Conference Description:

Accounts payable is not only responsible for control of cash paid by the business, but also handles sensitive vendor information such as tax ID numbers. Adequate internal control is an essential element of accounts payable operations. Controls serve to protect company assets including company reputation through protection of sensitive information and processes. Controls provide assurance that company records are accurate and complete. They monitor compliance with company policy and compliance with legal and contractual obligations and measure progress toward achievement of organizational objectives.

This webinar will discuss how controls can result in cost savings through assessment and improvement of operational efficiency as well as the prevention, detection and mitigation of errors and fraud.

Learning Objectives:

Understand how the COSO frameworks provide an organized approach to development of internal control systems.
Understand how risk assessment can aid in identifying and developing effective controls.
Define preventive, detective, and corrective controls and describe examples of each type of control.
Understand the impact of the control environment and the important role that training plays in an effective control system.
Apply control classification and business objectives in the identification of risks and appropriate controls.
Know the SEC’s five key principles of a sound data security plan and how to apply them to protect sensitive data.
Identify opportunities to automate controls and improve efficiency and accuracy.