Weighing the Cost/Benefit of Internal Controls.
Purchasing and cash disbursements are common targets for fraud
in any entity's environment. While business owners and managers
are aware that internal controls seem to be very important, they often
don't know whether the entity’s system is adequate.
- Common Fraud Risks within the Purchasing and Cash Disbursement
- Analysis of Controls for Effectiveness and Efficiency
- Estimating the Cost/Benefit of Correcting a Control Weakness
- Control Implementation Ideas
- Errors and/or Fraud that Could Occur if Controls are not Implemented
- Fraud Statistics
- Preventive and Detective Procedures
instinctively know that internal controls are important and necessary, it is
sometimes difficult to effectively communicate this with business owners.
It is important to focus on common frauds and internal controls over the
purchasing and cash disbursement processes.
This course teaches you to hone in on smaller businesses and nonprofit entities where cost/benefit analysis is extremely important and fraud is
more likely to occur. Learn how to efficiently analyze controls to ensure
you’re getting the “biggest bang for your buck” when considering a control
to implement and/or test.
Who should attend: Business owners, managers, supervisors, accountants, and auditors
Field of Study: Auditing
Important Information on Your CPE Credit