Founder of the now bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried now faces an additional criminal charge on an issue that should be of great interest to accounts payable, payment and accounting professionals everywhere. He has been accused of violating the Foreign Corrupt Practices Act, or the FCPA. In this episode we answer a few questions about the Act and how it applies to EVERY single organization. FCPA compliance is mandatory. Make sure and stick around until the end when we share a few places where AP might find potential violations that might elude others in the company. #FCPA #ForeignCorruptPracticesAct #accountspayable
The accounts payable invoice process is critical to the success of the accounts payable function. The three-way match concept is the standard approach used in accounts payable departments across the country, or at least those that use accounts payable best practices. It involves comparing the purchase order vs invoice and the receiving document and is a strong accounts payable internal control.
Link to Questionable Employee Expense Reporting Habits that Could Cost Your Company Dearly
https://youtu.be/zfimnwx64IE
Link to the Avoiding Duplicate Payment playlist
https://youtube.com/playlist?list=PLtL6rWSXZ-Hfm-G5d8-CpBsC3xi-nQTn2
Link to Vendor Credits: Why They May Be Disappearing and How to Stop It
https://youtu.be/Kog6wm8lr_k
Link to AP Now’s Invoice Series
https://youtube.com/playlist?list=PLtL6rWSXZ-HeE6BWKJaVwVMsri7UfQ4vh
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Learn more about AP Now at www.ap-now.com Host:
Host: Mary Schaeffer (www.ap-now.com)
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