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Anti-Fraud Controls | AP Recovery Audit Software

PROCURE-TO-PAY (P2P) ANTI-FRAUD CONTROLS

According to the Association of Certified Fraud Examiners 2016 Report to the Nations, a typical organization loses 5% of its revenues to fraud each year, with a lack of internal controls the most frequently-cited contributing factor.

Protecting the organization from increasing levels of fraud is an additional role that procure-to-pay (P2P) departments are now expected to perform, acting as a key line of defence in an overall anti-fraud strategy. The problem is, accounts payable teams do not have the time or the expertise needed to carry out extensive audits.

AP Forensics® helps P2P departments protect organizational spend by conducting multiple internationally-recognized fraud tests on accounts payable transactions and master vendor file entries, and producing a summary report which scores and ranks unusual or potentially fraudulent activities.

Now P2P teams have a comprehensive, evidence-based rundown of potential high-risk vendors or transactions at their fingertips to be able to join forces with Internal Audit, creating a strong partnership to fight fraud.

The benefits of AP Forensics:

  • Creates significant time efficiencies by running audit tests in the background
  • Early warning system flags up potential fraud
  • Increases internal controls and supports regulatory compliance
  • Highlights high-risk vendors using a unique scoring system
  • Strengthens partnership with Internal Audit by empowering AP to be part of the overall solution for fraud control
  • Reduces risk by highlighting unusual spending practices

FISCAL TransactionsP2P TRANSACTIONAL RISK
Identify areas of risk and fraud within vendor spend and transactions

FISCAL Suppliers  VENDOR RISK PROFILING
Discover vendor risk through continuous profiling

FISCAL FraudANTI-FRAUD CONTROLS
Automated testing to identify fraudulent transactions and suppliers

FISCAL ReportsREPORTING AND DASHBOARDS
Unlocking actionable insights to drive process improvement

Discover how we can make it simple

 

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