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Contract and Procurement Fraud

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ACPEN Webcasts

Online, OK 00000

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2.00 Credits

Member Price $109

Non-Member Price $139

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

Leader(s):

Leader Bios

David Cotton, Chairman, Cotton & Company, LLP

Dave Cotton is founder and Chairman Emeritus of Cotton & Company, Certified Public Accountants, headquartered in Alexandria, Virginia. Cotton & Company was founded in 1981 and has a practice concentration in assisting Federal and State agencies, inspectors general, and government grantees and contractors with a variety of government program-related assurance and advisory services. Cotton & Company has performed grant and contract, indirect cost rate, financial statement, financial related, and performance audits for more than three dozen Federal inspectors general as well as numerous other Federal and State organizations, programs, activities, and functions. In April 2022, Cotton & Company became a subsidiary of Sikich LLP.

Dave has a BS in Mechanical Engineering and an MBA in Management Science and Labor Relations.

In May 2022, Governor Glenn Youngkin appointed Dave to the Virginia Board of Accountancy.

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Non-Member Price $139

Member Price $109