Internal Controls Practices for Accounts Payable: Design to Assess and Control Risk

This course will instruct attendees on exercising accounts payable controls needed to enhance control environment and mitigate opportunities for fraud. The instructor, a certified internal auditor and certified fraud professional, will highlight the risks associated with all key activities of the accounts payable function and detail methods to ensure compliance.

Why Should You Attend:

Accounts payable is the front line for controlling money sent out by your organization. From detecting duplicate payments, spotting fictitious vendors and identifying potential compliance issues such as FCPA violations, accounts payable staff can improve the effectiveness of the control environment or bring it to its knees.

Learn how to empower your accounts payable department to prevent overpayments and minimize fraud risk while enriching the work experience of your team. This webinar will focus on:

• Identifying risks associated with all key activities of the accounts payable function
• Learning the advantages of effective compliance training for the accounts payable team
• Exploring accounts payable controls needed to enhance control environment and mitigate opportunities for fraud
• Motivating critical personnel to enhance your control environment

Areas Covered in the Webinar:

• Understand key risks and opportunities the accounts payable team impacts. Such risks to include fraud risk, specific AP level risk, and control risk based on tone and overall philosophy in accounts payable.
• Explore the advantages and challenges of empowering your team through:
• Improved use of automated tools and reporting
• Advantages of effective compliance training for the accounts payable team
• Making the accounts payable team an integral part of fraud mitigation
• Learn how motivating these critical and often overlooked personnel can drastically enhance your control environment.
• Explore accounts payable controls needed to enhance control environment and mitigate opportunities for fraud.
• Risks associated with all key activities of the accounts payable function including new vendor set-up, changes to vendor profiles, problems with arising conflicts of interest, accelerated payments, payment requests from various sources, segregation of duties, etc.
• Explore the dangers of special projects with the accounts payable function and how to close up any exposures when projects are completed.

Who Will Benefit:

• Accounts Payable Supervisors
• Financial Controllers
• Auditors
• Fraud Examiners
• Risk Management
• Audit Executives