The Controller's Role in Procurement

The session discusses the typical procurement process, the role of the Controller in purchasing, the responsibilities of a Procurement Controller, the role of Financial Controllers in procurement, and potential responsibilities.
Id: 7052
Recorded
Session
$159.00
Single Attendee
$359.00
Group Attendees

Overview:

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.

Why you should Attend:

Global economic change in the supply chain.

Areas Covered in the Session:

  • Define the typical procurement process
  • Define 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

Who Will Benefit:

  • Finance
  • Accounting
  • Compliance
  • Legal Professionals
  • Internal and External Auditors
  • Operational Companies

Speaker Profile

Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.