Main Menu
Home / Uncategorized / Identifying Fraud, Waste, and Abuse in the Supply Chain

Identifying Fraud, Waste, and Abuse in the Supply Chain

Of 3,600 executives and managers polled by Deloitte, only about 40 percent belonged to companies who have detection and prevention programs in place to spot risks and breaches. This is according to Sabine Vollmer in an article for CGMA Magazine. Another number cited from the survey is that a full 50 percent did not know how often their companies monitored third-party suppliers, shippers, and vendors. Analytics has been cited as a solution to these glaring concerns. Deloitte’s Mark Pearson provides seven questions that, when answered, mean corporate risks are being better handled:

  • Have all related parties been identified and factored into the risk-ranking of items to test?
  • How co-operative and responsive is the vendor?
  • Does the support provided validate the transaction?
  • Does the support provided in its entirety provide the ability to evaluate the “weight of the evidence” underlying the transaction?
  • Is there sufficient detail describing the item to justify its being invoiced?
  • Are there any notations (handwritten or otherwise) that may provide useful information about the transaction?
  • If the items invoiced do not have an associated pre-approved rate, is there precedent for the rate change?

You can learn more at Vollmer’s full article:

About John Friscia

John Friscia is the Editor of Computer Aid’s Accelerating IT Success. He began working for Computer Aid, Inc. in 2013 and continues to provide graphic design support for AITS. He graduated summa cum laude from Shippensburg University with a B.A. in English.

Check Also

The Robot Will See You Now: AI and Your Health Care

Health care is–as some have recently realized–complicated. Robots and apps will only make things more …

Leave a Reply

Your email address will not be published. Required fields are marked *

Sorry, but this content
is for our subscribers only!

But subscribing to ACCELERATING IT SUCCESS is FREE and only one click away!
Join more than 40,000 IT Professionals and get the best IT management articles to your mailbox with Accelerating IT Success!

Unsubscribe at any time