Accounts Payable Theft and Fraud
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Speaker : RICHARD E. CASCARINO
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When : Tuesday, January 21, 2025
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Time : 01 : 00 PM EST
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Richard E. Cascarino, MBA, CIA, CISM, CFE, CRMA
Well known in international auditing, Richard is a principal of Richard Cascarino & Associates based in Colorado, USA with over 32 years of experience in audit training and consultancy.
He is a regular speaker to National and International conferences and has presented courses throughout Africa, Europe, the Middle East and the USA.
Richard is a Past President of the Institute of Internal Auditors in South Africa, was the founding Regional Director of the Southern African Region of the IIA-Inc and is a member of ISACA, and the Association of Certified Fraud Examiners, where he was a member of the Board of Regents for Higher Education.
Richard was Chairman of the Audit Committee of Gauteng cluster 2 (Premier's office, Shared Services and Health) in Johannesburg and was the Chairman of the Audit and Risk Committee of the Department of Public Enterprises in South Africa.
Author of the book Internal Auditing - an Integrated Approach, published by Juta Publishing and now in its 3rd edition. This book is extensively used as a university textbook worldwide. In addition, he is the author of the Auditor's Guide to IT Auditing published by Wiley Publishing, now in its 2nd edition and the book Corporate Fraud and Internal Control: A Framework for Prevention, also Wiley Publishing. He is also a contributor to all 4 editions of QFINANCE, the Ultimate Resource, published by Bloomsbury. His latest books are Data Analytics for the Internal Auditor, and The Complete Guide to the CISA Examination, both published by CRC Press.
Tell-tale signs of accounts payable fraud include Increasing number of complaints about products or service, Increase in purchasing inventory but no increase in sales, abnormal inventory shrinkage lack of physical security over assets/inventory, charges without shipping documents, payments to vendors who aren’t on an approved vendor list
Areas Covered
Identification of:
- Duplicate Payments
- Abuse of Approval Levels
- Sole Vendor contracts
- Check Theft
- Rounded Amount invoices
- Cancelled and Returned checks
- Abnormal invoice volumes and values
- Vendor / Employee cross-checking
- Use of Computer Assisted Audit Techniques
- Benford Analysis
Course Level - Intermediate / Advanced
Who Should Attend
Financial Accountants, Forensic Auditors, Internal Auditors, Financial Managers, Board members, Audit Committee members
Why Should You Attend
More and more Procurement Fraud is costing organizations substantial sums which can be directly deducted from corporate profits.
Topic Background
Accounts payable fraud is among the most ubiquitous and damaging of frauds that affect businesses of all sizes. It’s also among the easiest frauds to perpetrate since most of the money leaving a company legitimately goes through the accounts payable function.
Apart from highlighting failures to follow rules in a procurement process, an Accounts Payable audit flashes out deficiencies in the procurement system and procedures. Irregularities such as fraud and corruption are exposed in the manner goods and services are sourced.
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$160.00
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