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How to Effectively Audit Accounts Payable

MineralTree

However, amidst today’s rapid and intricate business transactions, particularly in high volumes, managing accounts payable processes can pose significant challenges. Without proper oversight and regular checks, accounts payable can turn into a source of financial complexity and risk. What Is an Accounts Payable Audit?

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Optimizing your accounts payable workflow process

ThomsonReuters

Review your data regularly Consistent visibility into your financial data provides insight into your company’s cash flow and helps to identify bottlenecks or trends in the account payable process. It can also mitigate risk by providing an audit trail. Plus, monitor activity by date, time, and staff member.