Accounts Payable Fraud Prevention Tactics: New and Ignored Established Control Practices ON DEMAND

Overview

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 examines 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.

Highlights

Often ignored best ap control practices. New best practices that tighten controls. When best practices are lacking. The master vendor file issues. New master vendor file control issue.

Prerequisites

None.

Designed For

CPAs, controllers, accountants, financing professionals, business owners, managers and others responsible for prevention, detection, or evaluation of potential fraud

Objectives

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.

Preparation

None.

Notice

None.