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Validity : 14th Apr'24 to 24th Apr'24
Accounts Payables Internal Controls Best Practices in a Paperless Environment
Webinar Segments Internal Control Best Practices:
- Defined approval authority
- Separation of duties
- Rotating process responsibilities
- Maximize technical tools
- In-process approval & verification
- Control of assets & assigned responsibility
- Data management & file retention
- Independent verifications
- All in a technology-based paperless platform
- COVID-19 concerns & challenges
- Technology as an enabler to transactions based
Overview of the webinar
We operate in a paperless environment. Internal controls are more critical in a paperless environment. During COVID-19 companies have deployed employees in remote locations. This “work from anywhere” WFA environment makes internal controls more difficult as events & activities are not performed in central locations. We must rely on technology to combine them into 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 Accounts payable is moving to a transactions-based processing environment to replace the outdated documents processing environment.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 & 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 & 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 & 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
Who should attend?
- Accounts Payables Personal i.e Specialist
- Supervisors
- Managers
- Accounting Managers
- Controllers
- CFO's
- Internal Auditors
- Accounting personnel
- Cash Control & Treasury personnel
- Financial
- Stakeholders Responsible
Why should you attend?
This Webinar looks at best practices in accounts payable including:
- Institutional framework
- Foundation & Core Principles
- Best Procession Practices
- Interactions & Interfaces
- Technology as an Enables
- Organizational & Functional Awareness
- COVID-19 Concerns & Challenges
- Impact of “work from anywhere” environment
- Technology as an enabler to transactions-based processes & inhibitor to fraud waste & misuse accelerated under COVID-19 “work from anywhere” environment
Faculty - Mr.Carl Young
Carl Young is an Author, Speaker, Trainer, Consultant & Coach. He holds an MBA and completed graduate studies in Accounting and Taxations. He is a former CFO of a 275M High growth technology-based company. He has over 25 years of senior-level business management experience. He has over 25 years of training experience in finance, accounting and business management. Former CEO of his own small parts manufacturing company. Former Senior Financial Associate of a major consulting firm.
He is a member of the American Society of Corporate Controllers. Member of the Council of Experts of the investment firm Gerson & Lehrman. Member of the Society of Industry Leaders sponsored by Standard & Poors. Member of the National Association of Accountants.
An engaging & entertaining speaker and trainer who draws from his experiences as a former CFO to make relevant teaching points. Sessions are rich in content, lively, full of energy and include lots of audience interaction. He has branded himself Mr Simplicity. His goal is to make finance & accounting relevant to non-financial professionals with tools & techniques that are simple to understand and apply.
Credits
ComplianceIQ is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for [1] PDCs for the SHRM-CPSM or SHRM-SCPSM. For more information about certification or recertification, please visit www.shrmcertification.org.
HR (General) recertification credit hours toward aPHR™, PHR®, PHRca®, SPHR®, GPHR®, PHRi™ and SPHRi™ recertification through HR Certification Institute® (HRCI®). Please make note of the activity ID number on your recertification application form. For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org