What Every Accountant Needs to Know About Master Vendor Files
Long neglected, the master vendor file is now the star of the show in corporate accounts payable practices. The emergence of new fraud controls, an increased attention to the importance of internal controls, new types of vendor portals, and heightened regulatory compliance requirements have all put master vendor file practices in the spotlight.
This session by expert speaker Mary Schaeffer will address the growing need for stronger internal controls surrounding the master vendor file as well as increased data requirements. Mary will discuss recent events that have revealed weak links in many companies' accounts payable practices, as well as procedures for verifying change requests that need to be updated.
Identify problems within existing master vendor file practices
Implement master vendor file best practices that will enable proper TIN solicitation
Identify preventable frauds through good master vendor file practices
Make master vendor file fraud-resistant
Identify and collect all data needed to run an efficient and regulatory compliant AP function
Address the segregation of duties issue correctly
Delineate between the different types of portals and decide which is the best for your operation
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...