The Purchasing and Accounts Payable cycles create a multitude of data that can be analyzed and tested for certain elements of possible fraud.  Accounts Payable is considered the “checkbook” of the organization and therefore creates an area that without the proper control environment can be ripe for fraud.  Internal Audit organizations have the ability to spend resources to analyze the data that comes out of the process to enable the organization to feel comfortable that controls are in place and functioning properly or that there may be fraud occurring.  There are simple ways to analyze large volumes of data that come from paying invoices.  Understanding the data is the first step towards knowing what to look for.  The course will spend some time discussing the use of Audit Control Language (ACL) and how this tool and other tools like it (IDEA) are helpful in the analysis of Accounts Payable and Purchasing data.

With an increased awareness of fraud and the ongoing cost to organizations, taking a proactive stance on performing anti-fraud audits in Purchasing and Accounts Payable is imperative to most organizations.  According to the Association of Certified Fraud Examiners (ACFE) “Report to the Nations on Occupational Fraud and Abuse” published in 2012, it predicted that 5% of an organization’s revenue is lost to fraud.  This course will provide you with a basic understanding of Fraud, different data analyses that can be utilized, proactive accounts payable Anti-Fraud examples of reviews that can be conducted, and different data analysis tests that can be performed.  Some knowledge and use of ACL  or IDEA is suggested but not required.