Course ID: CL4RCR

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 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.


Learning 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.

Major Topics

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


Who Should Attend

Business owners, managers, supervisors, accountants and auditors


Fields of Study

Auditing

Prerequisites

None


Provider

AICPA

CPE Credits

4.0

Level

Basic

This course is available for your group as:

 

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Or, contact BLI: 888-481-3500 or learn@blionline.org
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