Best Practices for Elevating Your Accounts Payable Internal Controls and Compliance Program

Companies that operationalize best practices into their AP processes and monitor them with internal control systems can manage the complexity, prevent transactional or closing problems, and consistently maintain the integrity of their corporate transactions.

This white paper from the Accounts Payable and Procure-to-Pay Network (APP2P) and the Institute of Finance and Management (IOFM) provides comprehensive best practices that have been implemented in proactive companies of all sizes.

The white paper extensively addresses topics and checklists for:

  • Compliance and controls roles and responsibilities for the CFO and Controller
  • 3 critical corporate controls every company needs
  • Explanation of optimal supplier onboarding processes
  • Steps to detect and prevent fraud
  • Internal controls for AP Record to Report (R2R) processes
  • A comprehensive compliance guide including controls, AML, and tax

About the Author

Chris Doxey, CAPP, CCSA, CICA, CPC, spent most of her career implementing leading financial processes and internal controls at Digital Equipment Corporation, Compaq Computer Corporation, Hewlett Packard, MCI, APEX Analytix, and BSI. She is president of Doxey, Inc. and works with the IOFM as a trainer and consultant.

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