Internal controls are more important than ever, and their importance increases daily. But internal controls present a challenge for many smaller organizations. Learn to evaluate, develop, and implement an effective internal control structure in a small business environment. Discover 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, learn technology-focused techniques for preventing and detecting fraud as well as securing information systems and sensitive data. As a participant, you will benefit from case studies where theoretical concepts are implemented and demonstrated in leading small business accounting software programs, such as QuickBooks and QuickBooks Online, Sage 50/Peachtree, Microsoft Dynamics GP, and Sage 100.
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
Identify relevant internal control procedures over revenues, cash, purchasing, payables, payroll, inventory, and fixed assets in small businesses
Internal control fundamentals
Fraud in America today
General controls and security measures
Desktop tools for preventing and detecting fraud
Internal control opportunities in small-business accounting software
Financial and business professionals.
Basic understanding of internal controls and accounting and administrative processes in smaller organizations.