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.
DESIGNED FOR
Business owners, managers, supervisors and accountants and auditors.
BENEFITS
- Distinguish some of the major revenue recognition principles used by different entities
- 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
- Estimate areas of greatest risk
- Identify internal controls to mitigate assorted risks
- Distinguish differences between external audit and forensics procedures and principles
HIGHLIGHTS
- Common fraud risks within the revenue, purchasing, cash receipts and cash disbursements 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
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- *AICPA members deduct an additional $30 from applicable price.
NJCPA Goes Green - Registrants Save $20
New for 2018, course materials will be distributed electronically and we're passing the savings along to you. All 8-hour seminar pricing has been reduced by $20. To access, visit your My Events page. Download to your laptop or tablet prior to your seminar. Handouts are added as received.