An accounts payable internal control checklist allows you, as the CFO or financial controller of your organization, to achieve the goal of strong internal controls. Accounts payable is one of the most vulnerable areas for fraud for any business. And errors or fat finger mistakes can cost your business money, time, and embarrassment.
Accounts Payable must be managed effectively. So, how do you make sure your company is well-protected from fraudsters, tax implications, and regulatory issues? It’s all about accounts payable internal controls – critical best practices to protect your company’s assets and best interests.
Accounts payable internal control matters because the potential for things to go wrong is never that far away.
These days, companies need strong accounts payable internal control to protect themselves. Today, we’re going to explore some of the basics of accounts payable internal control and strategies, including the Accounts Payable automation checklist, and how Aavenir can help companies improve their controls.
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