Implementing P-Card Policies, Procedures, and Internal Controls Best Practices

Why Should You Attend:

P-Card usage is on the rise and so are the cases of P-Card fraud. Many companies have implemented P-Cards as a means to reduce invoice volume and increase efficiency within accounts payable department and within the Procure to Pay (P2P) cycle. But the increased use of P-Cards has resulted in additional risk which creates an enhanced focus on internal controls.

This webinar will spotlight the role of the P-Card administrator and will provide twenty best practices for detecting and preventing P-Card fraud that you can immediately implement at your company. This webinar will also provide examples of critical P-Card policies and procedures that can create an immediate impact in your organization.

Areas Covered in the Webinar:

• Why Implement a P-Card Program?
• P-Card Usage and Fraud Statistics
• Critical P-Card Policies and Procedures
• Your Best in Class Internal Controls Program
• Ten Tips for Success
• What Went Wrong: A Case of P-Card Fraud
• Q & A

Who Will Benefit:

• CFOs
• Controllers
• Procurement Professionals
• Accounts Payable Managers and Directors
• P-Card Administrators and Program Managers
• Internal Control Managers and Team Members
• Internal Auditors

Chris Doxey
Consultant, ChrisDoxey

Chris Doxey, CAPP, CCSA, CICA is an independent consultant providing Internal Controls and Business Process Best Practice Solutions. She has held senior management positions in accounts payable, procurement, internal auditing, internal controls, Sarbanes-Oxley compliance, payroll, logistics, financial systems strategy, and financial integration at Digital, Compaq, Hewlett Packard, MCI, APEX Analytix, and Business Strategy, Inc. She was recruited to assist MCI (formally WorldCom) recover from their internal control challenges. She has a bachelor's degree in English, a bachelor's in accounting, a master's in business administration, and a graduate certificate in project management. Chris has written numerous articles and published two handbooks: AP Leadership Skills and Implementing a Controls Self Assessment Program for Your Account Payable Process. Chris presents at several conferences and provides a multitude of webinars each year.

Topic Background:

Overall, purchasing card spending has continued to grow in a time of continuing economic challenges. Between 2011 and 2013, purchasing card spending in North America grew from $196 billion to $245 billion. Purchasing card spending growth in the past two years in the corporate segment was higher than the government and not-for-profit segment.

Going forward, purchasing card spending growth is expected to average 10.8% per year over the 2014-2018 time frame, increasing from $245 billion in 2013 to $377 billion by 2018. Companies project an annual average purchasing card spending growth rate over the next five years (12.4%) that is higher than that projected by government and not-for-profit respondents (8.8%). The two most frequently cited reasons for expected purchasing card spending growth involve greater targeting of vendors (both for plastic card and electronic accounts payable) and an increase in the number of employees given purchasing cards.

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