5-Hour Virtual Seminar: P2P Standards of Internal Controls - Preapproved by the American Purchasing Society

Why Should You Attend:

This new and exclusive certificate program will highlight the impact that the P2P process can have on an organization and will emphasize the key risks that must be considered within a P2P internal controls program. The program will follow an Internal Controls Questionnaire (ICQ) approach to the presentation material that will review each key transaction within the P2P process.

This knowledge will then be applied to the analysis of real life case studies from all the components of the P2P process that include: procurement, receiving, and accounts payable (AP). The attendees will have a unique opportunity to discuss “what went wrong” and determine the key internal controls that were missing. The instructor will spotlight the three critical corporate controls, the standards of internal control for P2P, and the top twenty controls for AP.

Attendees will learn all about the dependencies and interdependencies of the P2P process and its crucial impact on all supplier disbursements. The program will review the impact of regulatory compliance on the P2P process and will discuss current trends in the internal controls process.

Learning Objectives:

• Understand the three corporate critical controls and how to implement the policies and procedures to enforce them.
• Be able to identify the control risks and “fraud flags” within the P2P process.
• Be able to define and implement the Top Twenty Controls for the accounts payable process.
• Develop an Internal Controls Questionnaire (ICQ) for each component of the P2P process.
• Define the regulatory requirements that impact the P2P process.
• Apply concepts and tools to real life fraud case studies and define the internal control weaknesses.
• Define an action plan on how to implement a new or enhanced P2P internal controls program.
• Apply current trends in internal controls program to enable continuous controls monitoring and other best practices.
• Understanding of the material will be validated via polling questions.
• Obtain an exclusive certificate in Procure to Pay (P2P) Standards of Internal Control.

Areas Covered in the Webinar:

• Overview of the Course Material
• Learning Objectives
• Introduction to the Purchase to Pay (P2P) Business Process
• The Corporate Impact of the P2P Business Process
• Introduction to the Internal Controls Questionnaire (ICQ) and Standards of Internal Control Approach
• The Three Critical Corporate Controls
• Delegation of Authority (DoA)
• Segregation of Duties (SoD)
• Systems Access
• Component 1: Procurement
• Contract Management and Controls
• Requisition Management
• Purchase Order Management
• Procurement Case Studies
• Component 2: The Receiving Process
• Evaluation Receipt Settlement (ERS)
• Purchase Order Matching
• Receiving Case Studies
• Component 3: The Accounts Payable (AP) Process
• The Top Twenty AP Controls
• Supplier Master File
• Invoice Processing
• Disbursements
• P-Cards
• Accounting and Closing Controls
• AP Case Studies
• Component 4: Special Accounts Payable (AP) Topics
• The Impact of Regulatory Compliance on Your Supplier Master
• Anti-Corruption Controls and the Foreign Corrupt Practices Act (FCPA)
• Trends in P2P Internal Controls
• Continuous Controls Monitoring (CCM)
• Controls Self-Assessment (CSA)
• Automation
• Questions and Review

Who Will Benefit:

This certificate program will benefit professionals interested in improving the P2P internal controls program and preventing the risk of fraud in their companies. This includes:

• Procurement Managers and Directors
• Accounts Payable Managers and Directors
• Shared Service Executives
• Internal Audit Executives
• Internal Control Professionals
• Controllers
• CFOs

Instructor Profile:

Chris Doxey, CAPP, CCSA, CICA, CPC, has spent most of her career fighting fraud and implementing internal controls at Digital Equipment Corporation, Compaq Computer Corporation, and Hewlett Packard. She has held senior finance and accounting positions which allowed her to develop and implement standards of internal control for the Procure to Pay (P2P) process, financial operations and logistics. She was recruited to assist WorldCom (MCI) with the implementation of internal controls, policies, and corporate governance in 2003. She developed a program for entity level internal controls, developed ethics training plans and programs, implemented delegation of authority and segregation of duties policies, and systems access controls. Ms. Doxey uses her background and passion as a management consultant and helps her clients implement internal controls and leading practices in all areas of financial operations. She also developed the controller's certification program for the Institute of Finance and Management (IOFM) and the certified Procure to Pay (P2P) professional program for PayStream Advisors. She is a published author and sought after speaker.

She holds a BA in English, a BS in Accounting, a Master’s in Business Administration, and a Graduate Certificate in Project Management. She is a Certified Accounts Payable Professional (CAPP), holds a Certification in Controls Self-Assessment (CSA), is a Certified Internal Controls Auditor (CICA), and is a Certified Professional Controller (CPC). She has authored The Controller’s Best Practices Guide and The Controller’s Best Practices Guide to the Financial Close for the IOFM and IMA. Ms. Doxey has also published two handbooks: AP Leadership Skills and Implementing a Controls Self -Assessment Program for Accounts Payable. She writes articles, blogs, and whitepapers for professional organizations and solution providers. She also provides several webinar and presentations throughout the year. Ms. Doxey is a member of the Institute of Internal Auditors (IIA), the Institute for Internal Controls (The IIC), the Institute of Financial Operations (IFO), and the Institute of Management Accountants (IMA). She is a board member of the IMA’s Ethics Committee and Research Foundation. She is also a member of the advisory board for The IIC and is president of the Washington DC area chapter for both the IFO and The IIC organizations.

Topic Background:

The term Purchase to Pay (P2P) emerged in the 1990s and is one of a number of other buzz phrases that emerged as Internet applications became used more widely in business and accounting processes. The P2P process is an integral process for all companies; however, due to the large number of transactions within the process and the large dollars that are disbursed through the accounts payable function, the P2P business process is subject to a significant amount of risk that requires a laser focus on internal controls.

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