Mastering AP Internal Controls: How to Reduce Risk and Prevent Fraud
Speaker: Patrick Haggerty
Speaker Designation: Owner, Tax and Consulting Services
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Speaker: Patrick Haggerty
Speaker Designation: Owner, Tax and Consulting Services
With the increase in asset losses as a result of fraud schemes targeting accounts payable, account payable professionals with the knowledge and skills to identify control risks and recommend appropriate solutions are in high demand.
This webinar training will explain the process of internal controls in account payable operation as per COSO framework, why it is required and how to effectively implement it across organization. Participants will learn how to master internal AP controls: preventive and corrective, to mitigate risk, ensure information system security and prevent fraud.
Accounts payable is in charge of not only controlling the cash paid by the company, but also of handling sensitive vendor information such as tax ID numbers. Internal control is a critical component of accounts payable operations. Controls protect company assets, including company reputation, by safeguarding sensitive information and processes. Controls ensure that company records are correct and complete. They monitor compliance with company policy as well as legal and contractual obligations, and they track progress toward organizational goals.
In addition, controls can result in cost savings by assessing and improving operational efficiency, as well as preventing, detecting, and mitigating errors and fraud.
This webinar will provide valuable insight for:
Pat Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to represent taxpayers at all administrative levels of the IRS and is a Certified Management Accountant. He has written numerous articles and a monthly question and answer column for payroll publications. In addition, he regularly develops and presents webinars and presentations on a variety of topics including Payroll tax issues, FLSA compliance, information returns, and accounting.