 Day	5250
04 Aug - 13 Aug 2025	Live Online	10 Day	5250
13 Oct - 22 Oct 2025	Live Online	10 Day	5250
01 Dec - 10 Dec 2025	Live Online	10 Day	5250

Course Overview

The Procurement Audit and Fraud Management course is a comprehensive program designed to equip professionals with the expertise to conduct effective procurement audits while mitigating fraud risks. Procurement fraud and bribery account for significant financial losses globally, with the Association of Certified Fraud Examiners (ACFE) reporting that organizations lose 5% of their annual revenue to fraud, with procurement fraud being one of the leading contributors. This course integrates Procurement Audit Techniques and Practices with Detection and Management of Procurement Fraud, providing a robust framework for ensuring compliance, enhancing transparency, and achieving value for money in procurement processes.
Key highlights of this training include:
Understanding procurement audit objectives in alignment with organizational mandates.
Assessing fraud risks at each stage of the procurement cycle.
Developing audit plans to validate compliance and performance.
Implementing anti-fraud controls to safeguard organizational assets.
Mastering international anti-bribery laws, including the UK Bribery Act (2010) and the US Foreign Corrupt Practices Act (FCPA).
Procurement fraud schemes, such as bid rigging, invoice manipulation, and kickbacks, cost businesses billions annually. According to PwC’s Global Economic Crime Survey, 31% of organizations experienced procurement fraud in the last two years. This course empowers professionals to detect red flags, implement preventive measures, and build resilient procurement systems.

Key Takeaways:

Understanding procurement audit objectives in alignment with organizational mandates.
Assessing fraud risks at each stage of the procurement cycle.
Developing audit plans to validate compliance and performance.
Implementing anti-fraud controls to safeguard organizational assets.
Mastering international anti-bribery laws, including the UK Bribery Act (2010) and the US Foreign Corrupt Practices Act (FCPA).

Understanding procurement audit objectives in alignment with organizational mandates.
Assessing fraud risks at each stage of the procurement cycle.
Developing audit plans to validate compliance and performance.
Implementing anti-fraud controls to safeguard organizational assets.
Mastering international anti-bribery laws, including the UK Bribery Act (2010) and the US Foreign Corrupt Practices Act (FCPA).

Course Objectives

By the end of this course, participants will be able to:
Establish procurement audit objectives aligned with organizational goals.
Identify and assess fraud risks in procurement and contracting processes.
Develop and execute procurement audit plans with actionable recommendations.
Implement effective anti-fraud controls and compliance mechanisms.
Understand international anti-bribery laws and their implications.
Enhance procurement transparency and accountability.

Personal Benefits

Advanced skills in procurement auditing and fraud detection.
Increased ability to safeguard organizational resources.
Career advancement opportunities in procurement, audit, and compliance roles.
Greater confidence in handling complex procurement fraud scenarios.

Organisational Benefits

Strengthened procurement oversight and reduced fraud risks.
Improved compliance with legal and regulatory requirements.
Enhanced value for money through performance-based procurement audits.
Development of a fraud-resistant procurement ecosystem.
Better supplier due diligence and contract management.

Who Should Attend

This course is ideal for:
Procurement, contracts, and purchasing professionals.
Internal and external auditors.
Risk and compliance officers.
Project and operations managers involved in procurement.
Legal and finance professionals overseeing procurement activities.

Course Outline

Module 1: Introduction to Procurement Audits

Definition and importance of procurement audits Key objectives of procurement audits Overview of procurement fraud risks

Module 2: Organizational Context & Mandate in Procurement Audits

Understanding the audited entity’s structure and policies Aligning audit objectives with organizational goals Role of internal controls in procurement

Module 3: Procurement Planning & Process Compliance

Key stages in procurement planning Approval and execution process sequence Ensuring compliance with legal and regulatory frameworks

Module 4: Risk Assessment in Procurement Audits

Identifying procurement fraud and corruption risks Risk mapping across procurement stages Developing risk mitigation strategies

Module 5: Audit Scope, Planning & Contract Selection

Defining procurement audit scope and objectives Developing an effective audit plan Criteria for selecting procurement contracts for audit

Module 6: Evidence Gathering & Audit Execution

Techniques for collecting and analyzing audit evidence Validating compliance with procurement policies Assessing value for money in procurement

Module 7: Procurement Audit Reporting & Follow-Up

Structuring a procurement audit report Formulating actionable recommendations Monitoring implementation of audit findings

Module 8: Fundamentals of Procurement Fraud & Corruption

Defining fraud, bribery, and corruption in procurement Common fraud schemes in procurement (bid rigging, kickbacks, invoice fraud) Impact of fraud on organizational reputation and finances

Module 9: Fraud Detection & Red Flags in Procurement

Identifying warning signs of procurement fraud Behavioral and transactional red flags Data analytics for fraud detection

Module 10: Anti-Fraud Controls & Preventive Measures

Designing internal controls to prevent fraud Role of segregation of duties and authorization protocols Supplier due diligence and vetting processes

Module 11: Anti-Bribery Policies & Compliance

Developing an anti-bribery management system Communicating and enforcing anti-bribery policies Monitoring compliance across procurement functions

Module 12: International Anti-Fraud & Anti-Bribery Laws

Overview of the UK Bribery Act (2010) Key provisions of the US Foreign Corrupt Practices Act (FCPA) OECD Anti-Bribery Convention & UN Convention against Corruption

Module 13: Building a Fraud-Resistant Procurement Framework

Training employees on fraud awareness Strengthening supplier and contract monitoring Implementing whistleblowing mechanisms

Module 14: Continuous Improvement in Procurement Audits & Fraud Management

Conducting post-audit reviews Enhancing fraud detection capabilities Best practices for sustaining audit and fraud management programs

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