K2's Small Business Internal Controls, Security, and Fraud Prevention and Detection

Overview

Internal controls are more important than ever, and their importance increases daily. However, internal controls present a challenge for many smaller organizations. This program will teach you 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 implement preventive, detective, deterrent, and compensating controls to mitigate these risks, even without proper segregation of duties. Additionally, participating in this program will teach you technology-focused techniques for preventing and detecting fraud and securing information systems and sensitive data.

For small organizations, maintaining an effective system of internal controls presents a significant challenge. Realistically, implementing many theoretical concepts surrounding internal controls may sometimes be impossible. Consequently, many internal control structures foster an environment where too much risk exists. This factor and uncontrolled information systems can often lead to disastrous results. Participate in this program to learn the necessary insights and tools to design, implement, and monitor small organizations’ internal controls, security, and anti-fraud measures.

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

Prerequisites

Basic understanding of internal controls and accounting and administrative processes in smaller organizations

Designed For

Business professionals responsible for internal control and fraud prevention and detection

Objectives

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

Preparation

None

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Stephen Yoss Jr., Stephen M. Yoss, Jr., CPA, MS is a ce, K2 Enterprises

Leader Bios

Stephen Yoss Jr., Stephen M. Yoss, Jr., CPA, MS is a ce, K2 Enterprises

Stephen M. Yoss, Jr., CPA, is the partner, and principal of Devmatics, LLC, a software development company that focuses on solving problems through the implementation of technology. Stephen has consulted with several companies on how to lower overhead, personnel and compliance costs by investing in technology and reengineering their business practices. He teaches his clients to embrace technology at every opportunity in order to increase efficiency and productivity.
Stephen began working with technology at age ten, and started his first IT company at age 13, designing web applications for local businesses. He has presented to thousands of practitioners nationwide on topics such as cloud computing, mobile technology, spreadsheet design and best practices, information security, identity theft prevention and many more.

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