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Accounts Payable Fraud : Ways to Detect and Prevent AP Fraud

Duration :

Course Description:

The passage of Sarbanes-Oxley back in 2002 forced many companies to look deeper into internal Accounts Payable controls. They realized that is was not an easy task. Implementing internal controls takes time, money, and effort. However, if fraud or missteps are uncovered, it will be worth the investment. If not, you have the knowledge that your ship is tight.

There are several approaches you can try to tighten up your A/P operations and thereby perform an internal audit: which in itself will be fruitful for future audits and investigations. These approaches require some data gathering, procedural changes, and employee education. However, the implementation of these changes should not be a burden to you, your staff, or the company.

Hear from our Speaker

Why should you Attend?

Internal fraud is has been around long before Sarbanes-Oxley and will be with us when we retire. According to the Association of Certified Fraud Examiners (ACFE), it is estimated that 5% of all revenue is lost to occupational fraud every year. Fraud is not completely preventable but there are steps you can take to systemically prevent and detect fraud on an ongoing basis.

This webinar will discuss several key areas to investigate, how to uncover fraud, and put a plan in place to prevent it going forward. We will cover duplicate payments where a simple quarterly scan can uncover potential issues. By identifying some strategic areas to review, you can educate your staff on what to look for and modify some applications, either internal or vendor developed, to identify potential hazards. With these two steps alone, you may be able to pinpoint leakages that otherwise may go unnoticed.

Other items discussed will be abnormal payment volumes, check /wire amounts, addresses, and the like. These steps can be taken to monitor, detect, and mitigate fraud in accounts payable.

Areas Covered:

Key Topics to be addressed include:
  • Duplicate Payments
  • li> Benfords Law
  • Rounded-Amount Invoices
  • Invoices Just Below Approval Amounts
  • Check Theft
  • Abnormal Invoice Volume Activity
  • Vendors with Cancelled or Returned Checks
  • Above Average Payments
  • Vendor / Employee Cross-Check
  • Vendors with a Mail Drop Address
  • Summary
The Learning Objectives of this Session are:
  • Which data to review?
  • Who could be fraudsters?
  • Differences between good payments and questionable ones
  • Where to look for typical fraudulent items?
  • Working with your vendors
  • Impact on current operations
  • What banks should do?

Who will benefit?

This webcast will be of a valuable assistance to the below audience.

  • Accounts Payable Managers

  • Payments professionals

  • Operations managers

  • Cash management product and sales staff

  • Treasury managers

  • Commercial bankers

  • Corporate treasury professionals

  • Payments network providers

  • Payments processors

Registration Options

Avail 12 months unlimited access for a single user.

Material shipped within 15 days post webinar completion & get life time access for unlimited participants.

Speaker Details

Ray Graber

Ray Graber

President, Graber Associates LLC

Ray Graber was an adjunct professor at the Carroll School of Management at Boston College where he taught graduate courses in E-Banking, the MBA Leadership Workshop, Corporate Finance, and the Financial Management of Commercial Banks.

Refund Policy

Participants/Registrants for our live events, may cancel up to 72 hours prior to the start of the live session and ComplyArena will issue a letter of credit to be used towards any of ComplyArena's future events. The letter of credit will be valid for 12 months.

ComplyArena will process refund in cases where the event has been cancelled and is not rescheduled within 90 days from the original scheduled date of the webinar. In case if a live webinar is cancelled, participants/registrants may choose between recorded version of the course or a refund. Refunds will not be processed to participants who do not show up for the webinar. A webinar may be cancelled due to unavoidable circumstances, participants will be notified 24 hours before the scheduled start of the event. Contact us via email: or call +1-888-222-5917 (Toll Free).