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Internal Controls for AP/AR: 12 Practical Checks to Reduce Errors and Fraud
- Common risks in AP and AR processes
- 12 practical internal control checks for error and fraud prevention
- Verifying vendor and customer information
- Matching purchase orders, invoices, and payments
- Approval workflows and segregation of duties
- Monitoring receivable aging and outstanding payments
- Reconciling accounts and reviewing exceptions
- Preventative vs. detective controls
- Integrating controls into daily workflows efficiently
- Continuous monitoring and improvement of controls
- Auditing and compliance best practices
- Real-world examples of AP/AR control implementation
Overview of the webinar
Errors and fraud in AP and AR can have serious consequences, from financial loss to damaged stakeholder trust. Yet, many teams operate without clear checks and balances, relying on manual processes or assumptions that invoices and payments are accurate.
This session provides 12 practical internal control checks designed specifically for AP and AR. Participants will learn how to prevent common mistakes, detect potential fraud early, and maintain accurate, reliable financial records. You’ll gain tools for verifying transactions, monitoring compliance, and establishing clear approval workflows.
The course also emphasizes practical implementation. Each check is explained in simple terms with examples showing how it fits into everyday processes. Participants will see how even small improvements in internal controls can have a significant impact on accuracy, efficiency, and financial security.
Whether you’re a finance manager, accounting professional, or operational leader, this course equips you with the knowledge to strengthen your AP and AR functions, reduce risk, and protect your organization’s resources. By the end of the session, participants will have a clear, actionable framework to implement immediately, ensuring errors and fraud are minimized.
Who should attend?
- Accounts Payable Supervisors and Personnel
- Systems Consultants
- Public Accountants
- Internal Auditors
- Tax Compliance Officers
- Enrolled Agents
- Officers and Managers with Accounts Payable Compliance Oversight
- Company / Business Owners
- Managers/ Supervisors
- Public Agency Managers
- Audit and Compliance Personnel / Risk Managers.
Why should you attend?
Accounts Payable (AP) and Accounts Receivable (AR) are critical functions in any organization’s financial operations, but they are also common areas for errors and fraud. Weak internal controls can lead to duplicate payments, missed collections, fraudulent invoices, or misappropriation of funds, causing financial loss and reputational damage.
This course focuses on practical, actionable controls that managers and staff can implement immediately to strengthen AP and AR processes. By adopting a structured approach, organizations can reduce errors, improve accuracy, and safeguard cash flow.
Faculty - Mr.Justin Muscolino
Justin brings over 20 years of wide-arranging experience in compliance, training and regulations. Most recently, he served as Head of Compliance Training at Bank of China where he led the compliance training function and created and monitored the annual training plan through a thorough training needs analysis. Previously he served as Macquarie Group’s Head of Americas Compliance Training and JPMorgan Chase’s Compliance Training Manager.Justin also worked for FINRA, a US regulator, where he created Examiner University to train examiners on how to perform their function.