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The Risk Framework: Build Strong AP Internal Controls

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Accounting

Course Description

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. Mary Schaeffer, your presenter for this session will show you how to take advantage of instilling controls across the entire accounts payable spectrum.

Learning Objectives

Upon completion of this course, participants 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;
  • 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; and
  • Integrate strong fraud prevention routines into standard AP practices.

Course Specifics

Course ID
WC1122317766
Revision Date
December 20, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

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)

Course Instructor

Mary S. Schaeffer Headshot
Mary S. Schaeffer, MBA

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 …

Mary S. Schaeffer, MBA Read More »

The Risk Framework: Build Strong AP Internal Controls

Expert Instructors
CPE CREDITS
1 Credits: Accounting

$49.00


Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.
This webcast is 1 hours in length so you must start it before 07:00 pm ET.
Start within 7 hour(s) and 23 minutes to watch today.

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
1 Credits: Accounting

Course Description

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. Mary Schaeffer, your presenter for this session will show you how to take advantage of instilling controls across the entire accounts payable spectrum.

Learning Objectives

Upon completion of this course, participants 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;
  • 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; and
  • Integrate strong fraud prevention routines into standard AP practices.

Course Specifics

Course ID
WC1122317766
Revision Date
December 20, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

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)

Course Instructor

Mary S. Schaeffer Headshot
Mary S. Schaeffer, MBA

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 …

Mary S. Schaeffer, MBA Read More »

The Risk Framework: Build Strong AP Internal Controls

Expert Instructors
CPE CREDITS
1 Credits: Accounting

Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.
This webcast is 1 hours in length so you must start it before 07:00 pm ET.
Start within 7 hour(s) and 23 minutes to watch today.

$49.00