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The supply chain includes the movement of raw materials, components, finished goods, documents, money, services, and data.  The all-inclusive supply chain is not limited to activities between an enterprise and its customers and vendors: it describes interactions between internal suppliers and internal customers as well, regardless of their domestic or global location. Gaps in supply chain links – where controls are not present or lacking – and weak links themselves are areas where opportunists can perpetrate fraud.

Recommending anti-fraud projects to executive management can be problematic because it is difficult to put a price on protecting against something that has not happened or is not visible yet. Without a definitive return-on-investment, determining a suitable budget amount for anti-fraud and risk-reduction projects is an inexact science.  The rest of the enterprise may reject what they perceive to be authoritarian actions of auditors and risk managers to police a "low visibility" problem, especially if operational efficiency or throughput is compromised.  

A better approach is to unite process improvement with risk management by utilizing the same software technologies, operational best-practices, compliance rules, governance guidelines, and performance measures to increase efficiency, accuracy and throughput and also to reduce risk due to fraud by enhancing oversight without inhibiting performance. 

Collaborative efforts between the operations and audit groups, and the understanding of each other's perspectives on the same information, enables greater understanding and mutual participation towards the shared goals of the enterprise.

Learning Objectives

  • Illustrate the enterprise’s true control over its supply chain.
  • List the tried-and-true supply chain technologies that are widely used and can be deployed for fraud detection.
  • Visualize how available supply chain technologies can be used together to create a check-and-balance transaction audit for detecting fraud.
  • Compare your enterprise to industry statistics on audit technologies and fraud detection.

 

 

Last updated/reviewed: September 18, 2018

15 Reviews (49 ratings)Reviews

5
Member's Profile
Good class! Met my objectives. Sound quality was very inconsistent. At one moment the speaker could be clearly heard and the next moment not. Maybe he moved around and turned away from the microphone. Don't know.
5
Anonymous Author
It's an excellent preparation for my next job. There was a small typo in The Quiz, 'Scorecard' was spelled 'Corecard'. Throat-clearing by instructor was a bit distracting.
4
Anonymous Author
Great class. Only issue I had with the class is that the volume levels changed frequently. Portions of some sections got quieter and then louder and then quieter again.
3
Member's Profile
Comments about supplier scorecards tailored to retail. Supplier scorecards are a best practice regardless of the industry; broaden scope on scorecards
5
Member's Profile
Very useful description of supply chain role in enterprises. And how fraud can have impact everywhere, potentially endangering company's existence.
4
If you have some specific audit procedures to share, I would be very interested. I do use ACL. Thanks! finn@issecuritysolutions.com
4
Member's Profile
Great course, well covered. I would recommend to anyone who needs to get some understanding about fraud arising in the SCM area.
5
Member's Profile
Excellent Course. It gave me another perspective and ideas to implement/ audits to perform.
5
Member's Profile
The course was a good review for what I knew...and there were several things that I learned.
5
Member's Profile
This course was outsatnding, The parcticalities and exercises wre useful and tight.
3
Member's Profile
Ok program, doesn't fully address the fraud aspect from a practical standpoint.
4
Anonymous Author
Good comprehensive introductory presentation for Auditing Supply Chain fraud
5
Anonymous Author
Too much time spent discussing the presenter's qualifications
5
Anonymous Author
excellent course
4
Anonymous Author
good

Prerequisites

Course Complexity: Intermediate

Prerequisite: Exposure to managing the internal audit function

 

Advanced Preparation: None

 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Auditing For Supply Chain Fraud
  3:17Audit's Role and Perspectives
  15:03Definitions
  3:34Detection and Reduction
  24:24Helpful Technologies
Conclusion
  11:06The Vendor Scorecard and Conclusion
SUPPORTING MATERIALS
  PDFSlides: Auditing For Supply Chain Fraud
  PDFAuditing For Supply Chain Fraud Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM