Master Vendor File Best Practices to Strengthen Controls and Prevent Fraud


Instructor: Mary Schaeffer
Product ID: 705884

  • Duration: 60 Min
In this webinar attendees will learn the best practices of master vendor files and how to implement it for proper TIN solicitation. Also attendees will learn how to identify the new frauds and prevent them through good master vendor file practices. Collection of TINs and TIN Matching will also be discussed.
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Why Should You Attend:

For a long time, master vendor file has not gotten the attention it deserves. The emergence of new frauds, the increased realization that internal controls really do matter and increased regulatory compliance requirements have all shined a light on less-then-stellar master vendor file practices. Now, with all the different types of vendor portals, this old workhorse is getting a lot of attention.

Recent events revealed a weak link in the practices many use with relation to their vendor file practices and even worse procedures for verifying change requests. This session is created to address the growing need for strong internal controls surrounding the master vendor file as well as the increased data requirements.

Learning Objectives:

After this session you will be able to:

  • Identify problems within their existing master vendor file practices.
  • Implement master vendor file best practices that will enable proper TIN solicitation.
  • Identify frauds that can be prevented through good master vendor file practices.
  • Make their master vendor file fraud-resistant.
  • Identify and collect all data needed to run an efficient and regulatory compliant AP function.
  • Address the segregation of duties issue correctly.
  • Delineate between the different types of portals and decide which is best for your operation.

Areas Covered in the Webinar:

In it, we will provide practical, implementable advice on how to deal with:

  • Master vendor file best practices
  • New frauds and how to prevent them
  • Collection of TINs
  • IRS TIN Matching
  • Headaches greatly minimized by using TIN Matching
  • Worst vendor file practices
  • Vendor portals
  • More.

Who Will Benefit:

  • Accounts payable managers, directors, supervisors, analysts, professionals associates
  • Accounting manager, assistant accounting manager
  • Controller
  • Assistant controller
  • Auditor
  • Purchasing professional
  • Vendor master manager
  • Procure2Pay manager, director
  • Payables manager
Instructor Profile:
Mary Schaeffer

Mary Schaeffer
Accounts Payable Best Practice Trainer, Writer/Content Creator, Consultant and Program Developer

Mary S. Schaeffer, a nationally-recognized account payable expert, is the author of 18 business books, a monthly newsletter, and a free bi-weekly e-zine, as well as several CPE courses for CPAs. She runs AP Now, a boutique publishing and consulting firm focused on accounts payable issues. She also serves as the Education Director for the Institute of Financial Operations. Before turning to writing and consulting she worked in the corporate world as an Assistant Treasurer for the Equitable Life Assurance Society, a Financial Risk Manager for O&Y and a Corporate Cash Manager for Continental Grain. A frequent and popular speaker at both live and online events, she has an MBA in Finance and a BS in Mathematics.

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.If you have any concern about the content of the webinar and not satisfied please contact us at below email or by call mentioning your feedback for resolution of the matter. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] call +1-888-717-2436 (Toll Free).




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