This purchasing and accounts payable training will focus on why you should do recovery and contract compliance audits as well as some specialized audits as they can significantly enhance your bottom line. They can also help you learn how to improve and enhance controls to reduce future risks and exposure.
Few companies do specialty audits and contract compliance audits. Specialty and contract compliance audits are typically more complex but can identify and recover significantly more overpayments.
This webinar will provide guidance to attendees as to what can be done in-house and what should be outsourced to third party firms. You will learn how to decide what types of audits you should do, what to look for and what you can expect to recover. You will find out what you should put into your contracts and purchase orders and up-front controls that you should put in place to reduce the number and amount of errors and shorten the detection and recovery process.
Why Should You Attend:
Less than half of all companies routinely do in-house recovery audits or use third-party auditors to find and recover duplicate and other overpayments. Most of these audits focus on reviewing AP transactions. Companies that do such audits typically recover significant amounts of money, identify and implement process improvements, increase controls, reduce fraud and learn how to eliminate overpayments before funds are disbursed.Few companies do specialty audits and contract compliance audits. Specialty and contract compliance audits are typically more complex but can identify and recover significantly more overpayments.
This webinar will provide guidance to attendees as to what can be done in-house and what should be outsourced to third party firms. You will learn how to decide what types of audits you should do, what to look for and what you can expect to recover. You will find out what you should put into your contracts and purchase orders and up-front controls that you should put in place to reduce the number and amount of errors and shorten the detection and recovery process.
Areas Covered in the Webinar:
- Why You Should Do Audits
- How the Use of Recovery Audits and Contract Compliance Has Evolved
- Why Organizations Don’t Do Audits
- Audit Goals
- The Size of the Problem and Opportunities
- Type of Problems and When They Happen
- Types of Audits Including Purpose, Potential Opportunity and Key Issues
- 6 Types of Recovery Audits
- 12 Types of Contract Compliance Audits
- 8 Types of Specialty Audits
- Recovering and Eliminating Erroneous Payments
- Recovery Strategies
- Reduction and Elimination Strategies
- How to Shorten the Detection and Recovery Process
- Best Practices
Who Will Benefit:
- Accounts Payable, Purchasing and Shared Services Managers and their staff
- Controllers
- Information Technology Professionals Who Support Accounts Payable and Purchasing
- Internal Auditors
- Product Managers and Developers of ERP, Purchasing and Financial Accounting Systems
Course Provider
Jon Casher,
