This course is designed to equip participants with comprehensive knowledge and practical skills in identifying, mitigating, and preventing risks and fraud in the accounts payable (AP) process. Accounts payable departments are vulnerable to various types of fraud and errors, making it crucial for professionals to understand best practices and strategies to safeguard organizational assets and maintain financial integrity.

This course provides comprehensive insights into the common risks and fraud schemes in accounts payable, along with strategies and best practices for implementing effective controls and safeguards.

For Whom

This course is suitable for finance professionals, accounts payable managers, internal auditors, and compliance officers responsible for mitigating fraud risks in accounts payable processes

Learning Objectives

At the end the program, participants will be able to:

Identify common risks and fraud schemes in the accounts payable process.

• Explain the impact of accounts payable fraud on financial stability and compliance.
• Learn how to implement effective internal controls to prevent and detect accounts payable fraud
• Explain segregation of duties, authorization controls, and transaction monitoring techniques.
• Develop best practices for vendor due diligence and vendor risk assessment.
• Explain the importance of vendor validation and verification in fraud prevention.
• Explore technology solutions and software tools for fraud detection and prevention in accounts payable.
• Learn how to leverage data analytics and automation for proactive fraud monitoring.
• Gain insights into regulatory requirements and compliance standards related to accounts payable.
• Explain the reporting obligations and responsibilities for accounts payable fraud incidents.