Internal Controls in Accounts Payable

• Identify really bad accounts payable practices that weaken controls
• Pinpoint problems likely to occur if strong controls are not used in accounts payable
• Delineate problems created when segregation of duties are not set up correctly
• Demonstrate the interaction between fraud and internal controls
• Reveal internal control practices every organization should use to deter fraud
• Identify weak control practices that don't curtail duplicate payments
• Show how poor controls make duplicate payments more likely
• Pinpoint places where internal controls most commonly breakdown in the accounts payable function
• Locate places where purchase orders cause control problems
• Identify common purchase order problems and solutions to fix them
• Establish how best invoice control practices improve processing
• Recognize invoice automation control issues as they arise
• Be aware of how control issues can fall apart in the accounts payable function in the month end and year end close
• Implement the proper controls around the check production process
• Demonstrate why signature stamps represent a poor control and can cause your organization big problems
• Identify poor controls related to check request forms
• Identify controls that should be incorporated into every corporate procurement program
• Reveal best fraud control strategies for your p-card program
• Demonstrate why daily bank reconciliations are so important even if electronic payments are not being made
• Shows how a good policy and procedures manual can strengthen internal controls