Policies & Procedures

Is There Such a Thing as Too Many Reports?

Reporting on additions and changes to the master vendor file is one of the best tools available to ensure that unauthorized persons are not tampering with the file and that the vendors being added or

Put Your Controls to the Test

An accounts payable department is only as strong as its internal controls. A weak segregation of duties or a lax invoice approval policy can leave your organization vulnerable to fraud. Establishing

Critical Compliance Controls for Accounts Payable: Protecting Your Company

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Are you confident that your AP transactions are not putting your company at risk? Do you have an updated and robust internal controls program that focuses on mitigating the

4 Reasons to Rethink the Way You Manage Financial Documents

If it feels like managing your financial documents is too difficult, you are not alone. Today’s digital trade and commerce environment is creating heightened document lifecycle challenges such

How to Get Your Compliance Ducks in a Row When There’s a New Law

AP departments often find themselves having to comply with new laws and regulations—whether it’s a new VAT regime or a majorly tweaked IRS regulation. To tackle such regulatory challenges and to

By Pam Miller, APMD There are many controls that can be put into place to ensure that the transactions completed are valid and that the organization is protected from deliberate fraud as well as… Read More

Vendor Master File Governance Goes Far Beyond IRS Compliance

At one time, purchasing and accounts payable used different systems, each with its own vendor master file. Purchasing’s vendor master was a tool for issuing POs, while AP’s vendor master was a… Read More

Are You Using the Best Method for Mileage Reimbursement?

When reimbursing employees for the business use of their personal cars, there are different methods you can use. You can reimburse actual costs, but you’ll need detailed substantiation and… Read More

How Much Should Your Firm Be Budgeting for Security?

The security budget is a particularly sensitive area for controllers, not just because of the threats organizations face today, but also because of the greater scrutiny of their firm’s preparedness

Disaster Recovery and AP: Reducing the Risk in a Paper-Based System

A chilling observation from Disaster Recovery Planning (disaster-recovery-planning.org) reveals that “a company that is denied access to mission-critical data for more than 48 hours will be out of