According to the Association of Certified Fraud Examiners (ACFE) 3.4% of all reported fraud cases, over a two-years period, up to December 2011, were attributable to the Construction industry. The presence of fraud and corruption in Construction can take many forms; from falsely representing the numbers of hours a contractor works, through to collusion when bidding for contracts or paying bribes to secure a contract. These inevitably increase costs and, in the case of bribes, inflate the contract price.
More companies need to wake up and recognise that fraud and corruption costs, in terms of profits and a company’s reputation. It’s a real threat to growth!
At the end of the course, delegates will be able to:
- Understanding what fraud is
- Identifying red flags of construction fraud
- Understanding what construction fraud entails at each phase
- How to prevent fraud upon detection: at the procurement phase; at the supply chain phase and the construction and completion phase.
- What processes can be introduced to reduce the threat of construction fraud
- Taking the appropriate steps on risk management and fraud detection
- Strengthening the internal controls and the compliance programmes.
- Fraud Principles
- Characteristics of Construction Fraud
- Fraud Schemes
- Fraud in the Contract Performance and Administration Phase
- Fraud Risk Assessment
- Risk Management
- Fraud in Selected Areas
- Construction Fraud Detection
- Construction Fraud Investigation
Monitoring and Review of Construction
Our mission is the development of potentials in individuals and organizations in emerging economies. We believe that economies develop when entities within it are performing to their highest potential.
People matter to us. We are committed to understanding our clients so that we can serve them better. Our ultimate goal is to foster mutually beneficial longterm relationships with each of our clients that is built on trust.
Our faculty members are experts within their fields, and are supported by a network of dynamic back-office staff. We actively encourage collaboration and knowledge sharing, recognizing that winning ideas come from collaborative thinking. With the wealth of knowledge within our teams and our collaborative ethos, we create an atmosphere that is conducive to learning for all our delegates.