Accounting

Are Internal Auditors Our Adversaries or Allies?

Many AP organizations do not look upon the internal auditing/control group particularly favorably. It is, after all, the internal audit group that is charged with finding fault with AP processes,

Documentation and Auditing Challenges: Invoice-less Payments

Al Barrett, Shared Services Manager at Briggs & Stratton Corporation (Wauwatosa, WI), is dealing with a documentation challenge that presents itself when AP is undergoing an audit. Background:… Read More

Bankruptcy, Accounts Payable, and Restructuring Your Business

Like contestants competing for the number one spot on a television game show, businesses everywhere are continuously fighting to stay on top, build a plentiful jackpot, and make it to the next round

Secrets for a Successful AP Internal Audit

By Elizabeth Blackman, AP Internal Auditor "If AP is not audited on a regular basis, staff may develop workarounds that are not efficient," says AP Internal Auditor Elizabeth Blackman, NYU Langone

Are Recovery Audits Worth the Time and Trouble?

Although IOFM research shows that more than 99 percent of all accounts payable transactions are handled correctly in most organizations, some payment errors do inevitably occur—even when

Has Your Budget Process Outgrown the Spreadsheet?

"Once a business encounters budget-related issues such as version control, complex macros, formula errors, and the inability to consolidate input from a wide range of participants, it begins to make

Five Signs Your Accounting Systems Are Out of Date

According to a recent survey conducted at the CFO Leadership Summit, financial professionals believe the biggest challenges they face with their financial systems are a lack of real-time reporting

How Quickly Can You Access Archived Tax and Legal Files?

In a recent study, Aberdeen surveyed more than 100 companies on the subject of archiving, managing, and retrieving legacy data. According to Aberdeen’s research, “best-in-class” companies can… Read More

How AP Can Avoid Getting a Black Eye From the Auditors

Written Up According to the Oakland Tribune, a state audit found that because certain employee perquisites were paid through the school’s AP system rather than through payroll, not all taxable

Leverage AP to Finance Suppliers

Money. You need it, your suppliers need it, and it is becoming harder to come by. Accounts payable departments and their suppliers have opposing strategies for ensuring they have access to capital.