Accounts Payables Internal Controls Best Practices in a Paperless Environment
  • CODE : CARL-0051
  • Duration : 60 Minutes
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Carl Young is an Author, Speaker, Trainer, Consultant, and Coach. He holds a MBA and completed graduate studies in Accounting and Taxation. He is a former CFO of a 275M, high growth technology based company. He has over 25 years of senior level business management experience. In addition, he has over 25 years of training experience in finance, accounting and business management.  Former CEO of his own small parts manufacturing company as well as former Senior Financial Associate of major consulting firm.

Carl is a member of the following organizations: American Society of Corporate Controllers, Council of Experts (investment firm Gersen & Lehrman), Society of Industry Leaders (sponsored by Standard & Poors), and the National Association of Accountants.

An engaging and entertaining speaker and trainer who draws from his experience as a former CFO to make relevant teaching points. Sessions are rich in content, lively, full of energy and include plenty of audience interaction. He has branded himself as Mr. Simplicity! His goal is to make finance and accounting relevant to non-financial professionals using tools and techniques that are simple to understand and apply.

We operate in a paperless environment. Internal controls are more critical in a paperless environment. During COVID-19 companies have deployed employee in remote locations. This “work from anywhere” WFA environment makes internal controls more difficult as events and activities are not performed in central locations. We must rely on technology to combine them to a central platform. Accounts payable is moving to a transactions-based processing environment to replace the outdated documents processing environment. It all starts with accounts payable since it is at the core of all other company processes, systems and functions. Hence accounts payable must drive all internal control elements of awareness and concern. 80% of all transactions are processed through accounts payable. COVID-19 has caused a significant increase in fraud waste and misuse. Robust internal control policies and procedures must the created to cope with the transactions-based accounts payable

COVID-19 has created situations that will remain in a revamped environment. We must take the lessons learned during COVID-19 to re-imagine processes and internal controls in a post COVID-19 environment. The transactions-based environment requires companies to be proactive rather than reactive and interact with transactions in real time to achieve the goals of internal controls

Learning Objective

  • Learn the value of internal controls for accounts payable in a paperless environment prevent fraud waste and misuse
  • Learn how to protect company assets, ensure adherence to company goals and objectives through internal controls in accounts payable
  • Learn the foundation-principles, best practices, interactions and organizational awareness of accounts payable internal controls
  • Learn the difficulty of establishing internal controls in a paperless environment and how technology can reduce the risks and difficulty COVID-19 Concerns and Challenges

Areas Covered

Webinar Segments Internal Control Best Practices:

  • Defined approval authority
  • Separation of duties
  • Rotating process responsibilities
  • Maximize technical tools
  • In-process approval and verification
  • Control of assets and assigned responsibility
  • Data management and file retention
  • Independent verification
  • All in a technology based paperless platform
  • COVID-19 concerns and challenges
  • Technology as an enabler to transactions based

Course Level - Beginner/Intermediate

Who Should Attend

Accounts Payable, accounting, supervisory personnel, financial stakeholders responsible for Accounts Payable

Why Should You Attend

This Webinar looks at best practices in accounts payable to include:

  • Institutional framework
  • Foundation and Core Principles
  • Best Procession Practices
  • Interactions and Interfaces
  • Technology as an Enables
  • Organizational and Functional Awareness
  • COVID-19 Concerns and Challenges
  • Impact of “work from anywhere” environment
  • Technology as an enabler to transactions-based processes and inhibitors to fraud waste and misuse accelerated under COVID-19 “work from anywhere” environment
  • $200.00

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