Continuous Monitoring Projects in Purchasing and Accounts Payable - How to Detect Anomolies

This webinar will explain how to perform anti-fraud audits in the purchasing/accounts payable cycle. It will discuss 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.

• The fraud triangle and statistics from the ACFE
• A basic understanding of fraud and the different types of fraud that can occur
• Understanding the data that A/P or IT can provide for analysis
• Different data analysis tools that can be utilized (ACL vs. IDEA or just Excel)
• Examples of proactive accounts payable anti-fraud reviews
• Different data analysis tests that can be performed on accounts payable data
• Different data analysis tests that can be performed on purchasing data

With an increased awareness of fraud and the ongoing cost to organizations, taking a proactive stance on performing anti-fraud audits in Purchasing and Accounts Payable is imperative to most organizations. According to the Association of Certified Fraud Examiners (ACFE) ''Report to the Nations on Occupational Fraud and Abuse'' published in 2012, it predicted that 5% of an organization's revenue is lost to fraud.

This course will provide you with a basic understanding of Fraud, different data analysis that can be utilized, proactive accounts payable Anti-Fraud examples of reviews that can be conducted and different data analysis tests that can be performed. Some knowledge and use of ACL or IDEA is suggested but not required.

• Internal Audit Personnel involved in Fraud Related Activities
• Internal Audit Management interested in Performing Anti-Fraud Audits of Accounts Payable and Purchasing Cycles
• Professionals Responsible for or Interested in Performing Anti-Fraud Audits
• Risk Officer
• Compliance Officer

Marna Steuart has been in the audit industry for over twenty years. Ms. Steuart began her career with a big four firm as an external auditor, then as an internal auditor in different capacities in various industries. Ms. Steuart has performed collective bargaining contracts, and construction contract audits of several third-party contracts. She has also performed vendor contract audits of purchase power contracts and third-party vendor contracts for services throughout her career as an internal auditor. She has firsthand knowledge of where to look in a contract for possible risks and of case studies that would save thousands of dollars’ for organizations.