Contract and Procurement Fraud
Overview
This session will focus on the most common types of fraud in the procurement and contracting arena, with a focus on fraud in construction. The session will examine fraud vulnerabilities in the four key phases of the procurement process:
- Presolicitation.
- Negotiation.
- Performance.
- Closeout and Claims.
Within each phase, “red flags” will be discussed. These are the indicia of possible fraud that managers should be alert for. Also, within each phase, the most common fraud schemes will be highlighted and discussed. Finally, the session will describe the generally accepted safeguards or controls that should be established to prevent the various fraud schemes that can occur. This part of the program will make extensive use of actual fraud case studies designed to demonstrate fraud risks and fraud detection strategies.
Highlights
- Procurement phases
- Fraud schemes
- Fraud red flags
- Fraud control activities and safeguards
Prerequisites
None
Designed For
Accountants and auditors at all levels
Objectives
- The major procurement phases
- Major procurement fraud schemes and red flags
- Procurement fraud safeguards and controls
- Contract and procurement fraud case studies
Preparation
None
Notice
This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).
Leader(s):
Leader Bios
David Cotton, Cotton & Company LLP
Dave Cotton has served as Cotton & Company’s managing partner since the firm’s founding in 1981 until July 2006. In July 2006, with the election of two new managing partners, he became the firm’s first chair. Dave served on the Advisory Council on Government Auditing from 2006 to 2009. He served on the Institute of Internal Auditors (IIA) Anti-Fraud Programs and Controls Task Force and co-authored Managing the Business Risk of Fraud; A Practical Guide. Dave also served on the American Institute of CPA’s (AICPA) Anti-Fraud Task Force and co-authored Management Override: The Achilles Heel of Fraud Prevention. He is the past-chair of the AICPA Federal Accounting and Auditing Subcommittee and has served on the AICPA Governmental Accounting and Auditing Committee and the Government Technical Standards Subcommittee of the AICPA Professional Ethics Executive Committee. Dave also chaired the Fraud Risk Management Task Force, sponsored by COSO and the ACFE and is a principal author of the COSO-ACFE Fraud Risk Management Guide. He currently serves on the AICPA’s Performance Audit Standards Task Force. Dave served on the board of the Virginia Society of Certified Public Accountants (VSCPA), and on the VSCPA Litigation Services Committee, Professional Ethics, Quality Review and Governmental Accounting and Auditing committees. He is a member of the Association of Government Accountants (AGA) and is past-advisory board chairman and past-president of the AGA Northern Virginia Chapter. Dave is also a member of the Institute of Internal Auditors and the Association of Certified Fraud Examiners. Dave has testified as an expert in governmental accounting and auditing issues and fraud issues before the U. S. Court of Federal Claims and other administrative and judicial bodies. He makes frequent presentations on professional ethics and fraud topics. Dave has instructed for the George Washington University Master of Accountancy program (Fraud Examination and Forensic Accounting) and for the George Mason University Small Business Development Center (Fundamentals of Accounting for Government Contracts). Dave was the recipient of the AGA’s 2006 Barr Award and the AGA’s 2012 Educator Award.
Non-Member Price $109.00
Member Price $79.00