Course Description

Synopsis:

This module presents the highlights of "Behind Closed Doors - Exposing Anti-Competitive Practices from Bid Rigging" held as a Lunch Talk by ISCA in December 2024.

Procurement bid rigging is a serious fraudulent practice in which colluding companies submit manipulated bids to disrupt fair competition, resulting in inflated costs, reduced quality, legal repercussions, and a loss of trust and efficiency in the procurement process. 

This recorded webinar aims to equip participants with a clear understanding of bid rigging, its impact on market competition, and how to detect and prevent it. Through real-life case studies and practical insights, participants will learn to identify red flags in procurement processes, implement effective detection techniques, and adopt best practices to ensure transparency and compliance in their organisations. 

Module Coverage:

• Introduction to Bid Rigging, Key Red Flags and Indicators of Bid Rigging
• Case Study & Best Practices for Detecting Bid Rigging
• Q&A Segment
• Supplementary Material and Case Studies on Bid Rigging

By the end of this module, you will:  

• Understand the concept of bid rigging and its impact on competition.
• Recognise the common signs that may indicate bid rigging or collusion among vendors.
• Gain awareness of basic checks to determine if bid rigging may be happening in your procurement. 
• Know how to report suspected bid rigging to the relevant authorities in Singapore.

Intended For:

• Audit Professionals / PAIP 
• Finance Professionals  / PAIB 
• Public Sector Finance
• C-suite & Directors

Competency Mapping: 

• CPE Category 2 = 1.0 CPE Hour