Brandy Weldon

Day and Time: Info

Level: Basic

Prerequisite: Basic

Field of Study: Basic

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What you will learn:

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Thomas Mullinnix

Vernon Beck: From Finger on the Button to a Hand in the Cookie Jar

Day and Time: Info

CPE: 1.0

Level: Basic

Prerequisite: Basic

Field of Study: Basic

Sometimes the most seemingly forthright and honorable person may possess a darker side. Vernon Beck, a veteran Air Force pilot during the Reagan administration, who later held a prestigious role with Texas Petrochemical circumvented internal controls to benefit his business partner and himself. Greed takes over, as do the physical and mental tolls on Beck's life. Eventually, the scheme begins to unravel and the truth comes to light. Thomas Mullinnix's fraud case study will present an overview of how Vernon Beck took advantage of TPC's vendor-management controls, how his scheme was identified, and the outcome of his fraud. As part of his presentation, Thomas will walk the audience through two exercises of identifying stronger controls and processes with your organization and suppliers. 

What you will learn:

  1. Identify potential ‘red flags’ with employees who exercise too much control in the vendor-management process

  2. Identify internal controls to mitigate vendor-management fraud within your organization

  3. Establish best practices with contractors in order to minimize fraud

Thomas Mullinnix

Founder - Re-Vision Management Consulting, LLC

The Oil and Gas Vendor Audit Roundtable is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.