Fraud Prevention for AP and AR

Fraud is an ever present threat for AP and AR practitioners. The pages in this section will help you take appropriate steps to prevent fraud - or, understand what to do if you think you are the victim.

How to Foil Audit Confirmation Fraud

Did you know that audit confirmation letters pose a risk to your company if they are not handled properly? The Security and Exchange Commission (SEC), requires auditors to send out audit confirmation

Mobile Phone Technology: Don't Ignore the Potential Dangers of a Data Breach

Increasingly, organizations are turning to mobile technology to transfer company fls or share documents among employees from anywhere in the world. Yet mobile device use has been cited as one of the

An Embezzler in Your Midst: What to Do if You Suspect Fraud

"The number of embezzlements occurring in businesses today is staggering – and even more so when you consider that only one out of nine cases is publicized," says Stephen Pedneault, principal of… Read More

You Can't Legislate Ethical Behavior – An HR View of the Sarbanes-Oxley Act

David A. Brookmire, president Corporate Performance Strategies The implementation of Sarbanes-Oxley Act to date has been the primary responsibility of the finance function to implement and monitor.

Checks Are Chicken Feed: Fraudsters Now Want Your Whole Bank Account!

It seems like the fraudsters are getting more and more brazen every day. Copying or altering checks is no longer enough for them – they have graduated to stealing an organization's user IDs and

How to Prevent P-Card Fraud

One of the most frequent concerns senior management has about instituting a p-card program is that the cards can conceivably put the organization at risk for financial loss in the event of fraud.This

Check Fraud and 'Ordinary Care'

Current UCC Codes outline specific check fraud responsibilities for banks and corporations. Court decisions have established guidelines for legal responsibilities, and failure to meet these

Eight Ways to Safeguard Your Vendor Data

Here is a case in which $1.1 million was embezzled from a private investment firm. The accused employee had access to six of the company's bank accounts. In a period of three years, she wrote several

Forensic Accountants: When Fraud is Too Big for an Auditor

Why Auditors Aren't Enough When to Bring in the Forensic Accountant The Interview Process Other Signs You Need a Forensic Accountant Who Makes the Call? Justifying the Expense When is an… Read More

The Foreign Corrupt Practices Act of 1977: What it Means for AP

The Foreign Corrupt Practices Act of 1977 (FCPA) is a federal law that has implications for AP professionals. FCPA has two provisions: Anti-bribery: Its anti-bribery provision makes it illegal for