Often-Overlooked Internal Control Breakdowns in Accounts Payable and How to Deal with Them (Course Id 902)

• Who is this course for?
  This course is intended for anyone needing Continuing Professional Education (CPE), including CPAs, accountants, and professionals responsible for internal controls and accounts payable functions.

• What is this course about or what problem does this course solve?
  The course focuses on identifying and addressing often-overlooked internal control breakdowns within the accounts payable function, which can expose organizations to fraud.

• How can the knowledge from this course be used?
  Learners can use the insights from this course to pinpoint reasons internal controls fail, identify specific problems in the payment and AP processes, and strengthen fraud prevention frameworks.

• Why is this course important to a CPA or Accountant?
  Understanding and correcting control weaknesses in accounts payable is crucial for protecting an organization’s financial assets and ensuring compliance with auditing standards.

• When is this course relevant or timely?
  This course is especially timely for professionals seeking to enhance their fraud prevention strategies and fulfill California’s fraud CPE credit requirements, with content updated as of July 31, 2023.

• How is a course like this consumed or used?
  The course is delivered as a NASBA QAS self-study text format, requiring learners to read the materials, complete review and exam questions, and pass a final exam with at least a 70% score to earn 1.0 CPE credit.

Strong internal controls are a good part of the fraud prevention framework any organization creates for the purposes of thwarting crooks. However, there are many places these controls fall down, and often they are in places where you least expect them. This is especially important when it comes to the accounts payable function. For control breakdowns in this area allow criminals easy access to the organization’s financial assets. This course takes a look at control breakdowns that are sometimes unintentionally ignored to the peril of the organization not addressing them.  The issues evaluated in this course are critical to those who want to run an efficient, fraud-resistant accounts payable function.

Please Note: These Fraud CPE credits satisfy the California Board of Accountancy (CBA) fraud requirement.

NASBA QAS - Text - NASBA Registry - 902

Course Learning Objectives

• Pinpoint the reasons internal controls fail and address them
  
• Identify the control problems in the payment process
  
• Spot the control problems in the AP process
  
• Detect common control issues around personnel

Chapter 1 - Often-Overlooked Internal Control Breakdowns in Accounts Payable and How to Deal with Them

Chapter 1 Review Questions

Glossary