Training Course
Syllabus:
Objectives of the Presentation
Identify problems within existing master vendor file practices Implement master vendor file best practices that will enable proper TIN solicitation Identify preventable frauds through good master vendor file practices Make master vendor file fraud-resistant Identify and collect all data needed to run an efficient and regulatory compliant AP function Address the segregation of duties issue correctly Delineate between the different types of portals and decide which is the best for your operation
Why Should you Attend
Do employees who create purchase orders (POs), process invoices or handle checks make changes in the master vendor file? Do you allow those entering data into the master vendor file to enter it as they see fit? Does your organization keep vendors in the master vendor file indefinitely, once they have been entered? Are your vendors permitted to provide whatever information they feel is appropriate? Does your staff simply make the best of it when entering a new vendor into your file? Are vendors entered into the master vendor file whenever an employee notices one missing? If you answered YES to one or more of the above questions, you need to tighten up your policies. These are not the only potential problems, but the most common ones. This session by expert speaker Mary Schaeffer will address the growing need for stronger internal controls surrounding the master vendor file as well as increased data requirements. Mary will discuss recent events that have revealed weak links in many companies´ accounts payable practices, as well as procedures for verifying change requests that need to be updated. Areas Covered
Problems within existing master vendor file practices Master vendor file best practices Enable proper TIN solicitation Frauds that can be prevented Make master vendor file fraud-resistant Collect data needed to run an efficient and regulatory compliant AP function Segregation of duties issue Different types of portals |