Internal Controls in Accounts Payable: Creating a Strong Framework and Processes (Completed)

Date: Tuesday, July 14, 2020
Instructor: Mary Schaeffer
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs

You can’t have best practices in accounts payable without strong internal controls. They are an integral part. They are also very easy to overlook. 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 deleterious bottom line impact.

Control problems can creep into the procure-to-pay at almost any point in the process. Join expert, Mary Schaeffer, as she shows you how to take advantage of instilling controls across the entire accounts payable spectrum.

Who Should Attend
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

  • 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
  • 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
  • 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
  • Integrate strong fraud prevention routines into standard AP practices

Learning Objectives

  • Identify how to take advantage of instilling controls across the entire accounts payable spectrum
  • Recognize controls that no longer work


Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites

Advance Preparation

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