IAPP Launches Professional Standards for Accounts Payable

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International Accounts Payable Professionals' New Standards Framework is First for AP Profession

International Accounts Payable Professionals (IAPP) has announced the historic release of its new Professional Standards Framework for accounts payable. The guidance outlined in the framework represent the first time an official set of professional standards has been developed for the accounts payable profession. The new professional guidance section of IAPP's Web site, http://www.theiapp.org/guidance, includes the entire framework - including the official Definition of Accounts Payable, the Code of Ethics, the Glossary of Terms, and the Standards. By providing authoritative guidance, IAPP sets the bar for accounts payable efficiency, effectiveness, and professionalism and provides clear direction to AP directors, CFOs and controllers as to the core components of a well run accounts payable operation. The Standards are being released at a time when accounts payable has become a key priority for many corporate CFOs and controllers as they seek to improve cash flow and improve efficiencies.

To maintain its integrity and standards of excellence, IAPP released the professional standards to ensure that IAPP:
a)    Provides the foundational framework to support our creed of "members helping members."
b)    Provides and supports the educational opportunities to enhance the knowledge, professional competency, and career opportunities of our members.
c)    Establishes standards of the accounts payable profession.
d)    Fosters process improvements and best practice information sharing.
e)    Establishes an accounts payable and vendor code of conduct.

In the coming months, IAPP will be releasing additional practice advisories to complement the Professional Standards Framework.

About International Accounts Payable Professionals

International Accounts Payable Professionals (IAPP) is internationally recognized as the trustworthy guidance-setting association for the accounts payable profession. Serving members throughout the world, IAPP is the AP professional's global voice, chief advocate, recognized authority, acknowledged leader, and principal educator on all AP operational, regulatory, leadership, tax, control and fraud related topics. IAPP has over 70 chapters throughout the United States, Canada and the United Kingdom and provides training, conferences, knowledge sharing, AP certification, online resources, AP Matters magazine and more.

IAPP is the trusted source for Everything Accounts Payable.

For more information, visit IAPP at http://www.TheIAPP.org.

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