{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Three Vendor Audits Every AP Team Should Be Running","description":"In this episode, AP expert Debra Richardson joins host Grace Berube to walk through three audits every vendor team should have in place to reduce fraud exposure. Using the real-world case of a Facebook diversity manager who stole nearly $5 million by exploiting gaps in vendor creation and invoice approval, Debra explains how segregation of duties, security access, and vendor process compliance each address a distinct vulnerability \u2014 and why doing only one or two of the three still leaves the door open. She also covers new NACHA fraud monitoring requirements taking effect in 2026 that make documented, auditable vendor processes not just good practice, but a compliance obligation. WHAT YOU\u2019LL LEARN IN THIS EPISODE How a single employee at Facebook created and approved fraudulent vendors and invoices for years \u2014 and what segregation of duties controls would have prevented it. What a segregation of duties audit covers in the vendor process, and why no one team member should be able to create a vendor, approve an invoice, and release a payment. Why a security audit goes hand in hand with segregation of duties, including how access granted years ago (or during the pandemic) may still be sitting in your system unnoticed. What a vendor process audit is, why controls tend to erode over time, and how a regular audit keeps teams following the right steps even during busy periods like month-end or year-end. How new NACHA fraud monitoring rules \u2014 and potential insurance requirements \u2014 are making it necessary to not only have vendor fraud controls in place, but to document and verify that they\u2019re actually being followed. ","author_name":"The IOFM Podcast","author_url":"https:\/\/www.iofm.com","html":"