Partnership announced to raise awareness of Procurement Fraud
Intqual-pro and Forensic Procurement Partnership (FPP) have partnered to deliver new Procurement Fraud Awareness training.
Building on expertise in Counter Fraud and Fraud Prevention, following the launch of the UK’s first regulated qualifications in these specialist disciplines, Intqual-pro have partnered with FPP after recognising the significant risk Procurement Fraud presents globally.
Procurement is imperative to a company’s survival, continued growth and success, but fraud within the procurement cycle can occur at any point and is notoriously difficult to detect. It is recognised that all organisations are at risk of losing 5 percent of spend each year through Procurement Fraud – although it may be much higher.
A one-of-a-kind e-learning course launched by FPP and Intqual-pro has been developed to support organisations in building resilience to the risks posed by Procurement Fraud through increasing awareness in those working within the procurement cycle.
A spokesperson at Intqual-pro said: “Procurement processes are particularly susceptible to fraud all of which impact directly on the bottom line of any organisation and the potential reputational impact that follows. Partnering with FPP enables the building of a Procurement Fraud awareness programme that gives a metric of understanding to both delegates and their respective organisations.”
Forensic Procurement Partnership (FPP), who are the only company solely focused on merging accredited fraud and procurement expertise, highlight that despite the well-recognised threat of Procurement Fraud, in UK law there is no legal definition.
Estimated to cost individuals and business across the world $5.127 trillion each year, by collaborating with Intqual-pro, FPP are able to further build on their global success in providing organisations with appropriate strategies to increase resilience to fraud.
A spokesperson at FPP commented: “We are delighted to announce our partnership with Intqual-pro. Intqual-pro are former military and law enforcement intelligence specialists and have quickly become the UKs largest provider of OFQUAL approved and regulated, vocational intelligence qualifications having clients in over 25 countries.
This partnership is a natural progression for FPP, whilst we have in depth knowledge, we wanted to progress and evolve the Procurement Fraud Awareness package.”
The e-learning course from FPP and Intqual-pro is now available for delivery and provides an opportunity for those working in the procurement cycle to gain an in-depth understanding of recognising red flag situations, the different types of fraud and how a company is exposed to them, how to mitigate the risk of bribery and corruption, and much more.
More information can also be received by contacting Intqual-pro at email@example.com.