Internal Control and Corporate Fraud Detection: A Practical Guide

Internal Control and Corporate Fraud Detection: A Practical Guide
Click to enlarge
Price: $59.99
Credits: 8.0
Prerequisite: None
Level: Overview
Model: JS046
Author: DeltaCPE LLC
Average Rating: Not Rated
Fields of study: Auditing
Format: PDF


Course Description

The introduction of Sarbanes-Oxley (SOX) Act law fueled rapid growth in the organizational importance of internal control systems. Appropriate interpretation and implementation of the internal control framework is vital for every organization. This course incorporates and reflects up-to-date guidance from the PCAOB, the AICPA, the ACFE, and the principles of 2013 COSO Framework. The course not only addresses the theoretical concept of the internal control systems but also provides readers with the practical guidance they need to assume a role in the design, implementation, maintenance and evaluation of a comprehensive framework of internal controls for their organizations.

Specifically, the course presents the principles of internal control to help readers understand the nature and context of control, such as limitations of internal controls, the most recognized controls frameworks (e.g. COSO Framework, Green Book), and some common and important control procedures. It also includes steps on how to identify risks and controls, advice on how to assess the adequacy of controls, a discussion of how to reach a fair assessment, and documentation requirements for evidences of effective controls. In addition, the course discusses requirements related to performing an integrated audit: SAS 130 and AS No. 2201.  Although these auditing rules are mandatory for external auditors and not for management, management should give consideration to following the approach described in these requirements.

No discussion of internal controls would be complete without an examination of fraud prevention and detection. All organizations are subject to fraud risks. Fraud is now so common that its occurrence is no longer remarkable, only its scale. The course offers the essential tools for designing and implementing programs and controls to prevent and detect fraud. It focuses on the causes of fraud, fraud risk factors, some of the more common types of fraud, fraud symptoms, and fraud preventive and detective techniques, along with some recent cases in corporate fraud. It explains the differences between forensic accounting and auditing. It also includes the ACFE Fraud Prevention Checkup to help organizations identify major gaps and fix them before it is too late.

This course includes an illustration of potential internal controls weaknesses involving accounting and financial reporting cycles, along with examples of compensating controls. It provides sample audit programs of key processes.  It also incorporates appendixes including: an example of management internal control report, a SOX Section 404 management compliance checklist, financial reporting controls and information systems checklist for each key cycle (e.g. revenue, inventory, financing), and a computer applications checklist.


Field of Study: Auditing

Level of Knowledge: Overview

Prerequisite: None

Advanced Preparation: None

Revision Date: 11/7/24

Click Here For Courses Objectives

Additional Contents : Complete, no additional material needed
Advance Preparation : None
Intended Participants :
Any CPA looking to maintain or enhance their professional competence

Course Declaration : Participants must complete the final examination within one year of purchase. A minimum passing grade of 70% or better is required to receive CPE
Click here to view cancellation and record retention policies

Write Review
Your Name:


Your Review: Note: HTML is not translated!

Rating: Bad            Good

Enter the code in the box below:

There are no additional images for this product.
No Records.