K2's Small Business Internal Controls, Security, and Fraud Prevention and Detection

Wednesday, July 06, 2022
Webcast or Webinar, Online
11:00AM - 6:30 PM (opens at 10:30AM) EST
8Credits
Accounting and Auditing

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$289.00 Regular Price
Non-Members
$389.00 Regular Price
Course Type: Webcast
Course Code: 22/89111584
Level: Intermediate
Vendor: California CPA Education Foundation
Field of Study: Auditing

Overview:

Internal controls are more important than ever, and their importance increases seemingly on a daily basis. However, internal controls present a challenge for many smaller organizations. In this program, you will learn how to evaluate, develop, and implement an effective internal control structure in a small business environment. You will identify how to assess risk in smaller organizations and how to implement preventive, detective, deterrent, and compensating controls to mitigate these risks, even in the absence of proper segregation of duties. Additionally, by participating in this program, you will learn technology-focused techniques for preventing and detecting fraud as well as securing information systems and sensitive data. For small organizations, maintaining an effective system of internal controls presents a significant challenge. Implementing many of the theoretical concepts surrounding internal controls may not be possible in some cases. Consequently, the current internal control structure of many small businesses fosters an environment in which too much risk is present. This, coupled with the presence of uncontrolled information systems can often lead to disastrous results. Participate in this program to learn the necessary insights and tools to design, implement, and monitor effective internal controls, security, and anti-fraud measures in small organizations. "Great real life examples! Great easy & simple techniques that can easily be applied in business practice that will certainly add value to any organization." K.E., CPA MN "Good information & practical examples." T.H., CPA CA

Objectives:

  • Cite internal control fundamentals, including definitions and concepts, types of internal control activities, and the need for internal controls
  • Identify common small business control deficiencies and issues, including concentration of ownership and inadequate segregation of duties, and list five key risk areas for small businesses
  • Recognize the common types of fraud schemes occurring in small business and implement internal control measures to reduce the threat of becoming a victim
  • List the objectives and common deficiencies of small business accounting systems
  • Define the purpose of general controls and list examples of common general controls in small businesses
  • Implement technology tools to prevent and detect occupational fraud
  • List opportunities to enhance security over information systems and sensitive data

Major Topics:

  • Internal control fundamentals
  • Common small business control deficiencies
  • Fraud schemes in small business
  • Common deficiencies in small business accounting systems
  • General controls in small businesses
  • Technology

Major Topics:

  • Internal control fundamentals
  • Common small business control deficiencies
  • Fraud schemes in small business
  • Common deficiencies in small business accounting systems
  • General controls in small businesses
  • Technology

Designed For:

Business professionals responsible for internal control and fraud prevention and detection

Prerequisties:

Basic understanding of internal controls and accounting and administrative processes in smaller organizations
CPE sponsors

The Florida Institute of Certified Public Accountants (FICPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org