SOX: Internal Controls for Accounts Payable
Overview:
This session will raise awareness of fraud issues in Accounts Payable and examine processes to mitigate the risk associated with Accounts Payable to comply with SOX. It will provide you with the tools you need to establish and maintain strong internal controls that meet Sarbanes-Oxley standards by reducing risk and protecting company assets.
Why should you Attend: Setting up controls for the purchasing process and analyzing the risk to the financial statements can be a daunting task. Since a large company has to purchase many different items every day, there is a real potential for fraud.
Areas Covered in the Session:
- Safeguarding inventory purchasing
- Examining supplier payments
- Reviewing risks associated with payroll and taxes
- Know best practices and types of approvals
- Reviewing repetitive processes
- Understanding the dangers inherent in inter-company payments
- Verifying accruals
- Assess currency issues
- Building and using audit trails
Who Will Benefit:
- Financial Managers and Controllers
- CFO’s and other Company Executives
- Accounting and Reporting Managers
- Accountants
- Auditors and staff
- Business and Operations Managers
- Anyone involved in the SOX compliance process