Accounts Payable Internal Controls to Protect Against Fraud and Promote Efficiency (Completed)

Most professionals realize that strong internal controls go a long way towards protecting an organization against fraud. What they don’t realize is there are other benefits as well, most notably the efficiency enhancements generated by the controls. Control problems can creep into the procure-to-pay 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. It is not enough to set your controls in place and forget about them. Sadly, new frauds, new technology, new regulatory reporting requirements and evolving best practices mean the should be reviewed on a very regular basis.

Who Should Attend
Who should attend (optional) Accountants, controllers, accounting managers, auditors (internal and external), Treasurers, CFOs, CEOs, accounts payable professionals, payroll professionals, procure-to-pay professionals, and travel managers.

Topics Covered

• New internal controls
• Review of old practices
• Fraud protection
• Payment process

Learning Objectives

• 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
• Pinpoint control issues that arise when payments are made outside AP and show you how you can tighten those controls
• Introduce practices that are often overlooked but strengthen controls

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None