We operate in a paperless environment. Internal controls are more critical in a paperless environment. During COVID-19 companies have deployed employee in remote locations. This “work from anywhere” WFA environment makes internal controls more difficult as events & activities are not performed in central locations. We must rely on technology to combine them to a central platform. Accounts payable is moving to a transactions-based processing environment to replace the outdated documents processing environment.   It all starts with accounts payable since it is at the core of all other company processes, systems & functions. Hence accounts payable must drive all internal control elements of awareness and concern. 80% of all transactions are processed through accounts payable. COVID-19 has caused a significant increase in fraud waste & misuse. Robust internal control policies and procedures must the created to cope with the transactions-based accounts payable

COVID-19 has created situations that will remain in a revamped environment. We must take the lessons learned during COVID-19 to re-imagine processes & internal controls in a post COVID-19 environment. The transactions-based environment requires companies to be proactive rather than reactive and interact with transactions in real time to achieve the goals of internal controls

This Webinar looks at best practices in accounts payable to include:

• Institutional framework.
• Foundation & Core Principles.
• Best Procession Practices.
• Interactions & Interfaces.
• Technology as an Enables.
• Organizational & Functional Awareness.
• COVID-19 Concerns & Challenges.
• Impact of “work from anywhere” environment.
• Technology as an enabler to transactions-based processes & inhibitors to fraud waste & misuse accelerated under COVID-19 “work from anywhere” environment.