The Controllership Series - The Controllers Role in Procurement Function
1.00 Credits
Member Price $39
Non-Member Price $59
Overview
The procurement function is a critical area of organizations where spend is a top priority. The Controllership function is involved in spend management. It is logical that the Controller should take a role in working with the procurement function.
The procurement function may report to various areas within an organization including the Chief Operating Officer (COO), Chief Procurement Officer (CPO), Chief Executive Officer (CEO) and the Chief Financial (CFO) or Accounting Officer (CAO). Regardless of the reporting line of the function, the accounting and controllership functions must have an integral understanding of all processes involved within procurement. This understanding assists the controller and accounting area in properly optimizing and controlling costs associated with the process.
Highlights
- Accounting
- Finance
- Procurement
Prerequisites
None
Designed For
Controllers, Accountants, CFO, Finance Professionals, Operational Professionals, Auditors
Objectives
- Defining the typical procurement process
- Defining procurement vs. the Controller’s role in purchasing
- The procurement process and its ties to the controllership process
- Examine a job description of a potential Procurement Controller
- Examine the Financial Controllers potential role in the procurement process
- Ways to synergize the Controller’s role with procurement
- Examine other potential responsibilities for the Controller
Preparation
None
Leader(s):
Leader Bios
Lynn Fountain, Sole Proprietor
Lynn Fountain, CGMA, CRMA, MBA, has over 30 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks.
Ms. Fountain has developed and delivered leading edge training sessions on the new COSO framework and has assisted companies in identifying risk gap analysis in their individual processes. She currently executes two highly recognized e-workshops for the Institute of Internal Auditors, one on Fraud and the second on Ethics. Both workshops have incorporate aspects of COSO 2013.
Ms. Fountain is in the process of authoring a publication for the IIA Research Foundation on aspects of fraud auditing. The publication is due out in 2015. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas.
Non-Member Price $59
Member Price $39