Invitation KPMG in MOLDOVA. Internal Audit Forum.
05.12.2011
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Internal Audit Forum |
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 Read the Romanian version of the invitation
Agenda 9.00 – 9.30 Registration 9.30 – 10.45 Session I What is in fact the Internal Control? Georgiana Iancu, Advisory Senior Manager – Internal Audit, KPMG Romania 10.45 – 11.00 Coffee break 11.00 – 12.30 Session II Procurement fraud and undisclosed conflicts of interest Kemal Ozmen, Advisory Director - Forensic, KPMG Romania 12.30 – 13.30 Lunch and Networking Short summary of topics proposed What is in fact the Internal Control? Internal control means different things to different people. This causes confusion among business people, legislators, regulators and others. In the same time, it is a fact that internal controls should be embedded in any activity that is looking for a balance between growth, returns, risks, uncertainties, and opportunities. To support the initiative and to provide more clarity, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has issued an internal control framework which serves as guidance for all those who are involved in or are affected by internal control. During the Forum we will discuss about what is the internal control from COSO’s perspective, what internal control can do and what are its limitations, roles and responsibilities towards internal control, its components and other related aspects. Procurement fraud and undisclosed conflicts of interest Procurement fraud is very common across all the major industries. Procurement fraud can be perpetrated by all levels of staff and management, and is usually done in collusion with a supplier and in exchange for kickbacks, which means that procurement fraud is actually a form of bribery and corruption. Procurement fraud can also come in the form of conflicts of interest. The typical example of a conflict of interest is when an organization’s official or employee has hidden financial interests in a vendor doing business with the organization, usually in an improper manner.
During the Forum we will be offering you insight into the definition of procurement fraud, conflicts of interest, popular schemes (through real life examples), as well as how to build your defenses in preventing, detecting and responding to such fraud in your organization. |
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