OVERVIEW
About This Programme
Procurement fraud can occur in many ways. It can occur through departmental purchasing of goods and services, as well as through contractual arrangements with external service providers. The current COVID-19 pandemic and companies adapting their operations to enable staff to work from home can further give rise to more opportunities for fraud to be committed against the company.
Procurement fraud can be committed by not only vendors, but also by employees, as well as collusion between vendors and employees. It is therefore extremely crucial that your company support appropriate managerial and supervisory staff in acquiring relevant knowledge and techniques to design and put in place appropriate internal controls to safeguard limited resources from unnecessary abuse and fraud.
Join us for this 2-day training and coaching to increase your staff’s competency in helping your company to prevent and reduce unnecessary financial losses caused by procurement fraud.
Fulfil CPD/CPE requirements to advance your expertise
Apply effective internal controls through case studies
Identify vulnerabilities and detect procurement fraud schemes
what to expect
Course Outline & Learning Outcomes
Course Outline
- Introduction to the procurement process and procurement fraud
▪ Understanding the sub-processes of the procurement process
▪ Why is the procurement function vulnerable to fraud?
▪ Where and when can procurement fraud happen?
▪ Consequences of procurement fraud - Different types of common procurement fraud schemes
▪ Bribery and corruption
▪ Fraud in bidding process
▪ Unjustified sole source
▪ Split purchase
▪ Change order abuse
▪ False invoices and phantom vendors - Deterring, preventing, and detecting procurement fraud
▪ Procurement fraud deterrents
▪ Data analytics and visualisation
▪ Other mechanisms to monitor and detect different types of procurement fraud - Case studies discussion
- Questions & Answers session addressing participants’ practical challenges
Learning Objectives
▪ Gain an understanding of the procurement function’s vulnerability to fraud
▪ Explore different kinds of common procurement fraud schemes that occur in a typical
organisation
▪ Identify the different effective deterrent and preventive measures to help reduce the
occurrence of procurement fraud
▪ Learn about practical tools and techniques to monitor and detect the occurrence of various
procurement fraud schemes
▪ Apply internal controls learnt in different case study scenarios to prevent and detect various
common procurement fraud schemes
who should attend?
▪ Procurement professionals (managers and supervisors)
▪ Finance professionals, especially accounts payables
▪ Internal auditors
▪ Risk managers
▪ Internal controls and compliance professionals
FEES (inclusive of gst)
SGD $1,360
trainers
Trainer Profile
Sylvia Lim
Sylvia Lim is a Corporate Risk Strategist with over 15 years of experience working with Big Four
accounting firms, multinational corporations, and local companies across Hong Kong, China, and
Singapore. Specialising in business risk management and fraud prevention and detection, Sylvia
has provided extensive advisory, coaching, and training to corporate clients in the Asia-Pacific
region.
With a deep passion for risk management and internal controls, Sylvia has led key projects in
internal audit and anti-corruption efforts and has delivered tailored anti-fraud training
programmes to numerous organisations. A graduate of Nanyang Technological University with an
honours degree in Accountancy, she holds certifications as a Certified Internal Auditor, Certified
Fraud Examiner, and Risk Management Assurance Specialist.
Sylvia’s expertise is further demonstrated by her published work, including the article “Procurement
Fraud: 12 Common Pitfalls,” featured in the Internal Auditor Online Magazine in 2021. Through her
professional training experience, Sylvia empowers her clients to identify and manage risks
effectively, helping them achieve both their business and personal goals.
