ComplianceOnline

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

Instructor: Chris Doxey
Product ID: 703920
  • Duration: 60 Min

recorded version

$149.00
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Recorded Link and Ref. material will be available in My CO Section

Training CD

$299.00
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(For multiple locations contact Customer Care)
CD and Ref. material will be shipped within 15 business days

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This training program will discuss how purchasing cards (P Cards) provide a means for streamlining the procure-to-pay process, allowing organizations to procure goods and services in a timely manner, reduce transaction costs, track expenses, take advantage of supplier discounts, reduce or redirect staff in the purchasing and/or accounts payable departments, reduce or eliminate petty cash, and more. It will also illustrate how a P-Card program can create additional fraud risk and requires robust policies, procedures, and internal controls.

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

Instructor Profile:

Chris Doxey has held senior finance and controller positions at Digital Equipment Corporation, Compaq Computer Corporation, Hewlett Packard, MCI, APEX Analytix, and BSI Healthcare. 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. As a management consultant, Ms. Doxey uses her foundation of experience to provide best practices and solutions to her clients in the areas of compliance, auditing, internal controls, and fraud prevention. She also serves as the Executive Director of the Controller Certification Program for the IOFM.

Ms. Doxey 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. She 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 webinars 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:

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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