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.