Using Controls and Segregation of Duties to Build a Bullet-proof AP Operation
Date: Jun 8, 2022, WedStart Time: 10:00 AM PDT
Duration: 1 HrsBook Mark:
Topic ID: WEB01444
Controls are essential to a strong AP operation. Too many controls slow down AP operations, delaying payments. Too few controls leave the organization exposed to errors and fraud. Segregation of duties can conflict with customer service needs and the desire to get work done quickly and efficiently. How do you establish the proper balance?
In this webinar, attendees will learn how to use controls and segregation of duties to build a bullet-proof AP operation without compromising the efficiency of AP operations or the ability to deliver excellence in customer service. They will also learn common controls that are ineffective, and the not-so-common controls that are the best protection against those looking to take advantage of weaknesses in the AP process.
Why Should You Attend?
During this session, the webinar presenter will discuss real cases of AP fraud and the controls that organizations later realized needed to be added to their AP operation, unfortunately too late to prevent these costly incidents. In addition to discussing good controls, he will also discuss common controls that are ineffective, provide no value, or even leave AP departments with a false sense of security while they are in reality still very much exposed.
Areas Covered in the Webinar:
- Role of AP in preventing fraud
- AP mistakes that create risk
- Risks of AP fraud
- Basics of segregation of duties
- Sample AP segregation of duties
- Overcoming common challenges in segregation of duties
- Real cases of fraud
- Vendor file controls
- Invoice approval controls
- Expense report controls
- Purchasing card controls
- Payment controls
- Ineffective/fake controls
- Preventing duplicate payments
Who Will Benefit:
- Accounts Payable Managers and Directors
- Chief Financial Officers
- Vice President of Finance
- Procure to Pay Leaders
- Shared Service Leaders
- Treasury Leaders
Brian G. Rosenberg
Brian G. Rosenberg, CEO of TRG Consulting, is a leading expert in AP automation and process improvement. He has over 15 years in the design of accounts payable shared service centers, and nearly 20 years of experience with implementation of accounts payable solutions. Mr. Rosenberg is also the chairman of the editorial board for Financial Operations Matters magazine, and is a published author, and speaker, on procure-to-pay best practices.
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