Common Frauds and Internal Controls for Revenue, Purchasing, and Cash Receipts

Nov 28
8:00 - 4:00 p.m.

Pennsylvania Institute of CPAs
Philadelphia - Map

8-A&A
CPE Credits

Establish a cost-effective system of controls to reduce your organization’s exposure while maximizing profits. Explore the common areas for misstatements, both unintentional and fraudulent, that fall within an entity’s revenue and purchase cycles, and learn how to protect your clients or company against these risks.
Highlights

Major revenue recognition principles used by different entities
Fraud risks within variations of revenue, purchasing, cash receipts, and cash disbursement processes
Controls for effectiveness and efficiency
Cost/benefit of correcting a control weakness
Control implementation ideas for a range of entity sizes and different industries
Differences between external audit and forensics procedures and principles

Registration

PICPA Member: $275
Nonmember: $375

More Information

Course No. 687700 Level: Basic

Prerequisites: None

Notes

AICPA Members save $30!

This course is only offered once in 2018.

Speaker(s)

Lynn Fountain

Lynn Fountain, CPA, CGMA, CRMA, MBA

Lynn Fountain has over 35 years of experience spanning public accounting, corporate accounting and consulting. Twenty years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management, and compliance. She has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigated by the FBI and resulted in 5 indictments estimating a $13M fraud loss.

Ms. Fountain currently engages in her own consulting and training. She has assisted numerous companies with enterprise risk management frameworks, internal audit processes, and financial accounting. She is a highly sought-after speaker and has trained internationally. In addition to her personal training, she also serves as a discussion leader for the AICPA for numerous classes. Topics include fraud and forensic courses for both profit and not-for profit, internal controls for large and small entities, COSO 2013, accounting principles, ethics, and risk management and various leadership courses.

Ms. Fountain is the author of three separate technical books released in 2015, The first entitled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation and released in April 2015. Her second book “Leading the Internal Audit Function” was released in October 2015 by Taylor & Francis Publications. This book serves as the initial launch for a series of leading practice internal audit and information technology publications. In addition, her third book “Ethics and the Internal Auditor’s Dilemma” was released in December 2016.

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA, and her CPA credential from Kansas.

www.lynnfountain.net
fountainlynn1@gmail.com

12/05/2017