Accounts Payable

Fraud & Abuse

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IOFM Trained AP Hero

IOFM-Trained AP Hero Prevented Her Organization from Being Bilked for $120,000

Strong internal controls and proper training are proven deterrents to fraud. In recently reported cases, Accounts Payable professionals have been able to keep potential malicious intruders at bay,

Vendor Fraud: IOFM Training Keeps AP Pros on Their Toes

As fraud expert Rocco Lueck, Assistant Professor of Accounting and Risk Management at Hilbert College, noted at a recent IOFM AP & P2P Conference, "Accounts Payable professionals cannot

As fraud expert Rocco Lueck, Assistant Professor of Accounting and Risk Management at Hilbert College, noted at a recent IOFM AP & P2P Conference, "Accounts Payable professionals cannot completely… Read More

As Fraud Proliferates, Internal Controls Become a Priority

Alan Wenk, corporate accounts payable manager at the Performance Contracting Group in Lenexa, Kansas, believes that AP professionals can sometimes lose sight of the “whys and wherefores”

Alan Wenk, corporate accounts payable manager at the Performance Contracting Group in Lenexa, Kansas, believes that AP professionals can sometimes lose sight of the “whys and wherefores” of… Read More

How Internal Fraud Impacts Fraudsters, Businesses and Their Employees

When looking at the damaging effects of fraud on a business, three major companies come to mind: WorldCom, Enron, and Toys ‘R’ Us. In each of these cases, weak or nonexistent internal controls… Read More

We are looking to begin verifying ACH info to prevent fraud ...

Q. (cont.) Does anyone use a third party to check the account info? If so, what information is

I would like to find out what additional steps organizations are using ...

Q. (cont.) ... to validate additions or changes to banking information on ACH payments. We are

What is the best practice for making address and banking changes to insure it isn't a fraud situation?

From our advisory panel: ----- I have a process in place with my team for all remit

Five Practices to Prevent P-Card Misuse and Fraud

A common myth about purchasing cards (P-cards) is that they are easy targets for fraud and employee misuse. The pervasiveness of this myth may have convinced some organizations to resist their

It Can’t Happen Here—or Can It?

Accounts payable fraud is everywhere. And while you may be convinced it’s not happening in your department, consider this statistic: According to the Association of Certified Fraud Examiners’

Is there a document around best practice of not having your employee reimbursements within your AP module?

Our trainer and practitioner expert, Judy Bicking, says:-----While I don't know of formal

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