In the last 5-7 years procurement cards (p-cards) have become so popular that most organizations are using them as a way of saving money, streamlining purchases, and eliminating paperwork. Unfortunately, we read of P-card frauds all too often. And it is not just the lower-level employees that are committing the frauds. Upper management, executive management, consultants, and service providers have learned the hooks and tricks for committing or supporting P-Card fraud.   

Often an organization’s P-Card systems start as a pilot program and evolve into popular programs that lack key oversight, internal controls, or alignment with best practices. By attending this course, you will find out about the latest P-Card frauds, how you can find the control weaknesses within your organization before they are exploited, and how you can audit P-Card systems effectively without wasting your valuable time on low-risk issues.

Here are just a few tricks you will learn:

• How to find the high fraud risk Internet purchases.
• The hidden tricks to the Merchant Category Codes that merchants don’t want you to know.
• How to find fraudulent cash advances and gift cards.

We will also explore how to set up a continuous monitoring model that catches fraud as it occurs and not several months later. And, at this seminar you will receive audit programs, testing techniques, and sample audit findings so that you can start efficiently and effectively auditing P-Card systems immediately.

Prerequisites: None                      Learning Level: Basic
Advance Preparation: None         Field: Auditing
Delivery Method: Group-Live