Accounting Controls: What You Need to Know Part 2 (Currently Unavailable)

Author: Paul McCormack

CPE Credit:  2 hours for CPAs

This course covers the role control plays in fraud, red flags, and qualitative and quantitative measures of failed internal control program. We also discuss the components of a compelling business case to justify the implementation of an internal control.

We examine a company’s entire control environment from the moment cash enters the organization, to the moment it leaves. We review the process that companies can follow to determine whether to deploy an internal control and how to ensure that control functions as designed. We also dedicate a portion of the course to the development of controls within the corporate functions such as the accounting and purchasing functions.

Businesses run on controls. Whether those internal controls relate to the disbursement of payroll or payment of vendors, companies face the threat of fraud and abuse, and the eventual collapse of the business without them.

Publication Date: December 2015

Designed For
CPAs responsible for internal control creation

Topics Covered

  • The role controls play in the prevention and detection of fraud
  • The process to detect and resolve red flags triggered within the internal control environment
  • A discussion of the qualitative and qualitative measures of a failed internal control program

Learning Objectives

  • Recognize how to develop a business case to justify the creation and deployment of internal controls
  • Recognize how to develop, deploy, and sustain the internal control environment

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None

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