Accounts Payable Fraud Prevention Tactics: New & Ignored Established Control Practices

1 Credits: Accounting


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Accounts Payable Fraud Prevention Tactics: New & Ignored Established Control Practices

Course Level
CPE Credits

1 Credits: Accounting

Course Description

In the dynamic landscape of financial management, the overlooked aspect of internal controls in accounts payable can be a gateway to fraud. This course, led by industry expert Mary Schaeffer , shines a spotlight on this crucial area, revealing the pitfalls of neglecting established internal control practices. The problem is clear: shortcuts in internal controls are common, and the evolving nature of fraud demands constant vigilance and adaptation. The course agitates this issue by pinpointing specific problems associated with weak controls, especially concerning the master vendor file, a common target for sophisticated fraud schemes. The solution offered is a deep dive into newly identified best practices and a revision of existing ones, ensuring your organization stays ahead in fraud prevention. By the end of this course, you will be adept at identifying and implementing robust internal controls in accounts payable, transforming a potential vulnerability into a bastion of financial security.


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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Identify new control practices that will help stop fraud in accounts payable.
  • Pinpoint problems likely to occur if strong control practices in AP are ignored.
  • Delineate problems created by new types of fraud focused on the master vendor file.
  • Reveal internal control practices for the master vendor file every firm should use to deter fraud.
  • Show how poor controls make fraud more likely.
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Course Specifics

Course ID
Revision Date
May 24, 2023


Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220
Qualifies for CA Fraud: Yes
Qualifies for CA Fraud Credits: 1

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Mary S. Schaeffer Headshot

Mary S. Schaeffer, MBA, has the inimitable ability to find accounts-payable-related solutions that really work—without making a major dent in the bottom line. Armed with a degree in math and a graduate degree in finance, she takes a “roll up your sleeves and dig into the details” approach to finding solutions to those problems that cause migraines for CFOs, controllers, and managers. Fifteen years spent researching and writing about payment issues gives Mary a unique vantage point. Combine that with an almost equal amount of time spent in the corporate trenches of several large finance and treasury departments, and you’ll understand …