Internal Controls Master Plan for Accounts Payable
While most executives are savvy enough to realize they need to be concerned about payment fraud, not everyone realizes they can also experience losses if they don’t have the proper controls around all aspects of their AP function. Duplicate and erroneous payments, audit issues and lost vendor credits all have a lethal impact on the bottom line. Control problems can creep in at almost any point in the process.. Mary Schaeffer, your presenter for this session will show you how to take advantage of instilling controls across the entire accounts payable spectrum.
After this session, you will be able to:
•Identify controls that no longer work;
•Ensure your segregation of duties regime doesn’t fail;
•Create the “building blocks” of a strong internal control master plan
•Identify best control practices for the entire procure-to-pay process;
•Evaluate your own processes to identify weak controls that need tightening;
•Fix the questionable controls so fraud and erroneous payments don’t sneak through; and
•Introduce practices that are often overlooked but strengthen controls.
Mary S. Schaeffer is the founder of AP Now, a B2B organization focused on creating business intelligence around the accounts payable and payment functions. She has written 18 business books and is a frequent and popular speaker at both online and live events. Schaeffer has created a number of CPE self-study courses, customized training and online training events. She is the developer of the Accounts Payable Best Practice Certificate program. Previously she held positions as an Assistant Treasure... View Full Profile
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This program has been approved for credit hours through the HR Certification Institute. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
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