Internal Control: Your Number One Defense Against Errors and Fraud (4101303C)

In good economic times and bad, fraud continues to be a problem that plagues all types of organizations; public and nonpublic, profit and not-for-profit, governmental and non-governmental. One needs only to read the news regularly to find numerous examples of frauds being perpetrated by individuals or entities against others. As the economy deteriorates, desperate individuals and organizations will do desperate things. In this course, you will build an organization's number one defense against errors and fraud-a well-designed and properly functioning internal control system. You also will learn to create an environment that recognizes and rewards proper behavior.

• Understand the importance of internal control in preventing and detecting errors and fraud.
• Pinpoint the most critical elements of a sound system of internal control.
• Identify the types of fraud being perpetrated against individuals and entities.
• Recognize the red flags of fraud.
• Realize the importance of screening prospective employees.
• Understand the CPA's responsibilities for internal control and fraud in an audit engagement.

• Common fraudulent financial reporting and asset misappropriation schemes
• Results of recent fraud studies
• Fraud prevention techniques
• Internal control in a small organization
• The importance of a strong ethical environment in preventing fraud
• Avoiding Ponzi schemes: Bernie Madoff
• CPA firm responsibilities with respect to internal control and fraud
• Information technology controls

CPAs in public practice, private industry and government who are responsible for designing, evaluating or auditing a system of internal control, as well as those who want to better prevent fraud or detect a material fraud if one has occurred.

None

None

To ensure that all credit is properly recorded, please review your personal profile and update your CPA, CFP, CTEC and/or Bar license number(s).