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As a governing entity in the supplier sourcing process, it ensures that each supplier is properly screened prior to onboarding, thereby protecting the company from risk due to fraud, fines, audits, and investigations. Once a supplier relationship is established, the AP Department continues to protect the company’s financial interests by ensuring timely invoice processing, verifying that payments are made according to agreed-upon terms, and providing a high level of customer service. This whitepaper will put you on a path to establish a best-in-class compliance and internal controls program for your AP Department. It includes requirements and recommended best practices, along with roles and responsibilities for their implementation. |
