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Accounts Payable Internal Controls: How to Reduce Risk and Prevent Fraud (MLAN71F)

  Live Webinar
  60 minutes
  1:00 pm ET | 12:00 pm CT | 11:00 am MT | 10:00 am PT
Multiple Participants?
Call 1-800-223-8720
for a group pricing

Develop and Improve Internal Controls Based on COSO Frameworks to Meet Organizational Objectives

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. In addition, 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.

This session by expert speaker Patrick Haggerty will cover organized approaches to the development of internal control systems and controls based on the COSO frameworks, including risk assessment, development of the control environment, training of employees, and the objectives of the business. Patrick will also discuss how to identify opportunities to improve internal controls that aid in achieving the objectives of the business. You will be able to identify control improvements and use control principles and classification concepts to develop effective and efficient controls. You will learn how to how to develop and use detective, preventive and corrective internal controls to mitigate risk, ensure information system security and prevent fraud.

Session Highlights

NASBA Category of Study: Accounting

Level: Basic

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Presenter

Pat Haggerty is a tax practitioner, author, and educator. His work experience includes non-profit organization management, banking, manufacturing accounting, and tax practice. He began teaching accounting at the college level in 1988. He is licensed as an Enrolled Agent by the U. S. Treasury to repr... More info

 


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