Audit-ready AP: How CFOs can strengthen controls and prevent fraud before it happens

No one in finance wants to be the reason a company fails an audit. But in today’s risk landscape, that’s exactly the position many CFOs are finding themselves in — caught between growing regulatory expectations and increasingly sophisticated B2B payment fraud.  

Public and private companies alike are facing heightened scrutiny around internal controls, particularly under SOX compliance. Yet as fraud tactics evolve, traditional defenses haven’t kept pace. And as the stakes climb, CFOs are being held personally accountable for financial outcomes and the systems designed to protect them.   

The compliance trap  

Many accounts payable (AP) teams are working with outdated systems that weren’t built for modern audit demands. Paper-based approvals, scattered email chains, and static ERP reports slow operations and increase exposure to risk.  

Without real-time audit trails or automated enforcement of internal policies, it’s all too easy for key actions to go unrecorded or go unreviewed. As audit timelines tighten and regulations shift, gaps in documentation and internal process visibility have become major liabilities.  

Even worse, the same weaknesses that derail audits are the ones bad actors exploit. Weak controls make for easy targets, and today’s fraudsters know exactly where to look.  

How oversight gaps open the door to fraud

Accounts payable fraud risks are most acute where workflows lack structure. And that’s exactly where too many AP processes still fall short.  

Here’s where things tend to break down:  

• No approval workflows: Without consistent, enforced sign-off policies, unauthorized payments can move through the system without detection.  

• Insufficient separation of duties: When one person can create, approve, and release a payment, oversight vanishes — and risk skyrockets.  

• Vendor master file vulnerabilities: Outdated or unverified vendor information opens the door to business email compromise and payment redirection fraud.  

These widespread scenarios often lead directly to audit failures and financial losses. And they point to one thing: the urgent need for smarter, more secure systems.  

What CFOs need in a modern AP system  

Today’s finance leaders need assurance that every payment is authorized, every exception is tracked, and every policy is enforced — all within a system that supports consistency and control.  

A truly audit-ready AP platform should include:  

• End-to-end visibility across invoice intake, approvals, payment scheduling, and audit logs  

• Secure payment rails that include controls for exceptions, anomalies, and duplicate payments  

• Embedded audit documentation that aligns with accounts payable rules and regulations and streamlines SOX compliance  

• Accounts payable fraud prevention controls that activate before a payment is ever made  

Corcentric’s managed AP services pair this automation with expert oversight. Policies are defined, enforced, and continually refined by experts who understand both fraud tactics and what audit success requires.  

A new standard in Compliance-as-a-Service

Compliance has become a competitive advantage for finance teams that treat it as a strategic priority. Companies that build resilience into their AP function can move faster, take smarter risks, and sleep better knowing they’re protected.  

This is where Corcentric delivers real strategic value. The solution goes beyond standalone tools, offering a full-service model that blends AP automation with human expertise — a model we call Compliance-as-a-Service.  

By combining modern software with embedded oversight, Corcentric helps finance teams get ahead of both auditors and fraudsters. Whether you’re formalizing internal policies or responding to a regulatory change, the support is already in place — backed by decades of process knowledge and a platform designed to adapt.  

The CFO takeaway  

Accounts payable fraud detection shouldn’t begin after money goes out the door. With the right structure in place, CFOs can strengthen controls, reduce exposure, and turn AP into a shield instead of a soft spot.  

The risks are real. But so is the opportunity — to lead with confidence, defend against fraud, and pass every audit without scrambling.  

Protect your business with proactive accounts payable fraud detection. Contact Corcentric today to see how our managed services can strengthen your internal controls and support audit-ready operations.