Two Day Seminar: Fraud Proofing Your Procurement Audit

Course Code:
GRC484
CPE Hours:
16
Course Start Date:
July 11, 2019
Course End Date:
July 12, 2019
Time:
9.00 AM - 5.00 PM
Registration Deadline :
July 08, 2019
Level of course:
Level 1
Trainer:
Kenneth Koh
Competency areas:
Governance, Risk and Control [GRC]
Course venue:

M Hotel Singapore

Course fee (IIA/ ISACA member):
$845.30
(Inclusive of GST)
Course fee (non-member):
$1070
(Inclusive of GST)
Other Memberships valid for discount:
10% off non-member rate for ISCA and ACCA member
Lunch Provided:
Yes
Tea Break:
Yes
Course Overview:

INTRODUCTION
The procurement process is the riskiest key business cycle in most companies. Understanding the procurement process in depth will help the audit professional identify the various risk exposures from various aspects of the business. This course aims to provide a comprehensive framework for adequate coverage of the procurement process against potential fraud.

WHO SHOULD ATTEND
Auditors or professionals who are involved in procurement, purchasing or contract management.

Course description :

LEARNING OUTCOMES
• Acquire the general understanding of the procurement cycle.
• Aware of the various potential loopholes in the procurement cycles.
• Ability to detect and identify potential lapses.
• Achieve competencies in designing tools to mitigate or prevent procurement lapses.

COURSE OUTLINE
Introduction
• Overview of the procurement cycle from requisition to payment
• 3 principals of procurement (Transparency, fair competition and fair value)
• Discussion on the types of potential procurement fraud

Procurement fraud
• Reasons behind procurement fraud
• Discussion on actual past cases of procurement fraud

Procurement cycle
• Understand the nature of the procurement cycle and its potential loopholes
• Learn to detect potential fraud in the areas of procurement, payables, payments, etc.

Purchase requisition
• Establishing the purchase requisition process
• Identifying the need for purchase

Procurement methodology
• Establishing the various methods of procurement
• Pros and cons of each methods
• Identifying controls for these methods

Drawing up your specifications
• Identifying the exact items required
• Level of details for your specifications

Sourcing for the ultimate vendor
• German standard China price
• Cost and benefit assessment
• Building a long term relationships

Evaluation of vendors
• Vendor selection process
• Vendor maintenance process
• Vendor evaluation process

Approval process
• Setting up the limit matrix
• Assessing the adequacy of the matrix
• Independence in approval

Awarding the vendor
• Evaluation process
• Conflict of interest
• Drawing up the contract

Contract management
• Monitoring the contract from cradle to grave
• Contract variation

Supply chain management (SCM)
• Understanding the SCM
• Tapping on the resources of SCM as audit tools

Procurement maturity assessment
• Introduction to the different levels of maturity
• Assessment of the existing level of maturity in your organization
• Charting the path towards excellence in procurement
• Embedding checks to stay on path towards maturity

Going forward
• Preparation for the challenge
• How to execute them

ABOUT THE TRAINER
Mr Kenneth Koh graduated from NUS with a Bachelor of Accountancy degree and later an Executive MBA from Helsinki School of Economics. He spent most of his career in internal audit with MNCs and SMEs. He has travelled to Asia Pacific. Central Asia, Europe, CIS and USA for work. With his extensive experiences as an internal audit professional, Kenneth is keen to share his experiences and broaden the professional insights of the participants.


Payment by PayNow/PayLah! transfer

Make the payment of your registration fees via PayNow/PayLah! transfer by following the steps below:

1. Upon completing your registration, proceed to payment and select the “Cheque/Fund Transfer” option.
2. Login to Internet Banking or Mobile Banking.
3. Scan our corporate PayNow/PayLah! QR code.
4. Verify our UEN number (S76SS0058D) and release funds.
NOTE: Kindly include the details below under the UEN/Bill Reference Number (text limit of up to 25 characters).

5. Once payment is made, please print screen the transaction and email to iia-academy@iia.org.sg for our tracking purposes.

Please refer to PayNow and PayLah! for more information.


Group Discount
Register as a group of 4 or more participants for the same course and enjoy a 10% group discount!
Applicable for participants from the same company registered within the same day. Discount will be indicated and processed on a single invoice.

Terms and Conditions
1. Registered participants will be liable for the full fee even in the event of non-attendance.
2. A processing fee of $100 will be imposed for any cancellation. Cancellation must be submitted in writing 7 days prior to the event date and subject to IIAS’s approval. Substitutions will be permitted and conditions will apply.
3. All registrations must "Proceed to Payment" to complete registration. Full payment must be received prior the course commencement.
4. Contact Person will be notified VIA EMAIL upon successful registration of the course.
5. Complimentary parking will be provided on a first-come-first-served-basis.
6. IIAS reserves the right to revise the programme as necessary.
7. IIAS reserves the right to cancel or postpone the training should the minimum class size is not met.


PLEASE NOTE:

A system generated email will be sent upon successful registration of the mentioned seminar.
Once the course is confirmed, an email confirmation will be sent to the registrants’ contact email addresses 1 week prior to the course commencement date
If you do not receive any email notification regarding your course registrations, please call IIA Academy at 6324 9029


Registration Closed.