- NY Credits : 2.0
- TX Credits : 2.0
Vendor Data and Compliance Issues - Vetting Vendors
This course is designed to make you aware of some of the more common issues related to dealing with vendors in relation to the payment process. The course will not only delve into the traditional vendor master file issues but takes a look at the new vendor portals being promoted by the provider community. They are in use in a growing number of organizations. The course examines the issue no one likes to talk about: supplier fraud. It provides insights on both preventing and detecting the problem.
This course provides a general review of vendor vetting from a broad perspective. This course is appropriate for the professional at any organizational level.
Upon successful completion of this course, the user should be able to:
recognize the impact of world events into the ongoing vendor file practices,
identify problems that is likely to occur if the potential for fraud is ignored,
identify issues of ownership of the master vendor file into the decision on where responsibility for it should lie,
identify controls needed around the vendor master file,
recognize the importance and use of IRS' TIN Matching program into the vendor set-up routines,
understand the problems that can arise if games are played with TIN Matching and how to avoid them,
identify controls into accounts payable process to prevent payment fraud,
recognize practices to include open credit recovery in the regular process,
identify ways to improve vendor relations, and
implement best practices and clues that will help weed out fraudulent invoices.