Procurement, Finance & Fraud
Identifying Internal and External Fraud Within Your Organisation
Knowing the difference between internal and external fraud within an organisation is important to ensure that you can adequately protect your organisation and have measures in place to protect against both.
External Fraud – External fraud occurs when individuals or organisations outside of the organisation commit fraud against the target organisation. In some cases, the technique used to target the organisation may be the same as the techniques used for personal fraud. The scammer may obtain the personal information from the intended target via phishing or other means, but rather than use the information to target the individual, they use the individual’s information to target the organisation.
Internal Fraud – Internal fraud can be classified as fraud committed by an employee against their organisation. This may be both small-scale, such as using false receipts to claim travel and accommodation allowances, or large scale multi coordinated attacks that can cripple an organisation.
PROCUREMENT, FINANCE & FRAUD
Measuring and Maximising Social Value
Demonstrate Your Organisation’s Social Value Contribution
16 October, 2024
09:00 - 16:15
PROCUREMENT, FINANCE & FRAUD
Understanding Subsidy Control Law
Apply and Comply with the Subsidy Control Act
POLICY & PROJECT MANAGEMENT SKILLS
A Guide to Successful Contract Management
Successfully Manage the Contract Process
3 July, 2024
09:25 - 16:15
PROCUREMENT, FINANCE &
FRAUD
PROCUREMENT, FINANCE & FRAUD
Effective Ethical Procurement
Ensure Ethical Practices in Your Organisations Procurement Processes
PROCUREMENT, FINANCE & FRAUD
Counter-Fraud Training for the Public Sector
Detect, Prevent and Tackle
PROCUREMENT, FINANCE & FRAUD
Understanding IFRS 16
Gain a Practical Understanding of the New IFRS 16 Standard and the Impact to P...
PROCUREMENT, FINANCE & FRAUD
Understanding Procurement Law and Procedures
Apply and Comply with the Latest Regulations
POLICY & PROJECT MANAGEMENT SKILLS
Better Business Cases™ Foundation Level
APMG Accredited Training
PROCUREMENT, FINANCE & FRAUD
Successfully Writing Applications, Grants and Proposals
Effectively Apply and Receive Funding
PROCUREMENT, FINANCE & FRAUD
Benefits Management to Demonstrate Value and Return on Investment
Gain Buy-in for Your Projects
11 June, 2024
09:00 - 16:15
PROCUREMENT, FINANCE & FRAUD
A Guide to Successful Commissioning
Successfully Manage the Commissioning Process
POLICY & PROJECT MANAGEMENT SKILLS
Effective Regulation
Effectively Achieve Regulatory Objectives
POLICY & PROJECT MANAGEMENT SKILLS
Effective Stakeholder Management
Manage Relationships to Achieve Your Goals
3 December, 2024
09:25 - 16:15
PROCUREMENT, FINANCE & FRAUD
Effective Financial Reporting for the Public Sector
Gain a Comprehensive Practical Understanding to Producing Financial Reports
PROCUREMENT, FINANCE & FRAUD
Successful Specification Writing
Effectively Attract the Right Suppliers
What are the latest figures from the Cross-Government Fraud Landscape Annual Report 2022?
Detected fraud rose from £227m in 2019/20 to £243m in 2020/21
Detected fraud and error rose from £310m in 2019/20 to £525m in 2020/21
Prevented fraud and error rose from £388m in 2019/20 to £653m in 2020/21
Recovered fraud and error rose from £92m in 2019/20 to £193m in 2020/21
What is Social Value?
Social value refers to the benefits organisations and social enterprises provide to both society and the economy. Over the last few years, there has been an increased demand to measure and maximise it, with many organisations seeking to understand and communicate the positive social values they are creating in an attempt to attain economical, environmental and social benefits.
Why are Public Sector Contracts so Important?
The entire procurement process starts with a need. Whether that’s a need for goods to be provided, work or services, public sector organisations need the right supplier to fill this need. This is where contracts come in. Also known as a ‘tender,’ a contract is an arrangement between a public sector organisation and a supplier to provide goods, work or services.
Demonstrating Return on Interest
Within the procurement, finance and fraud landscape being able to demonstrate Return on Investment (ROI) is key to showcasing to stakeholders, managers or employees the positive impact investments are making on services, strategy and performance.
How to Calculate or Measure ROI?
Calculating ROI is dependent on the type of metrics you are looking for, but the most common formula for ROI is:
ROI = (Net profit / Cost of investment) x 100
What’s Classed as Successful or Positive ROI?
As a simple definition, a good or positive return on investment is when your investment value into a project or campaign exceeds your expenses. For example, if your organisation invests £5,000 into a new project and generates £7,000, this is positive ROI as you’ve made more than you spent.
What Are the Benefits of Demonstrating ROI in the Public Sector?
Help you improve your strategy
Gain buy-in from key stakeholders
Understand division or team performance in your organisation
Simple yet impactful for all
Justify or defend budgets
Procurement, Finance & Fraud
-
Eliminate Public Sector Fraud: 5 Tips to Counter Fraud in the Public Sector
According to the Public Sector Fraud Authority, Public sector fraud and error loss is estimated to cost at least £33bn a year, having a negative impact on efficiencies and the cost of public services. -
A Procurement Professional’s Guide to Building Sustainable Procurement, the Incoming Procurement Bill and Managing Future Contracts
As we’re still in a constantly changing environment, it’s important to stay on top of the latest news and updates when it comes to procurement.
What Can the Public Sector do to Prepare for the Upcoming Procurement Bill 2023?
With the upcoming Procurement Bill 2023 nearing the final stages, its important that public sector organisations take into consideration the impact that new changes may bring. The government has released guidance on four areas where early consideration and action can best help organisation prepare for the changes:
Processes and policies – make sure your current processes and procedures are robust on areas such as pre-market engagement and supplier evaluation/assessment.
Systems – Familiarise yourself with the document ‘Transforming Public Procurement – Our Transparency Ambition’ which outlines the government proposals to improve transparency of UK public contracts and spending.
People – consider the procurement and contract management capability across your organisation, and consider benchmarking your organisation against relevant commercial and procurement operating standards and other comparable organisations.
Transition – ensure contract registers and details are up to date, conduct a review of pipelines to identify planned procurement activity over the next 18 months and engage with your key supply chain about the new regime.
Become Part of the Understanding ModernGov Community