Market Areas > Corporate Finance > AP Fraud Detection

Automated Internal Controls for AP: Best Practices to Minimize Risk and Eliminate Errors

Course Description:

SOX violations, fraud, human error…can your AP department prevent these problems?

Like it or not, without a strong internal control system you simply can’t protect your business operations from these costly issues. 

Find out how you can dramatically reduce risks, practically eliminate mistakes, and minimize your exposure by setting-up a system that will automatically flag potentially troublesome transactions before they occur.

Join CCM and anti-fraud and audit expert, Rich Lanza, in this invaluable audio program to learn how your organization can develop automatic anti-fraud procedures to help you identify, prevent and detect risks early, saving your organization time and money.

In just 75 minutes, Mr. Lanza will discuss how to:  

• Identify the most effective procedures to implement based on your specific situation.
• Automate each procedure in an anti-fraud program and controls.
• Identify the most risky frauds for investment of automated routines.
• Align to these frauds precise and close proximity reports to maximize findings.
• Assign the appropriate software to the task at hand, including a detailed look at data analysis techniques including financial statement analysis, data mining, spreadsheet audit tools, and external benchmarking.
• Use a combination of statistical, data visualization, and filtering tools.
• Set a priority model for sorting the results for actual review and testing.
• Recognize the top red flags of fraud for top business processes.
• The importance of AP internal controls as gatekeeper to your company’s financials and Sarbanes-Oxley compliance.
• How utilizing a defined process to review your AP operations can help you:
• Understand and identify key risks of error and fraud
  • Categorize all controls within your environment to mitigate the risks
  • Focus on those key controls that “keep the ship afloat”
  • See where you can automate controls for improved efficiency
  • Reduce controls that are inefficient or duplicative
  • Set an ongoing plan for ensuring controls are effective

Rich will also explain the relationship between anti-fraud and PCAOB Standard #2, as well as what CPA firms look for when they review your fraud risk assessment. 

Plus, you’ll get the answers to your specific questions in the live Q&A session following the presentation.

Featured Faculty:

Rich Lanza (CPA /CITP, CFE, PMP) President of Cash Recovery Partners, LLC

Rich helps companies identify their hidden financial assets, mostly using technology and referring them to specialists. He has a decade and a half of experience in audit technology and recovery auditing, becoming a leading authority in these areas. His free website, www.findmillions.net, helps companies to identify cost recovery and prospective savings in all areas of their business.

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this conference that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Unable to Attend?  Order the CD!
Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

Each CCM event presents a variety of information and is presented for each organization to develop its own approach and methodology.