Effective policies and procedures in the Accounts Payable function are critical for any organization wishing to reduce or eliminate duplicate payments, prevent and detect fraud, and be cost-effective and compliant with all regulatory issues affecting the payment function. The first step in that battle is having a current, detailed policy and procedures manual. This course presents information the professional can use to create an effective manual, that not only documents the organization’s policies and procedures but can be used as a reference and training guide. Industry expert Mary Schaeffer shows auditors, controllers, and managers how to create such a manual when none exists. She also includes an outline for a sample policy as well as a checklist they can use to determine if their current policy is best practice or something less.
Learning Objectives:
▪Demonstrate how an accounts payable policy and procedures manual strengthens controls
▪Demonstrate several ways to start creating a manual from scratch
▪Demonstrate how to use the manual to address the rush check problem
▪Identify several short cuts to use when creating a policy and procedures manual
▪Prepare an action plan to review and update an old policy and procedures manual
▪Identify often-overlooked changes that will improve accounts payable procedures
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate.
Upon course completion A course evaluation form is provided for your feedback.
Participants have 1 year from the date of purchase/enrollment to complete this course
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