Early Bird Fees (through 10/28)
After 10/28, add $50 to your fee.
CPE: 8 hours
Category: Accounting & Auditing
Advanced prep: None
Who should attend: Business owners, managers, supervisors, accountants and auditors
As an accounting professional, you are in a unique position to protect your organization from fraud and human error. Learn how to establish a cost-effective system of controls to reduce your organization’s exposure while maximizing profits. Explore the common areas for misstatements, both unintentional and fraudulent, that fall within an entity’s revenue and purchase cycles and learn how to protect your clients or company against these risks.
• Recognize common misappropriation of asset frauds in the various revenue cycles, including: accounts receivable, billing, and cash receipts.
• Identify common frauds related to different purchase cycles, including: acquisitions (ordering, receiving, and warehousing), cash disbursements, payroll, and expense reimbursement.
• Isolate areas of greatest risk.
• Set-up internal controls to mitigate assorted risks.
• Effectively respond to fraudulent financial reporting.
• Describe differences between external audit and forensics procedures and principles.
• Common fraud risks within the numerous variations of revenue, purchasing, cash receipts, and cash disbursement processes
• Analysis of controls for effectiveness and efficiency
• Estimating the cost/benefit of correcting a control weakness
• Control implementation ideas for a range of entity sizes and different industries
• Differences between external audit and forensic practices