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

Author/Moderator: Glenn Helms, Ph.D, CPA, CIA, CISA, CFF, CITP
Publisher: AICPA
Availability: Varies by Format (See Below)
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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.

Topics Discussed:

  • 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

Learning Objectives:
When you complete this course you will be able to:

  • 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.

Who Will Benefit?
Business owners, managers, supervisors, accountants, and auditors

Prerequisite:  None.

Advanced Preparation:  None

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NASBA Field of Study: Auditing
Level: Basic
Recommended CPE Credit: Text - 9; On-Demand - 8
Common Frauds and Internal Controls for Revenue, Purchasing and Cash Receipts
Text , 2014
Product# 753355
Availability: In Stock
AICPA Member:$155.00
Your Price:$193.75
Common Frauds and Internal Controls for Revenue, Purchasing and Cash Receipts
CPE On-Demand , 2014
Product# 163350
Availability: Online Access 1 Year
For registered users only
AICPA Member:$155.00
Your Price:$193.75
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