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 which controls are already in place to prevent such crimes. From there, internal audit plans can 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 CPE 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 with the following key topics:

This online webinar will emphasis on following key topics:

Statistical overview of the fraud problem
Who commits fraud
Lessons from AP fraudsters
COMMON TYPES OF AP FRAUD TODAY
Vendor/billing fraud schemes
Check fraud and tampering
ACH fraud
AP-vendor collusion
Vendor Email Compromise (VEC)
Kickbacks/bribery
Conflicts of interest
FRAUD DETECTION
How to Identify the Red Flags of AP fraud schemes
Additional General Detection Methods
Data analytics and automated auditing for fraud detection
Examples of fraud audit techniques at work
ANTI-FRAUD CONTROLS FOR AP
Internal Controls and Other Fraud Prevention Measures:
Who Should Manage Anti-Fraud Activities for AP
Internal Controls: Dos and Don’ts
General controls: Segregation of Duties, Delegation of Authority, Background Investigation
Specific AP Operations-Level Controls.

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Learning Objectives

To explore the “mechanics” of the most commonly committed AP frauds
To implement effective AP fraud detection techniques and implement automated audit practices to detect red flags of AP fraud
To explore how to implement best-practice Anti-Fraud Control strategies for AP
To advise management on fraud risk mitigation through transaction monitoring, technology/information technology tools and low-cost internal controls
To recommend better anti-fraud management structure (Board of Directors/Executive Management, Line Management, Compliance, General Counsel, etc.)

Recommended For

This Online CPE webinar on Auditing is recommended for CPAs, CMAs, CFEs, CFF, CIA, CRMA, CVA, and other professionals who desires to help prevents Accounts Payable fraud
This Online CPE webinar is also recommended for CPAs in Canada who wants to help their clients better manage the internal control for Accounts Payable

Who Should Attend?

Accounting and audit managers/practitioners
AP managers
Auditors
Certified Fraud Examiner
Certified Management Accountant
Certified Valuation Analysts
CFO/Controller
Compliance and ethics managers
CPA (Industry)
CPA - Mid Size Firm
CPA - Small Firm
Procurement managers and staff
Security personnel
Young CPA

Testimonial

4.3

(3)

33%

67%

Detecting And Preventing Accounts Payable Fraud

Subject Area

Auditing

Webinar Qualifies For

Selfstudy Webinars

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Overview

Course Description

Learning Objectives

Recommended For

Who Should Attend?

Additional details

NASBA APPROVED

About Presenter

Peter Goldmann, CFE

FAQ

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Testimonial

4.3