Combating Procurement Fraud and Corruption

The programme

Programme overview

Virtually every entity suffers from procurement fraud, though management might not always know it. With procurement fraud costing entities an estimated 5 to 12 percent of their annual revenues, organisations lacking proactive fraud prevention measures are the most at risk. This instructor-led course will show you why traditional internal controls can be ineffective in preventing many types of fraud, and how to combat fraud more effectively and economically. You will learn about management’s responsibilities for preventing fraud, and the internal controls that genuinely help.

This course takes you further into leading techniques to manage the risk of fraud and cut its ongoing cost, across all types of entities. It looks at ways to combat fraud and corruption in procurement, and at the organisational systems, processes, procedures, documentation, and contracting practices that can be a barrier to value for money and competitiveness. The course also looks at how to reform procurement within the public, private, and third sectors, and how to build a world-class, high-performance procurement organisation.

Who should attend

Who is this programme for?

• Internal and External Auditors
• Chief Financial Officers
• Financial Managers
• Procurement Administrators
• Bid Committee Members
• SCM Managers
• SCM Practitioners
• Candidates Working Toward the Occupational Certificate: Supply Chain Practitioner

Learning outcomes

What you will learn

• Define the legal aspects of procurement fraud
• Recognise the differences between fraud deterrence and fraud detection
• Identify reasons why traditional internal controls often fail to deter fraud
• Improve implementation of conflict of interest management
• Create an effective anti-fraud culture
• Identify fraud perpetrators and understand fraudster psychology
• Implement the seven factors for establishing an anti-fraud programme
• Identify fraud red flags, including AI-assisted detection techniques
• Find the gaps in your fraud prevention process
• Improve your whistleblowing system
• Outline the elements typically found in an anti-fraud policy
• Improve procurement performance across your organisation

Explore the programme

Detailed programme outline

• Top challenges in procurement, and the impact of fraud on the economy
• Citizens' experience with procurement fraud, and real-world examples
• The impact of procurement fraud on an organisation
• The fraud triangle
• Procurement fraud system controls, and guidelines for building them
• General procurement issues, and guidelines for solving them
• Understanding the true scale of procurement fraud within an organisation and within a country
• The true cost of procurement fraud
• Defining procurement fraud, and understanding conflict of interest
• Conflicts of interest for employees, employers, and suppliers
• Tools for anti-fraud controls, and their relative effectiveness
• The key requirements for an anti-fraud culture, and how to build one
• The pillars of an anti-fraud culture within an organisation
• Spotting procurement fraud amongst employees: what to look for
• The five-step approach to fraud detection, and procurement fraud taxonomy
• Identifying red flags of fraud in the bidding process, among both employees and suppliers
• Identifying red flags of fraud in selecting the preferred supplier, among both employees and suppliers
• Identifying red flags of fraud in paying for goods and services
• Identifying red flags of fraud in the delivery of goods and services
• Identifying red flags of fraud in contract management
• Using AI-assisted detection tools to flag anomalies across the procurement lifecycle, then applying human judgement to investigate
• Key fraud theories, and the fraud triangle revisited
• Fraudster psychology, and the fundamental characteristics of a fraudster
• Defining contract fraud in procurement, and key areas where it occurs
• Reducing the risk of contract fraud, and how to prevent it
• Fraud detection methods, and corruption prevention mechanisms
• Using HR processes and internal controls to combat fraud
• Company fraud policy, and responsibilities for managing fraud
• Whistleblowing systems, and which are most effective
• Organisational and personal factors that inhibit whistleblowing
• Creating an ethical culture
• Practical tips to help eliminate procurement fraud and corruption
• Steps to conducting an internal investigation
• The investigation path and process
• Establishing a unified core for data, and creating a dynamic information flow
• Automating manual processes, and improving collaboration with critical suppliers
• Adopting an automated, consumer-like model
• Enriching planning capabilities
• Five steps to combat corruption
• The role of civil society, media houses, and transparency in combating corruption

Learning approach

How you will learn

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.– Course Material: Access well-crafted supporting resources.– Group Work: Collaborate on discussions and case studies for practical insights.– Workshops & Role-Play: Participate in immersive, scenario-based activities.– Practical Application: Focus on applying theoretical knowledge in real situations.– Post-Training Support: Receive extensive support after training for skill implementation.

Discuss your requirements

Dates, duration & arrangements

Contact Ratomac to confirm dates, duration, delivery format, entry requirements and any applicable assessment or certification before booking.