Supply Chain Forensics: Identify Fraud, Waste, and Abuse in Your Organization - Dbriefs Poll Responses
For many companies, the supply chain represents both the largest source of cash outflows and interaction with outside business entities, so it can harbor many fraud, waste, and abuse-related risks. How can you leverage data analytics and forensic accounting to combat these risks?
During the Transactions and Business Events Dbriefs, "Supply Chain Forensics: Identify Fraud, Waste, and Abuse in Your Organization," held on February 26, 2014, David Williams, chief executive officer of Deloitte Financial Advisory Services LLP was joined by Ben Hattingh, senior manager, Deloitte Transactions and Business Analytics LLP; Larry Kivett, partner, Deloitte Financial Advisory Services LLP; and Mark Pearson, principal, Deloitte Financial Advisory Services LLP. The presenters discussed:
- Developing tailored criteria-based processes to help evaluate the relative risk value of your vendor relationships.
- Detecting and mitigating potentially costly risks, while also identifying opportunities to boost the organization’s bottom line.
- Identifying and eliminating fraud, waste, and abuse perpetrated by your employees or your company’s vendors.
Attendees of the live webcast on February 26 responded to the following poll questions.
Has your company experienced fraud, waste, or abuse in its supply chain during the past 12 months?
Does your company have a program in place to prevent and detect fraud, waste, and abuse in its supply chain?
How often does your company monitor its third parties (i.e. supplies, shippers, etc.) to prevent and detect fraud, waste, and abuse in its supply chain?
Which would most challenge your company's ability to prevent and detect supply chain fraud, waste, and abuse?
How would you describe your organization's use of analytics to mitigate fraud, waste, and abuse risks in its supply chain?
The statements in this report reflect our analysis of survey respondents’ responses and are not intended to reflect facts or opinions of any other entities. All survey data, charts and statistics referenced and presented, as well as the representations made and opinions expressed, unless specifically described otherwise, pertain only to the participating organizations and their responses to the Deloitte survey.
This publication contains general information only and is based on the experience and research of Deloitte practitioners. Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte, its affiliates, and related entities shall not be responsible for any loss sustained by any person who relies on this publication.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
Copyright © 2014 Deloitte Development LLC.
All rights reserved. Member of Deloitte Touche Tohmatsu Limited