AP Fraud Generally Indicates a Failure to Implement Internal Controls

By Pam Miller, APMD Every time you see a headline about an employee who has stolen thousands of dollars from an employer, it invariably involves a so-called “trusted” employee who has been given entirely too much control over the AP process. Why Are Controls Necessary? There are multiple events that must take place in order for a payment to be made from AP, such as: Adding the vendor to the system; Entering the invoice into the system; Approving the invoice for payment; Creating the…