Best Practices for Accounts payable fraud detection and prevention

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Information about Best Practices for Accounts payable fraud detection and prevention
Education

Published on March 13, 2014

Author: SusanPartov

Source: slideshare.net

Description

Accounts Payable (AP) is the one business function that, in many organizations, is more vulnerable to fraud than any other. That is because all funds that flow out of the organization must first pass through AP. And over time, dishonest insiders and vendors have created newer and craftier methods of stealing from organizations by exploiting control weaknesses in the AP function.

Result: It is more important than ever for management to allocate professional and financial resources to eliminating these control weaknesses. This almost always starts with learning about the types of AP fraud that can victimize your organization. It is then necessary to determine if proper controls are already in place to prevent such crimes from occurring. From there, internal audit plans must be adjusted to include tests and methodologies for identifying the red flags of possible AP fraud. This enables management to initiate further examination of suspicious findings and ultimately to apprehend offenders and remediate control weaknesses.

This webinar will guide you through each of these critical steps, leaving you with practical “how-to” guidance for minimizing your organization’s exposure to AP fraudsters.

www.onlinecompliancepanel.com 510-857-5896 Accounts Payable Fraud: Detection and Prevention Best Practices Live Webinar By Peter Goldmann, CFE Date: Tuesday, April 8 , 2014 @ 01:00 PM EST Duration: 90 minutes

www.onlinecompliancepanel.com 510-857-5896 President @ White-Collar Crime 101 LLC Peter Golamann Peter Goldmann is president of White-Collar Crime 101 LLC, the publisher of White-Collar Crime Fighter, a widely read monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud investigators. The newsletter is in its 15th year of publication under Peter’s leadership. Peter is the author of Fraud in the Markets: Why it Happens and How to Fight It, published by John Wiley & Sons, as well as four other anti-fraud books. Peter also developed FraudAware, the leading fraud awareness training program. A user-friendly learning tool, FraudAware uses seminar, Webinar and E- Learning formats to train employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct.

www.onlinecompliancepanel.com 510-857-5896 Description: Accounts Payable (AP) is the one business function that, in many organizations, is more vulnerable to fraud than any other. That is because all funds that flow out of the organization must first pass through AP. And over time, dishonest insiders and vendors have created newer and craftier methods of stealing from organizations by exploiting control weaknesses in the AP function. Result: It is more important than ever for management to allocate professional and financial resources to eliminating these control weaknesses. This almost always starts with learning about the types of AP fraud that can victimize your organization. It is then necessary to determine if proper controls are already in place to prevent such crimes from occurring. From there, internal audit plans must be adjusted to include tests and methodologies for identifying the red flags of possible AP fraud. This enables management to initiate further examination of suspicious findings and ultimately to apprehend offenders and remediate control weaknesses. This webinar will guide you through each of these critical steps, leaving you with practical “how-to” guidance for minimizing your organization’s exposure to AP fraudsters.

Why Should you Attend: Businesses suffer an average of $155,000 every time an insider commits fraud according to the Association of Certified Fraud Examiners. More disturbing: Billing schemes (perhaps the most common form of AP fraud in the financial industry) are by far the most common fraud schemes threatening organizations, making up nearly one-third of the total. Adding to the problem, check fraud is rising at a rate of 25% per year and criminals are coming up with new high-tech ways of hijacking corporate ACH(Automated Clearing House) accounts. Participants will learn how to identify varieties of AP-related fraud schemes damaging organizations of all kinds, including small businesses and non-profits, and determine how shrewd fraudsters abuse the AP process to embezzle funds for years before being detected—and how to shorten the time before discovery. The webinar will enable them to quickly recognize the red flags of AP fraud in your operations and financial records and will assist in providing cost-effective anti-fraud controls to protect against the growing army of fraudsters both inside and outside their organizations. www.onlinecompliancepanel.com 510-857-5896

www.onlinecompliancepanel.com 510-857-5896 $199 Live Session for one participant $599 Corporate Live Session Up-to 5 participants. (For multiple location please contact our customer care team) $810 Corporate Live Session Up-to 10 participants. (For multiple location please contact our customer care team $236 Recorded Session Get unlimited access to the link for six months. (For multiple licenses please contact our customer care team) $439 CD Free shipment within 72hours, from the date of webinar completion. Webinar Registration Options: Live Session Options Recorded Session Webinar On CD Super Combo Offer: Live + Recorded session @ just $310

www.onlinecompliancepanel.com 510-857-5896 Book your spot today Get free access to a recorded session of your choice at no cost for every registration. Contact Us: Susan Partov OnlineCompliancePanel 38868 Salmon Ter, Fremont California 94536 USA 510-857-5896 susapartov@onlinecompliancepanel.com www.onlinecompliancepanel.com

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