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The Controller’s Role in Procurement 1.5 Credits

The Controller’s Role in Procurement 1.5 Credits

The Controllership Series

  • Rating

    4.5
  • Reviewed on

    February, 2024
  • Subject Area

    Accounting

Select your learning mode

  • Access the course at your convenience
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  • Get your certificate
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  • Get your certificate

Nov 22, 2024 | 01:00 PM ET

Learning Objective

  • Define the standard procurement process, and compare procurement with the Controller’s purchasing role.
  • Analyze how the procurement process connects with controllership.
  • Review a Procurement Controller job description.
  • Explore the Financial Controller’s involvement in procurement.
  • Identify strategies to integrate the Controller’s role with procurement responsibilities.
  • Examine other potential responsibilities for the controller.

Course Overview

Are you looking to optimize spending management and control costs within your organization? Look no further than the crucial collaboration between the procurement function and controllership. 

Our Controllership Series Unveils the Power of Collaboration in Procurement. The procurement function is a critical area of organizations where spend is a top priority.  The Controllership function is involved in spending management.  Logically, the Controller should take a role in working with the procurement function.

The procurement function may report to various areas within an organization including the Chief Operating Officer (COO), Chief Procurement Officer (CPO), Chief Executive Officer (CEO), and the Chief Financial (CFO) or Accounting Officer (CAO). Regardless of the reporting line of the function, the accounting and controllership functions must have an integral understanding of all processes involved within procurement.  

Major topics:

  • Defining the procurement process
  • Defining the procurement vs. The controller’s role
  • The procurement process and its tie to the controller’s role 
  • Creating synergies
  • Other potential responsibilities

Join this CPE Accounting webinar we will provide valuable guidance to the controller and accounting teams in effectively optimizing and controlling costs associated with the process.

  • 1.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 1.5 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
  • 1.5 CPD Credit of Accounting for CPA in Canada
  • 1.5 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 1.5 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 1.5 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
  • 1.5 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 1.5 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 1.5 PL Credit of Accounting for Chartered Financial Analyst (CFA)
  • 1.5 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
  • 1.5 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
  • 1.5 CPD Credit for Association of Chartered Certified Accountants (ACCA)
  • 1.5 CPD Credit for Chartered Accountant - ICAEW
  • 1.5 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
  • 1.5 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)
  • 1.5 CPE Credit of Accounting for Iowa Licensed Public Accountant (IA-LPA)
  • 1.5 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
  • 1.5 PL Credit of Accounting for CIPM
  • 1.5 CPE Credit of Accounting for Maine Licensed Public Accountant (ME-LPA)
  • 1.5 CPE Credit of Accounting for Delaware Licensed Public Accountant (DE-LPA)
  • 1.5 CPD Credit for Chartered Accountants - Scotland
  • 1.5 CPD Credit for CPA - Ireland
  • 1.5 CPD Credit for Chartered Accountants - Ireland (CAI)

  • 1.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 1.5 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
  • 1.5 CPD Credit of Accounting for CPA in Canada
  • 1.5 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 1.5 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 1.5 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
  • 1.5 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 1.5 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 1.5 PL Credit of Accounting for Chartered Financial Analyst (CFA)
  • 1.5 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
  • 1.5 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
  • 1.5 CPD Credit for Association of Chartered Certified Accountants (ACCA)
  • 1.5 CPD Credit for Chartered Accountant - ICAEW
  • 1.5 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
  • 1.5 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)
  • 1.5 CPE Credit of Accounting for Iowa Licensed Public Accountant (IA-LPA)
  • 1.5 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
  • 1.5 PL Credit of Accounting for CIPM
  • 1.5 CPE Credit of Accounting for Maine Licensed Public Accountant (ME-LPA)
  • 1.5 CPE Credit of Accounting for Delaware Licensed Public Accountant (DE-LPA)
  • 1.5 CPD Credit for Chartered Accountants - Scotland
  • 1.5 CPD Credit for CPA - Ireland
  • 1.5 CPD Credit for Chartered Accountants - Ireland (CAI)

Additional Information

Credits

1.5

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance.  Lynn has held two Chief Audit Executive (CAE) positions for international companies.   In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees.  The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.

Ms. Fountain is currently engaged in her own consulting and training practice.  She has successfully executed on several consulting assignments spanning areas of accounting, risk, ERM and internal audit.  She is a highly sought-after trainer and international speaker and has produced hundreds of courses delivered through seminars, conferences and on-demand training.  She is the author of three separate technical books.  

  • Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”.
  • Leading the Internal Audit Function
  • Ethics and the Internal Auditor’s Dilemma

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials. 


On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

4.5

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Very Good

Average

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JP

Jignya Patel, CPA (US)

It gave a complete overall perspective on relationship between the Controller team and the Procurement. Each company different structure and setup including my company so I found creating synergies between the two department more valuable.

IL

Isabella Linares, CPA in Canada

This was a great video and greatly applied to my current work responsibilities.

Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
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  • Live Support
    Live Support

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