Internal Controls for Accounts Payable in the Modern Electric World
Date: Monday, August 4, 2025
Instructor: Robert K Minniti
| Begin Time: |
9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs |
|
Creating good cost-effective internal controls over accounts payable is more subjective than other accounting areas. There is no “one size its all” set of internal controls. New payment methods including cryptocurrencies, ap based payments, gift cards, etc. have increased risks for payment fraud. The FTC reported an 18% increase in payment fraud for 2023. The Federal Reserve Reported a significant increase in noncash payments over the last decade, and the ACFE reports check and payment tampering schemes have the highest losses of the various asset misappropriation fraud schemes. This course reviews the COSO Framework for Internal Control and discusses developing and reviewing internal controls for the accounts payable process. We will discuss using data analytics and artificial intelligence to help identify and prevent fraud losses in accounts payable
Who Should Attend
This course is appropriate for staff accountants, CPAs, CMAs, MAFFs, CFFs, CGMAs, internal auditors, CIAs, external auditors, managers, CFOs and others responsible for the accounts payable process.
Topics Covered
- COSO Framework for Internal Control
- Internal Controls
Learning Objectives
- Identify the COSO Framework for Internal Control
- Identify internal controls for accounts payable
- Identify best practices in an electronic payment world
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
