Common Frauds and Internal Controls for Revenue, Purchasing and Cash Receipts

• Chapter 1 - Revenue Cycle
  • Learning Objectives
  • Introduction
  • Typical Revenue System Overview
    • Introduction
    • Sales Order
    • Picking Ticket/Shipping Documents
    • Billing Cycle
    • Other Sales Transactions
  • Internal Controls in the Typical Revenue System
    • Overview
    • Segregation of Duties
    • Sales Order Controls
    • Picking/Shipping Controls
    • Billing Controls
    • Contra-Revenue Sales Transactions – Control Issues
    • Identifying Risks and Cost/Benefit of Internal Controls
    • Control Matrix – Revenue Cycle
  • Summary
  • Questions
• Chapter 2 - Other Revenue Cycles
  • Learning Objectives
  • Introduction
  • Typical Retail Revenue Cycle
    • Selecting Goods
    • Payment for Goods
    • Internal Control Issues in a Model Retail Revenue System
    • Retail Revenue System with Self-Checkout
    • Control Matrix – Retail Revenue Cycle
  • Typical Manufacturing Revenue Cycle
    • Process
    • Internal Controls in a Typical Manufacturing Revenue Cycle
    • Control Matrix
  • Service Revenue Cycle
    • Service Revenue Cycle
    • Internal Controls in a Service Revenue Cycle
    • Control Matrix
  • Summary
  • Questions
• Chapter 3 - Accounts Receivable and Billing
  • Learning Objectives
  • Overview
  • Manufacturing Entity
    • Sales Discounts
    • Aging Schedules
    • Forms
    • Cash Flow
    • Statements
    • Flowchart
    • Controls
    • Control Matrix – Accounts Receivable
  • Retail Entity
    • Controls
  • Service Entity
    • Controls
  • Summary
  • Questions
• Chapter 4 - Cash Receipts
  • Learning Objectives
  • Overview
  • Typical Cash Receipts System
    • Controls
  • Variations of Mail Receipts
  • Controls over Cash Receipts Received at the Entity
  • Cash Receipts at a Nonprofit Entity – A Faith-Based Organization
    • Controls
    • What Could Go Wrong?
    • How Can the Internal Control Weaknesses Be Mitigated?
  • Summary
  • Questions
• Chapter 5 - The Acquisitions Cycle: Ordering, Receiving, and Warehousing
  • Learning Objectives
  • The Acquisitions Cycle
  • Ordering
  • Receiving and Warehousing
  • Variations of the Typical Acquisitions Cycle
    • Evaluated Receipts Settlement
    • Damaged or Substandard Goods
  • Manufacturing Environment
  • Retail Environment
  • Services
  • Smaller Entity
  • Internal Controls in the Ordering, Receiving, and Warehousing Processes
    • Separation of Duties
    • Other Controls
  • Errors, Fraud, and Controls
  • Control Matrix
  • Summary
  • Exercises
• Chapter 6 - Cash Disbursements Cycle
  • Learning Objectives
  • Cash Disbursements
  • Typical Cash Disbursements System
    • Retail Store Example
  • Other Controls
  • Internal Controls in the Example Retail System
    • Separation of Duties
    • Other Controls
  • Errors, Fraud, and Controls
    • Separation of Duties
  • Control Matrix
  • Services
  • Electronic Data Interchange (EDI) Overview
  • Cash Disbursements Fraud Statistics
  • Cash Disbursement Frauds Other Than Billing
    • Check Tampering
    • Interesting Facts about Check Fraud
    • Check Fraud Case
    • What Is Positive Pay?
    • How Does Positive Pay Work?
  • Cash Register Disbursement Frauds and Theft of Cash on Hand
  • Summary
  • Exercises
• Chapter 7 - Payroll and Expense Reimbursement Frauds
  • Learning Objectives
  • Introduction
  • Payroll System
  • Internal Controls in the Example Payroll System
    • Separation of Duties
    • Other Controls in the Example Payroll System
  • Additional Payroll System Controls
    • Errors, Fraud, and Controls
    • Separation of Duties
    • Fraud/Errors Not Due to Inadequate Segregation of Duties
  • Control Matrix
  • Other Compensation Methods
  • Commissions
  • Other Payroll Compensation Issues
    • Payroll Outsourcing
    • Expense Reimbursement Frauds
  • Summary
  • Exercises
• Chapter 8 - External Auditing and Forensic Investigations: Conceptual and Procedural Differences
  • Learning Objectives
  • Overview
  • Differences between External Audit and Forensic Procedures and Principles
  • Summary
  • Exercises
• Chapter 9 - Latest Developments
• Appendix A - 2008 Report to the Nation on Occupational Fraud and Abuse

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