Revenue and Cash Receipts: Common Frauds and Internal Controls (CL4RCR)

Bismarck Ramkota - 6/21/2010
4 CPE Hours
$135 Member ($165 Nonmember)
Add $25 after 6/7/2010

Instructor: William Eskin

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 nonprofit entities. A sound system of internal controls is needed to help prevent fraud occurrence. 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.

Upon completion of this course, participants will be able to:  

• Learn common frauds in the revenue and cash receipts processes
• Become aware of internal controls to mitigate various risks
• Develop an analysis process to ensure efficient and effective risk management

Highlights:

• Common fraud risks within the revenue and cash receipt processes
• Analysis of controls for effectiveness and efficiency
• Estimating the cost/benefit of correcting a control weakness
• Control implementation ideas

Designed For: Business owners, managers, supervisors, accountants, and auditors
Level: Basic
Developer: AICPA