While it has always been good business practice to monitor and manage supplier risks, the stakes have increased in recent years. Now, more than ever, failing to meet regulatory requirements and expectations can mean potentially significant penalties and remediation costs, as well as serious organizational reputational exposures. Integrated into this process is the accounting for, and internal controls over, the Accounts Payable process.
WHY SHOULD YOU ATTEND?
This webinar will equip attendees with the understanding of the components of Accounts Payable and the internal controls required within the acquisition process.
AREA COVERED
In this webinar we shall cover:
- Where Accounts Payable Come From
- General Controls over Acquisitions
- Processing checks Best Procedure
- Vendor Allowances
- Accounts Payable Fraud Red Flags
LEARNING OBJECTIVES
Increasingly, Regulators look for evidence that the company reviews its own processes and controls to ensure that, for example:
- Policies and procedures are actually being followed by operational staff
- Processes are not “shelfware” (i.e., policy exists but “never comes off the shelf”)
- A strong risk management function has not deteriorated into ineffectiveness
- There is clear ownership and accountability for compliance throughout the supply chain
WHO WILL BENEFIT?
- Internal Auditors
- Financial Managers
- Purchasing and Procurement Managers
- Operational Managers
This webinar will equip attendees with the understanding of the components of Accounts Payable and the internal controls required within the acquisition process.
In this webinar we shall cover:
- Where Accounts Payable Come From
- General Controls over Acquisitions
- Processing checks Best Procedure
- Vendor Allowances
- Accounts Payable Fraud Red Flags
Increasingly, Regulators look for evidence that the company reviews its own processes and controls to ensure that, for example:
- Policies and procedures are actually being followed by operational staff
- Processes are not “shelfware” (i.e., policy exists but “never comes off the shelf”)
- A strong risk management function has not deteriorated into ineffectiveness
- There is clear ownership and accountability for compliance throughout the supply chain
- Internal Auditors
- Financial Managers
- Purchasing and Procurement Managers
- Operational Managers
