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Previously Titled: Common Frauds and Internal Controls for Revenue, Purchasing and Cash Receipts
While business owners and managers instinctively know that controls are important, they sometimes have a very limited understanding of what controls are effective. Accountants are in a unique position to fill this knowledge gap and help establish a cost-effective system of controls to minimize fraud and other misstatements while getting the “biggest bang for your buck.” Transactions that occur within an entity’s revenue cycle (revenues and cash receipts) and purchase cycle (purchases and cash disbursements) are common areas for misstatements (both unintentional and fraudulent).
This course enables you to focus on common misappropriation of asset frauds in the revenue and purchase cycles. You will be able to identify areas of greatest risk and setup internal controls to mitigate various risks.
Advanced Preparation: None