This comprehensive course, "Fraud Lens for Accountants—AP and AR Invoices," is essential for finance professionals seeking to fortify their organization's defenses against financial wrongdoing. Uncover the alarming statistics: organizations lose approximately 5% of their revenue to fraud annually, with the vast majority occurring in the routine, high-volume Accounts Payable (AP) and Accounts Receivable (AR) processes.
This practical course equips you with essential skills to spot red flags, implement effective controls, and protect your organization's assets throughout the procure-to-pay (P2P) and order-to-cash (O2C) cycles. You'll master how to detect and prevent common fraud schemes in Accounts Payable (AP) and Accounts Receivable (AR) processes, areas particularly vulnerable to both internal and external threats.
Through real-world scenarios and practical applications, you learn:
- P2P Fraud Prevention: Identify fictitious vendors, invoice manipulation, payment diversion, and other schemes threatening your purchasing and payables processes
- O2C Fraud Detection: Recognize lapping schemes, skimming, fraudulent write-offs, and other techniques used to manipulate sales and receivables
- Control Implementation: Design and implement powerful preventive and detective controls tailored for AP/AR functions
- Technology Applications: Leverage RPA (Robotic Process Automation) and AI (Artificial Intelligence) to strengthen fraud prevention capabilities
The course includes three valuable downloadable tools you can immediately apply in your daily work:
- P2P Red-Flag Cards: Quick reference guide for identifying the seven most common fraud indicators in AP
- O2C Red-Flag Cards: Seven warning signs of potential fraud in AR transactions
- Rapid Dilemma Tree for Daily Transactions: Four-question framework for making sound ethical decisions when facing questionable scenarios
Whether you're a CPA, accounting manager, controller, internal auditor, or finance professional, this course will enhance your ability to safeguard your organization's financial integrity throughout the P2P and O2C cycles. Join us to develop your "fraud lens" and become a stronger defender against fraud attempts in your daily accounting operations.
Prerequisites
No advanced preparation or prerequisites are required for this course.Learning Objective
- Identify and explain common fraud schemes in procure-to-pay (P2P) and order-to-cash (O2C) cycles.
- Recognize key red flags in AP and AR invoices that may indicate fraudulent activity
- Identify and implement effective preventive controls in P2P and O2C processes
- Discover and design and execute detective controls to identify fraud quickly after it occurs
- Recognize and leverage technology solutions including automation and AI to strengthen fraud prevention
- Identify and apply ethical decision-making frameworks when facing questionable transactions
Last updated/reviewed: Oct 15, 2025
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INTRODUCTION AND OVERVIEW
- Introduction to Fraud Lens for Accountants 2:18
- An Overview and Bonus Tools 5:14
- Fraud Statistics 3:54
Procure-to-Pay (P2P) Fraud Prevention
- Common Fraud Risks in P2P 10:25
- Preventive and Detective Controls for P2P 13:06
- Manual, RPA and AI Controls in O2C 10:00
- Red Flags in AP Invoices 7:30
- REVIEW QUESTIONS quiz
Order-to-Cash (O2C) Fraud Prevention
- Common Fraud Risks in O2C 10:56
- Red Flags in AR Invoices 7:46
- Preventive and Detective Controls for O2C 10:00
- Manual, RPA and AI Controls in O2C 8:16
- REVIEW QUESTIONS quiz
- Key Takeaways and Course Completion 4:24
CONTINUOUS PLAY
SUPPORTING MATERIAL
- Slides: Fraud Lens for Accountants - AP and AR Invoices PDF
- Fraud Lens for Accountants - AP and AR Invoices Glossary/ Index PDF
BONUS TOOLS
- O2C Red-Flag Cards (Accounts Receivable) PDF
- Rapid Dilemma Tree for Daily Transactions PDF
- P2P Red-Flag Cards (Accounts Payable) PDF
- ACFE 2024 Fraud Key Findings PDF
REVIEW & TEST
- FINAL EXAM exam
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