Looking back at the news over the last few months, it seems that there’s been at least one case of accounting fraud almost every week. All of which has resulted in billions of pounds lost to the UK economy and, in the cases where the fraud traces back to within the organisation itself, either a high profile exit or two - or a quiet letting go of senior, unnamed executives for less brand damaging “accounting inconsistencies.”

It’s comforting to think that if fraud exists, it exists elsewhere – anywhere in fact other than right now - in your organisation and your own department. And in fact, it’s that assumption which makes life a whole lot easier for those hoping to embark on a life of AP crime.

Of course, no-one likes to think that someone they work with could be capable of fraud, and yet the truth is – fraud happens – and it happens quite a lot. And you’re not looking for a shady character in a badly judged mac with dodgy eyebrows. Statistically it’s likely to be “John” who’s worked for the company for the last 15 years. Perhaps “John” feels entitled after all the unrecognised hard work he’s put in. Perhaps it’s his way of righting a long standing wrong. Who knows.. but most of all – John is doing it because he can.

By guest contributor, Pete Loughlin Purchasing Insight

Purchase to pay process, compliance controls, segregation of responsibilities – all things which to a business  can, and are, seen as obstacles to just getting things done. But, they’re a necessary evil without which fraud would run rife.

So what are the most common purchase to pay frauds? We can’t necessarily know which are employed most often, but based on common knowledge and a bit of personal experience we think these are good candidates for the top six.

No-one likes to think that their organisation, or their department could be at risk from fraud – yet the fact remains that AP is one of the most vulnerable departments in this area. Quite simply, the people who work there have easy access to all the money leaving the company. So it’s in your interest to learn to detect the tale-tale signs that something suspicious is going on.