Securing Your Financial Operations: Internal Controls for Accounts Payable
Speaker: Patrick Haggerty
Speaker Designation: Owner, Tax and Consulting Services
![](https://corpcourses.com/storage/product/20230612123223PRODUCT.png)
Speaker: Patrick Haggerty
Speaker Designation: Owner, Tax and Consulting Services
In this webinar, we will explore systematic approaches to developing internal control systems, utilizing the COSO frameworks. The session will delve into various aspects such as risk assessment, creating a conducive control environment, employee training, and aligning control objectives with business goals. Additionally, we will provide an overview of the resources available from the IRS and the Federal Trade Commission for data security and control systems.
The accounts payable department is responsible not only for managing cash disbursements but also for handling confidential vendor information, such as tax ID numbers. Therefore, implementing effective internal controls is crucial for ensuring smooth operations. These controls play a pivotal role in safeguarding the company's assets, reputation, and sensitive information. Controls ensure that company records are accurate and complete, monitor compliance with company policies, legal and contractual obligations, and track progress towards organizational goals. Additionally, controls can help in identifying areas of operational inefficiencies, reducing costs, and preventing fraud and errors.
With the rise in asset losses through fraud schemes targeting accounts payable, accounts payable professionals who have the knowledge and skills to identify and control risks and suggest appropriate solutions are in demand.
In this webinar, you will learn how to develop and use detective, preventive, and corrective internal controls to mitigate risk, ensure information system security, and prevent fraud. You will learn methods you can use to identify opportunities to improve internal controls that aid in achieving the objectives of the business and SOX compliance.
Attending the webinar is a must for anyone responsible for managing accounts payable operations. By attending this webinar, you will gain valuable insights into how to protect your company's assets, reputation, and sensitive information. You will also learn about the importance of compliance with company policies, legal and contractual obligations, and how to identify areas of operational inefficiencies.
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.