Fraud and Cash Receipts: Common Frauds and Internal Controls
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, and can even be more likely to occur, in smaller businesses and not-for-profit entities. A sound system of internal controls is needed to help prevent fraudulent activities and reporting related to the revenue and cash receipts cycle. It is crucial that an internal control system is tailored to the unique needs of each organization with a dedicated focus on areas posing the greatest risk; this course is designed to help you to do this.
- Identify common frauds in the revenue and cash receipts processes.
- Identify internal controls that mitigate various risks.
- Recall an analysis process to ensure efficient and effective risk management.
- Traditional revenue system overview
- Retail revenue cycles
- Manufacturing revenue cycles
- Service revenue cycles
- Accounts receivable and billing
- Cash receipts
- Revenue frauds caused by fraudulent financial reporting
Professional Area of Focus
CPE Field of Study
Who Should Attend
1:00 pm - 4:30 pm