G05 – Manage Risk in the Supplier Onboarding Process (LIVESTREAM) (LIMG74/21)
As financial leaders, CPA’s are often tasked with managing organizational risk. In this respect, the supplier relationship can be a tricky one. It is often one of the more familiar and comfortable business relationships we have, yet it may also be the one that presents the most significant risk to our company. In this course, we will explore how to manage the supplier relationship from onboarding to termination. Through case studies and best practices, we will discuss how to continue being a good partner to our suppliers while also understanding where potential risks exist.
CPA’s who manage relationships with outside contractors or vendors for their organization
- Identify the basic elements in a typical supplier contract
- Recall when it is necessary to obtain a Form W-9
- Recognize company risks when working with suppliers
- Parts of a typical supplier contract
- Information Sharing with Suppliers & Non-Disclosure Agreements
- W-9’s, Invoicing, and Accounts Payable
- Insurance risks related to outside parties
- Best practices for terminating supplier relationships
This event is brought to you as part of Spring Splash.