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Procurement Cards (P-Cards) - Fraud Detection, Prevention, and Deterrence

Overview
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 spotlights the role of the P-Card Administrator and provides the 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 make an immediate impact at your company.
Why should you attend this webinar?
Overall, 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. But a P-Card program can create additional fraud risk and requires "robust" policies, procedures, and internal controls. The instructor will provide concrete examples of P-Card fraud and the controls that can prevent the fraud from occurring. 
Areas Covered in the Session:
  • Why Implement a P-Card Program?
  • P-Card Usage and Fraud Statistics
  • Your Critical P-Card Policies and Procedures
  • Your Best in Class Internal Controls Program
  • Your Ten Tips for Success
  • What Went Wrong? A Case of P-Card Fraud
  • Q & A
Who can Benefit:
  • CFOs 
  • Controllers
  • Procurement Professionals
  • Accounts Payable Managers and Directors
  • P-Card Administrators and Program Managers
  • Internal Control Managers and Team Members
  • Internal Auditors


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