Fighting Procurement Fraud
Rendon, Juanita M.
Rendon, Rene G.
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The average business loses 5 percent of its revenues to fraud, while corruption and billing schemes comprise more than 50 percent of the reported fraud, according to the Association of Certifi ed Fraud Examiners. Supply management organizations that have mature procurement processes and effective internal controls are in a unique position to identify key procurement fraud indicators and help fight the war against procurement fraud in an increasingly global and vulnerable world.
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