Accounting Processing Best Practices

Internal Controls in Accounts Payable: Part II

Course Overview:
Strong internal controls are key to any effective accounts payable function. Without such controls, fraud is easier to commit, duplicate payments increase and the function is not cost-effective. This course, Part II of a two-part series, presents information the professional can use to identify control problems and implement strong controls. Industry expert Mary Schaeffer shows auditors, controllers, and managers where control issues are likely to occur, how to strengthen controls, and best practices for a control effective accounts payable function.

Copyright © 2014 Mary S. Schaeffer. All rights reserved. No portion of this material may be reprinted, reproduced, transmitted, stored in a retrieval system, or otherwise utilized, in any form or by any means, electronic or mechanical, including photocopying or recording, now existing or hereinafter invented, nor may any part of this course be used for teaching without written permission from Mary S. Schaeffer.

Learning Objectives:

After completing this course, participants should be able to:
  • Recognize the proper controls around the check production process;
  • Recommend why bank reconciliations have to be done on a very timely basis;
  • Identify controls that should be incorporated into every corporate procurement program;
  • Select best control practices related to electronic payments;
  • Specify how controls around the master vendor file prevent fraud;
  • Determine how to control expense reimbursement fraud;
  • Define how to integrate appropriate internal controls into the use by employees of personal devices;
  • Recognize how employees tend to disguise bribes to foreign government officials;
  • Recognize control problems created when employees share passwords;
  • Recognize how a good policy and procedures manual can strengthen internal controls.

  • Prerequisites/Advanced Preparation:


    Speaker / Author:

    Mary S. Sch'ffer is editorial director of CRYSTALLUS, Inc., which publishes the Accounts Payable Now & Tomorrow newsletter and the e-zine e-AP news. After working in the finance and treasury departments of several large companies for 15 years, she turned to writing and consulting full time. She is the author of 17 business books, including 101 Best Practices for Accounts Payable, is a nationally recognized accounts payable expert and consultant and a frequent speaker at seminars, conferences and online events. She is the creator of the Institute of Financial Operations Accounts Payable Innovation Certificate program and several self-study courses for CPAs. Mary Sch'ffer has a B.S. in Math from York College and a M.B.A. in Finance from New York University. She is a member of the Authors Guild and the New York Financial Writers' Association.


    Price (USD)

    Standard: $99.80


    Course Code : 99SCH07-tx

    Release Date : 11/19/2014
    Expire Date : 02/28/2022
    Credits :
    CPE 4.00
    QAS 4.00

    Course Level : Overview
    Course Type : New Standards
    Length : 3hr 20min
    Passing Grade : 70%
    Field Of Study : Accounting
    Theme : Accounting Processing Best Practices

    Format Type : eLearning
    Mobile Compatible

    Returning Subscribers

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