Fraud in Procurement

Procurement Fraud Prevention Training

This is closely allied with “corruption in procurement”. In this instance the actions are generally restricted to one person.

Fraud in procurement generally involves the actions of an employee. The primary conduct is linked to asset misappropriation.

The Association of Certified Fraud Examiners (ACFE) have key areas where an employee is able to defraud the business. This includes such areas as the false requisition (ordering) of assets either externally or internally, the ordering of goods for personal use and/or resale through various avenues, or the improper supply of goods to a third party at a reduced rate for payment to the employee.

ACCA is able to monitor and review these transactions to identify anomalies in transactions leading to the identification of fraudulent schemes.