Learn Best Practices for AP Compliance to Avoid Fines and Penalties
An industry expert notes, “Most CFOs aren't concerned about compliance—unless there's an auditor at the door, it's just not a priority for them.” Unfortunately, by then it's too late. The fines and penalties, and aggravation are sure to follow—unless the accounts payable and/or accounting departments are doing their jobs. When it comes to regulatory concerns affecting the accounts payable function, 1099 and 1042 reporting is just the tip of the iceberg. There's a lot more that must be done. If not, your organization could run into trouble with the IRS, various state regulatory bodies, the Department of Justice, Treasury and more. Negative publicity, fines, penalties, and in a few cases, jail time are some of the fallouts that could result from ignoring these issues. When it comes to these matters the governing bodies have no senses of humor and ignorance is no excuse.
In this session expert speaker Mary Schaeffer will review what every organization should be doing when it comes to OFAC, FCPA, ACA, IRS T&E rules, use tax and unclaimed property, and more. The session will include a quick explanation of each issue along with why these are likely to be issues that should be addressed. It will also contain a checklist of items for each issue showing what every organization should be doing with regard to each matter.
After this session you will be able to:
Understand which regulatory issues you need to address
Identify potential shortfalls in your operation as they relate to regulatory issues
Fix regulatory operational loopholes in your operation
Recognize which regulatory issues you need to investigate further
Create processes to ensure regulatory compliance for your organization on all issues applicable to the payment function
Mary S. Schaeffer, a nationally recognized accounts payable expert, founded AP Now, a membership organization focused on creating business intelligence around the accounts payable and payment function. She has written 18 business books and is a frequent and popular speaker at both online and live ev...