Skip Ribbon Commands
Skip to main content
The Institute of Internal Auditors North AmericaBreadcrumb SeparatorLearning and EventsBreadcrumb SeparatorCoursesBreadcrumb SeparatorConfronting Fraud in the Construction Industry
Course Description Course Outline Bring Us On Site  

Confronting Fraud in the Construction Industry

Course Description

Print-friendly Course Description and Outline

How to identify areas of vulnerability and mitigate the risk.

Fraud, considered a macro risk, has a widespread and significant influence on organizations, and in the construction industry, fraud is a fairly common occurrence. There seems to be unlimited opportunities for fraud to occur throughout the construction life cycle. This is possible due to the large number of individuals and companies involved in a construction project. According to the Association of Certified Fraud Examiners (ACFE), opportunity for fraud is at least four times higher in the construction industry than in other industries. ACFE reports that a typical construction fraud occurrence — which may include corruption/collusion, billing, and check and payment tampering — suffers a median loss of $250,000.  Many instances of fraud go undetected — until there are money problems or a dispute.

Who will benefit from this Course?

This course will benefit internal auditors who audit, or will be auditing a construction project, as well as those individuals involved with a construction project and are responsible for monitoring ongoing construction activities. The course focuses on the various areas that are vulnerable to fraud, and will include a review of the most prevalent opportunities for construction fraud, as well as identify oversight approaches that are used to mitigate fraud risk, including:

  • Billing-type fraud/falsifying payments applications.
  • Bid and contract rigging.
  • Fictitious vendors.
  • Subcontractor collusion.
  • Change order manipulation.
  • Disadvantaged Business Enterprise (DBE) fraud.
  • Theft and substitution of materials.
  • Diverting fixed price/lump sum cost for time and material.
  • Surety Bond fraud.
  • Environmental fraud.
Course Duration: 1 day(s)
CPEs Available: 4
Knowledge Level: Intermediate
Field of Study: Auditing
Prerequisites: 
​Participants should come with a basic knowledge of the internal audit process related to construction audits.
Advance Preparation: 
​None
Delivery Method: eLearning (Group-Internet-Based); On-site Training (Group-Live)

​Course Outline coming soon. Check back frequently for updates.

​Most courses can be delivered through on-site training. You might be surprised that the organization leading the profession is just as committed to the delivery of affordable training.

Contact us by calling +1-407-937-1388 or send an e-mail to GetTraining@theiia.org.​​

LocationsDates
eLearning
eSeminar
Details and pricing
November 13,
2020