Fraud plagues small businesses - the group that can least afford it! Fortunately, there are proven options you can implement to stem the tide of fraud found in smaller companies and not-for-profits, and in this session, you will learn how to do precisely that!
Objectives
Upon completing this course, you should be able to: 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 businesses 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 typical control techniques in small businesses, Implement technology tools to prevent and detect occupational fraud, List opportunities to enhance security over information systems and sensitive data
Highlights
Common challenges associated with implementing appropriate internal controls in small business environments, Fraud in small business environments, Internal control options in small business accounting software, Understanding the need for application controls and general controls
