Common Forms of Vendor Fraud

As you know, with the proper internal controls along with the separation of duties, setting a new vendor or update Master Vendor file will reduce exposure to fraud. Without being complacent about the fraud, You may not be comfortable with Your update process at this time. Lots of A/P stores faced with recent or anticipated A/P system and process changes that you know has or will interfere with the process of Vendor Master status quo. To obtain an increase in efficiency and productivity, A/P and procurement applications that rely on the use of internet and intranet technology to update the Vendor Master. The use of this technology should present an opportunity for A/P to increase internal control or maybe even now internal control challenges when updating the Vendor Master.Let me first address the last task. "Reality.according to the recent global Research Group and Martin Luther University in Germany, 22% of corporate fraud has increased over the past two years.Despite significant investments in internal corporate control as a result of Sarbanes-Oxley.