CPE: 8 hours
Category: Accounting & Auditing
Prerequisites: Basic understanding of internal control structures.
Advanced prep: None
Who should attend: Accounting and financial professionals responsible for internal control and fraud prevention and detection.
For many small businesses, maintaining an effective internal control system is a challenge and implementation of the theoretical concepts surrounding internal control is impractical. Consequently, many small businesses have internal control structures that leave them open to a heightened level of risk. This heightened level of risk combined with the use of computerized accounting software can lead to disastrous results for small business owners and managers.
This course will help you evaluate, develop and implement an effective internal control structure in a small-business setting to reduce the losses associated with fraud. It stresses the concepts of risk-based internal control to ensure that small businesses are insulated from the most significant risks. Learn technology-focused techniques to prevent and detect fraud, as well as how to secure information systems and sensitive data. You will benefit from case studies that effectively implement theoretical concepts. Examples will be demonstrated in some of the most popular small-business accounting programs, such as QuickBooks, Sage 50/Peachtree, Microsoft Dynamics GP and Sage 100.
- Recognize common small-business control deficiencies and key risk areas for small businesses.
- Identify the differences between accounting and administrative controls.
- Recognize the purpose of general control.
- Identify relevant internal control procedures over revenues, cash, purchasing, payables, payroll, inventory and fixed assets in small businesses.
- Define alternative control procedures and describe their significance in small businesses.
- Recognize how to utilize technology tools to prevent and detect occupational fraud.
- Identify opportunities to enhance security over information systems and sensitive data.
- Internal control fundamentals
- Fraud in the current U.S. business environment
- General controls and security measures
- Security controls and authentication methods
- Desktop tools for preventing and detecting fraud
- Accounting software controls