Detecting and Preventing Expense Reimbursement Fraud

Tuesday, Mar 28, 2017 at 11:30AM - 2:30PM

Event Details

One of the easiest ways to steal from a company is through expense reimbursements. This course is designed to review expense reimbursement frauds. We will review various methodologies for detecting expense reimbursement fraud and will discuss developing internal controls to help prevent and detect expense reimbursement fraud.

Examples of actual frauds will be provided so participants can understand how the frauds are being committed and how they were uncovered.

Objectives of the Presentation
  • Review methodologies for detecting expense reimbursement fraud
  • Design internal controls to prevent and detect expense reimbursement fraud
  • Identify the types of occupational frauds occurring most frequently
  • Recognize which industries have the most expense reimbursement fraud per the ACFE
  • Evaluate the most common source of fraud tips
  • Identify what duplicate receipts are an example of
  • Recognize how employees commit expense reimbursement fraud
  • Differentiate components of the COSO Framework for Internal Control
  • Identify the types of occupational fraud which has the longest duration before detection
  • Recognize the most common way occupational fraud is discovered
  • Differentiate which expense reimbursement frauds are used
  • Identify how to detect expense reimbursement frauds
  • Recognize red flags for expense reimbursement fraud
  • Identify risks for expense reimbursement fraud
  • Describe control environments and activities
  • Recognize information and communication control
  • Identify monitoring controls
Why Should you Attend
Employees who have the opportunity to exploit weaknesses in your organization's expense reimbursement processes and procedures can do so. Moreover, anti-fraud experts agree that expense reimbursement fraud can be one of the most difficult types of employee crime to detect and prevent. That is in large part due to the extraordinary variety of ways in which such crimes can be committed and the trust most companies have in their employees.

This webinar will summarize different types of expense reimbursement frauds including several "real life" examples. We will discuss how to identify the red flags of expense reimbursement fraud, offer specific fraud detection techniques and review anti-fraud internal controls.

By attending this Webinar, you will learn how vulnerable your organization may be to expense reimbursement frauds. You'll learn about the common and not-so-common ways that these frauds are perpetrated and, you'll learn how to detect the red flags of these schemes, how to detect them and how to strengthen your controls to prevent and detect expense reimbursement frauds.

Areas Covered
  • Describe the "fraud triangle"
  • List the common types of expense reimbursement fraud schemes, including:
    • Overstated expenses
    • Fictitious expenses
    • Unauthorized expenses
    • Misuse of company assets
    • Double billing
    • Altered receipts
  • Identify methods for detecting expense reimbursement fraud, including:
    • Data analytics
    • Invoice and receipt reviews
    • Vacation and holiday reviews
    • Benford's Law
    • Random price checks
    • Ratio analysis
    • Outlier searches
    • Itemization reviews
  • Recognize red flags, including:
    • Sequential invoice or receipt numbers
    • Excessive cash payments
    • Missing original receipts
    • Employee behaviors
    • Delayed submissions
  • Implement internal controls that prevent and detect expense reimbursement fraud, including:
    • Risk analysis
    • A controlled environment
    • Controlled activities
    • Improved training and communication
    • Monitoring
Who will Benefit
This Webinar will benefit:
  • Accounting and audit practitioners
  • HR managers, business owners, business managers
  • Senior financial management seeking to reduce their vulnerability to costly frauds
  • Payables specialists
  • Procurement managers
  • Compliance and ethics managers
  • CEOs, CFO's/senior financial managers
  • Security Personnel/Fraud Investigators and Examiners
  • Corporate accountants, government accountants and risk management personnel
For Registration

Note: Use Promo code PTY2D and get 10% off on registration (Valid till MARCH 31st 2017)

Organization Details

Online Compliance Panel (OCP) creates and delivers comprehensive industry relevant training sessions. These sessions are simple, interactive and cost effective. We are a predominantly web based information exchange forum. Live interactions on compliance training make the process holistic and effective. OCP largely emphasizes in offering regulatory compliance training to compliance professionals on varied topics. These primarily include risk management, quality management, corporate compliance and other regulatory compliances. Some of our primary areas of focus include advancement and updates in regulatory compliance, best practices and market trends.

We strive to incorporate high standards in developing a culture facilitating exchange of ideas resulting in functional excellence. OCP believes in nurturing ideas and thought processes through innovative e-learning methodologies. Our products and services are designed to offer customized solutions to industry and market. We bridge the gap between experience and knowledge thus delivering original and creative content.

Our objectives of employing interactive mediums ensure effective communication and mutual exchange of ideas. OCP closely follows best practices and regulatory trends in the global compliance scenario. We also observe and communicate trends witnessed in FDA, ISO regulations, process and design validation. All updates and additions to important laws can be accessed by our customers in real time.

Our mission is to empower compliance professionals through effective online training sessions. Our world class training methodologies stem from comprehensive understanding of client requirements. The content conforming to FDA and ISO standards is developed by well qualified and experienced industry leaders. Our offerings will exceed expectations and add value to your investment.

The content in various categories such as medical devices, pharmaceuticals and biotechnology will raise the bar in terms of quality already on offer .We hope to contribute to the creation of responsible organizations creating benchmarks in quality, integrity and transparency.

Online Event
38780 Tyson Lane, Apt 210
Fremont 94536

Starts March 28, 2017 at 11:30AM - 2:30PM

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Contact Information

Organization: Online Compliance Panel LLC

Event Contact: OCP Panel

Phone: 15108575896