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TODAY : Advance Search
Dec 2015


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Fraud and Cash Receipts: Common Frauds and Internal Controls

Online Event


This training program will enumerate the types of frauds that occur in the revenue cycle and cash receipts function. It will also highlight red flags or warning signs to look out for that may indicate someone is committing fraud. Further, attendees will learn to perform a cost benefit analysis to determine whether it makes business sense to correct a control deficiency.

Why Should You Attend:
According to a recent 2014 study conducted by the Association of Certified Fraud Examiners (ACFE):
5% of all revenues in the United States are lost annually as a result of fraud. 28.8% of all companies with less than 100 employee are victims of fraud with an average loss of $154,000. 23.6% of all companies with 100 or more employees are victims of fraud with an average loss of $128,000. Larger companies tend to have more or better internal controls in place and therefore, losses get detected sooner or the controls act as deterrents to keep the frauds from occurring.
Approximately 77% of the frauds in the study were committed by individuals working in one of seven departments: accounting, operations, sales, executive/upper management, customer service, purchasing and finance. 84% of the people committed fraud have never been convicted or terminated from a job for committing fraud in the past. On average it takes 18 months between when a fraud begins to occur and when it is finally detected.

Who Will Benefit:
Business owners
Anyone responsible for ensuring that a company or not-for-profit has adequate internal controls over the cash receipts / revenue cycle like a chief financial officer (CFO), controller, vice president of finance, chief risk officer, or even a member of an audit committee or board of directors
CPAs who perform internal audit procedures or opinion audit services
Internal auditors

Instructor Profile:
Toby Lawrence is the president of Lawrence Advisory Services, a consulting firm that specializes in providing various value added consulting services to banks and credit unions. Mr. Lawrence has almost 30 years of experience working in or serving financial institutions including serving as the president and CEO of a community bank and as a partner in two separate national CPA and consulting firms, McGladrey and CliftonLarsonAllen.

Use coupon code NB5SQH8N and get 10% off on registration, Valid till Dec 31st 2016.

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