Course Description

This comprehensive course, "Fraud Lens for Accountants—AP and AR Invoices," is essential for finance professionals seeking to fortify their organization's defenses against financial wrongdoing. Uncover the alarming statistics: organizations lose approximately 5% of their revenue to fraud annually, with the vast majority occurring in the routine, high-volume Accounts Payable (AP) and Accounts Receivable (AR) processes.

This practical course equips you with essential skills to spot red flags, implement effective controls, and protect your organization's assets throughout the procure-to-pay (P2P) and order-to-cash (O2C) cycles. You'll master how to detect and prevent common fraud schemes in Accounts Payable (AP) and Accounts Receivable (AR) processes, areas particularly vulnerable to both internal and external threats.

The course includes three valuable downloadable tools you can immediately apply in your daily work:

• P2P Red-Flag Cards: Quick reference guide for identifying the seven most common fraud indicators in AP
• O2C Red-Flag Cards: Seven warning signs of potential fraud in AR transactions
• Rapid Dilemma Tree for Daily Transactions: Four-question framework for making sound ethical decisions when facing questionable scenarios
   

Learning Objectives

1. Identify and explain common fraud schemes in procure-to-pay (P2P) and order-to-cash (O2C) cycles
2. Recognize key red flags in AP and AR invoices that may indicate fraudulent activity
3. Implement effective preventive controls in P2P and O2C processes
4. Design and execute detective controls to identify fraud quickly after it occurs
5. Leverage technology solutions including automation and AI to strengthen fraud prevention
6. Apply ethical decision-making frameworks when facing questionable transactions

Learning Objectives

• Please refer to the course description for the learning objectives.

Prerequisites

• None