Day-to-day payroll operations take up the majority of time for most payroll/hr staff. There is not always enough time to reconcile and review the financial data arising from day-to-day activities. Therefore fraud can go undetected for months, even years.

So what can the average small to medium-sized business do to prevent and detect fraud? Even if you are a sophisticated large employer - your systems can still be vulnerable. The remedy starts with asking yourself the right questions:

• How widespread is payroll fraud in the employer community? How much can it cost a company?
• Who is most likely to perpetrate payroll fraud against the company?
• What are the various schemes used in payroll fraud?
• How do I prevent these schemes from succeeding?
• How do I detect fraud early?
• How does reconciliation play a part if fraud prevention?
• What are internal controls over payroll operations that, if properly developed and followed, can protect us against this threat?

Areas Covered:-

• DEFINITION AND STATISTICS - we will summarize what payroll fraud is, and present eye-opening statistics as to the danger it presents. This includes recent cases where payroll fraud was discovered and prosecuted
• 5 CATEGORIES OF PAYROLL-RELATED FRAUD - General processes that are vulnerable to employee and employer exploitation
• SPECIFIC SCHEMES - HOW TO PREVENT/DETECT - Specific schemes perpetrated time and time again. These summarize decades of fraud prevention reviews and audits. These are presented as a roadmap for your business to analyze fraud being perpetrated by your employees or owners
• RECONCILIATION BASICS - An oft-overlooked benefit of regular reconciliation is that it can detect fraud early. We will discuss the basics of payroll reconciliation
• GENERAL INTERNAL CONTROLS OVER PAYROLL - The "meat and potatoes" of fraud prevention lie in internal controls. Your speaker will share his vast experience in evaluating internal controls over payroll operations and systems. You don’t need an internal audit dept to follow the guidelines outlined in this section. Just examine what you do and how you do it - it will tell you a lot
• PAYROLL FRAUD INTERNAL CONTROLS - These are internal controls specifically designed to catch and prevent fraudulent activity
• IT-RELATED CONTROLS - These are internal controls over payroll IT systems, from professionals in the field

Why You Should Attend:-

So attend this highly informative and important webinar. A thorough review of your operations and systems for fraud will solve the following problems:

• Exposing current employees who may be perpetrating fraud against you
• Identifying weaknesses in your systems and operations that should be fixed sooner rather than later
• Providing a blueprint to tighten your systems and processes to close vulnerable windows
• Professional growth - knowledge about detecting and preventing fraud is valuable to any employer, anywhere

Who Will Benefit:-

• Payroll and HR Managers and Staff
• Compensation and Hiring Staff
• Finance and Operational managers
• Executive Staff
• Auditors and Reviewers