Accounts Payable: Advanced Internal Controls
Date: Thu, May 31, 2012
Time: 02:00 P.M. ET
Duration: 1 hour
Traditional internal control practices fail because they target one part of the accounts payable (AP) process or focus solely on payment fraud. Although fraud is a critical risk, far greater losses are in store for companies that fall short of implementing controls around the entire AP process.
Join Mary Schaeffer, an expert on best practices in AP operations, for an information-packed Webcast as she moves finance professionals beyond payment fraud, and focuses on mitigating financial risks associated with duplicate and erroneous payments, audit issues, and lost vendor credits -- all of which strip cash from a company's bottom line. By fortifying AP internal controls, you will help minimize losses, provide a prudent level of control, and demonstrate to senior executives and board members that your AP team is serious -- and proactive -- about stopping cash leakage.
During this Webcast, you will learn how to:
- Identify controls that no longer work in AP;
- Get to the bottom of why segregation of duties typically fails, even at best-practice organizations, and how you can prevent such failure in your company;
- Use e-payments to strengthen controls; and
- Pinpoint control issues that arise when payments are made outside AP, and how you can tighten those controls.
In addition, Mary will reveal why and how poor communication with vendors hurts a company, and demonstrate how to fix the resulting problems.
This Webcast no longer offers the opportunity to earn continuing professional education (CPE) credit. We invite you to stay tuned to CFO.com for future Webcasts that will offer attendees opportunities to earn CPE credit.
For inquiries or complaints concerning this Webcast, please call (212) 488-4708.
About the Presenter
Mary Schaeffer is a leading author on accounts payable best practices and an expert on the changing responsibilities of accounts payable operations. She is editorial director of AP Now, a leading source of accounts payable information for the business and finance community, and author of the book Accounts Payable and Sarbanes-Oxley: Strengthening Your Internal Controls (John Wiley & Sons) and 15 other business books. Before turning to writing and consulting full time, she worked in the finance and treasury departments of several large companies, including The Equitable Life Assurance Society and Olympia & York.