In 2009, The Institute published its first-set of professional standards for the practice of accounts payable. This Professional Standards Framework is the conceptual body of knowledge that organizes the authoritative guidance for accounts payable professionals. The framework includes the official Definition of Accounts Payable, the Code of Ethics, Code of Conduct, and the Standards.
The Institute's standards are principle-focused consisting of:
- Attribute Standards
- Performance Standards
- Process Controls
- Management Reporting
- Regulatory Requirements
- Communication & Leadership
- Organization Charter
To maintain our integrity and excellence, The Institute has implemented professional standards to ensure that we:
- Provide the foundational framework to support our creed of "members helping members."
- Provide and support the educational opportunities to enhance the knowledge, professional competency, and career opportunities of our members.
- Establish standards for the accounts payable and other financial operation professions.
- Foster process improvements and best practice information sharing.
- Establish a professional code of conduct.
Practice aids - The Institute offers access to a variety of practice aids through its Resource Center to our members as a benefit of membership. Visit our Resource Center to access these tools - to include briefings, whitepapers, and policies and procedures.