AP Now Episode 34: Mary Schaeffer Discusses the People Internal Controls in AP

In this episode Mary Schaeffer, AP Now founder and podcast host, discusses five different internal controls that she believes every organization should use, but often doesn’t. She begins by skewering the myth, held by many, that their employees would never steal from them. While it is true that the vast majority of employees are honorable, there are a few bad apples in every bunch. She shares a handful of headlines she found doing a simple search to bring the point home.

She begins by discussing access to the ERP system and how many organizations ignore the issue when it comes to internal promotions. While promoting from within is generally a very good practice, it must be accompanied by the proper controls. This issue, talked about by few, is ignored by many. She also points out that similar actions should be taken when an employee leaves the organization.

Perhaps Schaeffer’s biggest complaint is the third issue she discusses. This focuses on a simple step every organization should take (but only a few do) to ensure an employee hasn’t set up a phony vendor in their master vendor file. She says this doesn’t happen often, but when it does, the results can be devastating.

Finally, she discusses some best HR practices that are frequently ignored. She concludes by noting that everything she recommends in this podcast can be implemented at no cost. Organizations simply need to modify their procedures. How many of the tactics Schaeffer recommends does your organization utilize?

Host: Mary Schaeffer (https://www.ap-now.com/)

Sponsor: Stampli (https://www.stampli.com/apnow/)

Credit: Music: https://www.purple-planet.com