How to Detect and Prevent Construction Fraud
An Interactive Virtual Seminar
This course is designed to raise awareness of fraud related to construction and provide practical approaches to detect and prevent many types of fraud. The course focuses on expectations and accountability, encouraging detection and effective response, without overreacting or becoming a “gotcha” auditor or manager.
This highly engaging virtual learning experience includes case examples and exercises, including applying detection methods to the attendee’s own environment. It includes practical, proven “how to” techniques as well as perils and pitfalls and how to avoid them. Earn 8 CPE Credits.
Familiarized training: all of our construction related in-house training includes preliminary familiarization with customer example project documents. When we familiarize a course, we take time to review examples of your project documents including construction contracts, change orders, contractor invoices, etc. This review helps us to better address the specific training needs of your organization and your project.
Learning Objectives – Upon completion attendees will know:
- The extent and nature of construction fraud.
- How construction fraud impacts owners and their projects.
- Common mistakes and errors and how to avoid them.
- Frauds committed by contractors, subcontractors, suppliers, employees of owners.
- How to avoid having an environment friendly to fraud.
- Steps for fraud prevention.
- How to detect fraud in routine management and audit practices.
- What to do when fraud is suspected.
- Fraud exposures and symptoms of occurrence.
- Practical approaches to behavioral red flags.
- How to encourage accountability in managers and contractors.
- What effective investigations include.
Challenges Presented by Construction Fraud
- Construction fraud implications
- The extent and nature of fraud in construction
- Fraud, overcharge and nonperformance
- Games played by contractors
- The role of perception
- How to impact your culture and mobilize management
- Four steps for construction fraud prevention
- A model for addressing fraud challenges
Fraud Detection – What Works & What Doesn’t
- Why fraud goes undetected
- Making it safe to surface problems
- Five Steps for Detection
- Case examples for exposures and symptoms
- Behavioral indicators of construction fraud
- Brainstorming fraud for your own projects
- Building detection into routine management and audit processes
- Effective response to suspected wrongdoing
- Using data analysis to know your area and detect fraud
- Getting the most out of construction contract auditing
- Fraud in bidding and awarding work
- Corruption, pay to play and kickbacks
- A Disadvantaged Business Enterprise Case
Who Can Benefit From This Learning Experience
- Anyone who wants to reduce construction fraud and make the culture more receptive to addressing difficult construction fraud.
- Project managers, auditors, executives, attorneys, investigators and others have found this training to be eye-opening!
Courtenay M. Thompson is a recognized authority on fraud-related training for internal auditors, management and investigators. Since entering the educational consulting field in 1981, he has written and presented courses for corporations, government and professional associations worldwide.
He is the co-developer of courses on audit and control of construction costs, and has developed and presented courses on purchasing fraud and contract auditing. His courses are known for providing practical approaches to real problems.
Mr. Thompson’s experience prior to consulting includes public accounting, audit supervisor for consumer financial services for a large retailer, and director of auditing for a life insurance company.
Mr. Thompson received his BBA and MBA degrees from Southern Methodist University and is a Certified Public Accountant. He is a member of various accounting and auditing professional associations.
Course Sponsor and Continuing Education Credits
All participants are eligible to receive up to 8 Continuing Professional Education credits (CPE’s) to fulfill professional accreditation requirements. Field of Study: Auditing. Course Level: Basic. Group-live, lecture-style seminar; no prerequisites or advanced preparation required. For information regarding CPE, complaint, or program cancellation, please contact Marie Jones at (254) 736-0309 or Rich Townsend at (972) 679-6762 or email email@example.com.
Construction Audit & Cost Control Institute (CAACCI) is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
To learn more about bringing this seminar to your group:
- Fill out the form below OR
- Call Rich Townsend (972) 679-6762
- Call Marie Jones (254) 736-0309