Purchasing and cash disbursements are common targets for fraud in any entity's environment. Today, many practitioners, auditors and management in industry are aware of the criticality of adequate internal controls, but may be uncertain whether existing controls in their organizations are adequate. It is important to understand common frauds and internal controls over the purchasing and cash disbursement cycle. This course also emphasizes smaller businesses and not-for-profit entities in addition where cost/benefit analysis is extremely important and fraud is more likely to occur. Learn how to analyze existing controls and consider or implement new controls to more effectively and efficiently address the needs of your organization.
When you complete this course you will be able to:
- Identify common frauds in the purchasing and cash disbursement processes.
- Recognize internal controls to mitigate various risks.
- Recall an analysis process to improve efficient and effective risk management in your organization.
- The acquisitions cycle: ordering, receiving, and warehousing
- Cash disbursements cycle
- Payroll and expense reimbursement frauds
- External auditing and forensic investigations: conceptual and procedural differences
- Controls and design
Auditors, practitioners, and all levels of CPA professionals