Auditing for Vendor Fraud
Intermediate
Online
Description
Auditing for Vendor Fraud will help you understand what measures you and your organization can take to prevent and detect vendor fraud. It examines why vendor audits should be conducted and discusses the importance of right-to-audit clauses in vendor contracts. You will explore examples of internal and external vendor fraud schemes, as well as the process for conducting vendor audits, including preparing for the audit, gathering data, performing audit tests and executing post-audit activities.
Key Takeaways:
- Proper process for conducting vendor audits
- Red flags related to vendor fraud schemes
- How effective right-to-audit clauses can be crucial to vendor contracts
- Risks associated with working with vendors
Prerequisites
Fundamental knowledge of audit procedures
You Will Learn How To:
Discern the need for vendor fraud audits.
Distinguish vendor fraud schemes and related red flags.
Identify the risks that can result from working with vendors.
Recall the process by which to conduct effective vendor audits.
Recognize the importance of effective right-to-audit clauses in vendor contracts.
Table of Contents
| Lesson 1 | Why Conduct Vendor Audits? |
|---|---|
| Lesson 2 | Understanding Vendor Risks |
| Lesson 3 | Types of Vendor Contracts |
| Lesson 4 | Effective Contract Language |
| Lesson 5 | Right-to-Audit Clauses |
| Lesson 6 | Internal and External Vendor Audits |
| Lesson 7 | Vendor Fraud Schemes Involving Internal Staff |
| Lesson 8 | Other Vendor Fraud Schemes |
| Lesson 9 | Common Vendor Selection Techniques |
| Lesson 10 | Other Vendor Selection Techniques |
| Lesson 11 | Obtaining Pre-Audit Support |
| Lesson 12 | Notifying the Vendor |
| Lesson 13 | Preparing for the Vendor Fraud Audit |
| Lesson 14 | Understanding the Process Data and Players |
| Lesson 15 | Requesting Access to Vendor Data |
| Lesson 16 | Gathering Vendor Data |
| Lesson 17 | Testing and Analyzing the Data |
| Lesson 18 | Red Flags in a Vendor Audit |
| Lesson 19 | Reporting Findings |
| Lesson 20 | Management's Response to Audit Findings |
| Lesson 21 | Recovering Funds |
CPE Information
| CPE Credit: | 4 |
|---|---|
| NASBA Information: | Auditing |
| Advanced Preparation: | None |
| Last Updated: | April 2024 |
| Delivery Method: | QAS Self-Study |
Policies
CPE Credit
Please note: To be eligible for CPE credit, you must complete the final exam within one year of purchase date. You may only claim CPE credit for a course once.
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System Requirements:
- Internet access: High-speed connection recommended
- Speakers required for video sound
The Association of Certified Fraud Examiners, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.
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