Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
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. As a participant, you will benefit from the case studies used in class in which theoretical concepts are implemented and demonstrated in leading small business accounting software programs, such as QuickBooks and QuickBooks Online, Sage 50 and Adagio.
For small organizations, maintaining an effective system of internal controls presents a significant challenge. Implementing many of the theoretical concepts surrounding internal controls such as segregation of duties may not be practical or even 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 and computerized accounting software, 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.
Schedule
- May 29, 2024, 8:30 a.m. - 12:30 p.m.
- May 30, 2024, 8:30 a.m. - 12:30 p.m.
Key Takeaways
By the end of this seminar, participants 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 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.
- Implement technology tools to prevent and detect occupational fraud.
- List opportunities to enhance security over information systems and sensitive data.
- Define alternative control procedures and describe their significance in small businesses.
Who Will Benefit
Business professionals responsible for internal control and fraud prevention and detection.
Prerequisite(s)
Participants should have a basic understanding of internal controls and accounting and administrative processes in smaller organizations.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
K2E Canada Inc, and its US partner K2 Enterprises is the pre-eminent provider of technology-focused continuing professional education to accountants and other professionals in Canada and the United States. We offer seminars on Excel, Word, PowerPoint, Outlook and Access. In addition; our catalogue includes seminars on Internal Controls, Cloud Computing, Tech Tools to Prevent Fraud, Adobe PDF and overviews of current technology for accountants.