This comprehensive course, led by industry expert Mary Schaeffer, is designed to empower professionals in creating an effective accounts payable policy and procedures manual. Such a manual is essential for any organization striving for efficiency, fraud prevention, and regulatory compliance. Participants will gain insights into the best practices of drafting a manual that not only documents the organization's policies and procedures but also serves as an essential training and reference guide. The course covers the critical aspects of what should be included in an accounts payable manual, emphasizing the importance of clear documentation in strengthening internal controls and outlining the segregation of duties within the accounts payable function. Additionally, the course includes a sample policy outline and a checklist to evaluate current practices. This course is invaluable for professionals seeking to enhance their organization's accounts payable operations and control environment, providing them with the tools and knowledge to develop a robust and comprehensive manual.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify best practices for creating an accounts payable policy and procedures manual;
Cite how an accounts payable policy and procedures manual strengthens controls;
List what should and should not be included in the manual; and
Cite the segregation of duties requirements for the accounts payable function to be included in the policy and procedures manual.
Major Topics
The Role an Accounts Payable Policy and Procedures Manual Plays
Creating the Manual
Using the Manual
The Segregation of Duties Issue
Reviewing and Updating Your Policy and Procedures
