Often us auditors get told, “there’s some payment fraud in that entity, can you check it out”… and that’s all the information we get. This can be daunting because there are a thousand ways to fraud. And you may have millions and millions of lines of data in your SAP system. So where do you start?
To lend you a hand we have devised the top 10 payment frauds, and how these tend to be hidden:
1/ Purchase of goods or services that are not required by the organization
2/ Purchase of overpriced goods or services
3/ Purchase of goods or services from shell companies
4/ “Accidental” overpayment that is intercepted following reimbursement
5/ Company credit cards for personal purchases
6/ Flip-flop IBAN numbers in the supplier master data
7/ Payment of salaries to ghost employees
8/ Purchase of consulting/ training/ bailiff/ legal/ charitable/ membership services from fictitious organizations
9/ Duplicate payments
10/ Modification of the payments file following export from SAP and before sending to the bank
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