Accounts Payable News^®

No-one likes to think that their organisation, or their department could be at risk from fraud – yet the fact remains that AP is one of the most vulnerable departments in this area. Quite simply, the people who work there have easy access to all the money leaving the company. So it’s in your interest to learn to detect the tale-tale signs that something suspicious is going on.

In these days of greater reliance on technology to save us from the perils of fraudulent activity, it’s interesting to consider that tip-offs and accidental discovery remain the two most pertinent methods of detection.

A year which started with economic storm clouds brewing , has seen those clouds continue to gather pace and we find ourselves in the midst of the most uncertain economic situation in living memory.  In the UK,  an already unsettled situation has been compounded by the furore surrounding the increasing public distrust in the Parliamentary system.

Clear and Effective Financial Management becomes Critical

Once considered a metaphor for complicated and cumbersome financial management, the NHS is fast becoming a streamlined operation with a clear focus on delivering quality service within budget.  As the regulator of foundation trusts has announced that he expects all NHS hospitals in England to become independent from Government control within three years – it’s more important than ever for each Trust to be able to demonstrate clear and effective financial management.

Discover the Four Key Areas Where Accounts Payable is vulnerable

Unfortunately, when it comes to fraud, the old saying “where there’s a will there’s a way” tends to ring true.  While global connectivity has brought the business world closer than ever before, it has also brought new ways to commit fraud along with it.  However, you can fight them at their own game, and turn technology to your advantage.