VIRTUAL ONLY: Fraud and Cash Receipts: Common Frauds and Internal Controls

Description

Revenue and cash receipts are two critical areas that require strong controls to prevent intentional fraud or unintentional misstatements. While there is well-publicized fraud in these areas in larger companies, it also occurs in smaller businesses and not-for-profit entities. A sound system of internal controls is needed to help prevent fraud. All too often, a "one-size-fits-all" system is put in place without considering the uniqueness of each entity. It is crucial that an internal control system is tailored so that the areas of greatest risk receive the most attention.

Highlights

  • Traditional revenue system
  • Retail revenue cycle
  • Manufacturing revenue cycle
  • Service revenue cycle
  • Accounts receivable and billing
  • Cash receipts
  • Revenue frauds and fraudulent financial reporting

Objectives

  • Identify common frauds in the revenue and cash receipts processes.
  • Identify internal controls that mitigate various risks.
  • Recall an analysis process to improve efficient and effective risk management in your organization.

Designed For

Business owners, managers, supervisors, accountants and auditors



Leaders

Anne Marchetti

No Biography Available