Detecting and Preventing Cash Frauds
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
Cash is one of the easiest assets to misappropriate. The ACFE estimates organizations lose around 5% of their revenue to fraud on an annual basis. This course is designed to review the issue of fraud in the cash accounts and cash maintained at a business location. Examples of actual frauds will be provided so participants can understand how the frauds are being committed and how they were uncovered. We will review various methodologies for detecting cash frauds and will discuss developing internal controls to help prevent and detect cash frauds.
Publication Date: October 2024
Designed For
This course would be appropriate for CPAs, CFEs, MAFFs, CIAs, CMAs, CGMAs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.
Topics Covered
- Fraud Review
- Cash Frauds
- Counterfeit Currency
- Money Laundering
- Internal Controls for Cash Accounts
Learning Objectives
- Identify red flags for cash frauds
- Identify internal controls to prevent cash frauds
- Identify internal controls to detect cash frauds
- Identify the COSO component that is often referred to as the “Tone at the Top”
- Identify the US bill that is most frequently counterfeited
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
