Stop Fraud From Getting a Foothold in Procurement Processes
12/1998 IOMA Supplier Selection & Management Report Stop Fraud From Getting a Foothold in Procurement Processes Are supplier partnerships spawning grounds for potential fraud activities? Robert Lindquist, in Washington D.C., a leading authority in forensic accounting, believes "familiarity" between a company and its suppliers can lead it to relax prudent internal controls. "In a partnering environment, where both sides face constant pressures to survive and succeed, the combination of weaker controls and intense business pressure can create both the opportunity and motivation for fraud," he asserts. “The awareness and management of this potential exposure is significant to effective fraud prevention,”...
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