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


Total Credits: 8 including 8 Auditing- Technical

Average Rating:
Not yet rated
Category:
ACPEN Industry Institute |  Industry |  Accounting and Auditing
Faculty:
Thomas G. Stephens Jr., CPA.CITP, CGMA
Course Levels:
Intermediate
Duration:
8 hours
License:
Access for 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Description

Internal controls are more important than ever, and their importance increases seemingly daily. However, internal controls present a challenge for many smaller organizations. In this program, you will learn 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, by participating in this program, you will learn 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. Implementing many of the theoretical concepts surrounding internal controls may not be possible in some cases. Consequently, many small businesses' current internal control structure fosters an environment in which too much risk is present. This factor, coupled with the presence of 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 effective internal controls, security, and anti-fraud measures in small organizations.

 

Basic Course Information

Learning 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 business 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 common general controls in small businesses

  • Identify relevant internal control procedures over revenues, cash, purchasing, payables, payroll, inventory, and fixed assets in small businesses

  • Implement technology tools to prevent and detect occupational fraud

  • List opportunities to enhance security over information systems and sensitive data

  • Define alternative control procedures and describe their significance in small businesses


Major Subjects
  • Auditing
  • Fraud Prevention
  • Internal Controls

Course Materials

Faculty

Thomas G. Stephens Jr., CPA.CITP, CGMA's Profile

Thomas G. Stephens Jr., CPA.CITP, CGMA Related seminars and products

Shareholder

K2 Enterprises


Tommy Stephens received a Bachelor of Science in Business Administration degree (Major in Accounting) from Auburn University in 1985. In 1992, he earned a Master of Science degree (Major in Finance) from Georgia State University in Atlanta. Presently, Tommy is a Certified Public Accountant, a Certified Information Technology Professional, and a Chartered Global Management Accountant.

During his professional career, Tommy has gained valuable experience in a variety of positions, including:

  • Working as an auditor and technology consultant for an Atlanta-based public accounting firm;
  • Leading an Internal Audit staff and managing a Cost Accounting team for a Fortune 500 company;
  • Serving as a Chief Financial Officer for an international engineering organization; and
  • Founding and managing his public accounting firm that provides accounting, tax, and consulting services to individuals and a variety of small and emerging businesses.

In 1995, Tommy began authoring and presenting continuing professional education courses to accounting and finance professionals. In 2003, he affiliated with K2 Enterprises, and in 2007, he joined the firm as a partner. To date, he has lectured internationally on subjects such as internal controls for small businesses, technology strategies, computer hardware and software applications, tax strategies and compliance, and financial accounting standards and applications. Over the past twenty-five years, Tommy has presented over 2,700 educational sessions to over 70,000 participants throughout the United States and Canada.

Presently, Tommy resides in Woodstock, Georgia, where he enjoys an active personal life with his wife. His hobbies include snow skiing, fishing, running, and other outdoor activities. Tommy maintains professional memberships with the American Institute of Certified Public Accountants and the Georgia Society of Certified Public Accountants. Additionally, he is a past member of the Institute of Internal Auditors.


Dates

Wed, Aug 04, 2021 - 11:00am to 06:46pm EDT
Sat, Aug 07, 2021 - 09:00am to 04:46pm EDT
Wed, Sep 01, 2021 - 08:30am to 04:16pm EDT
Thu, Sep 09, 2021 - 12:00pm to 07:46pm EDT
Fri, Oct 01, 2021 - 10:00am to 05:46pm EDT
Wed, Oct 06, 2021 - 08:30am to 04:16pm EDT
Mon, Nov 01, 2021 - 10:00am to 05:46pm EDT
Sat, Nov 06, 2021 - 11:00am to 06:46pm EDT
Wed, Dec 01, 2021 - 10:00am to 05:46pm EST
Thu, Dec 16, 2021 - 12:00pm to 07:46pm EST
Wed, Jan 05, 2022 - 09:00am to 04:46pm EST
Mon, Jan 17, 2022 - 11:00am to 06:46pm EST
Wed, Feb 02, 2022 - 09:00am to 04:46pm EST
Mon, Feb 21, 2022 - 11:00am to 06:46pm EST
Wed, Mar 02, 2022 - 09:00am to 04:46pm EST
Mon, Mar 21, 2022 - 11:00am to 06:46pm EDT
Wed, Apr 06, 2022 - 09:00am to 04:46pm EDT
Mon, Apr 18, 2022 - 11:00am to 06:46pm EDT
Wed, May 04, 2022 - 09:00am to 04:46pm EDT
Mon, May 16, 2022 - 11:00am to 06:46pm EDT
Wed, Jun 01, 2022 - 09:00am to 04:46pm EDT
Mon, Jun 20, 2022 - 11:00am to 06:46pm EDT

Additional Info

Basic Course Information

Original Recording Date 2021
Date Added to Catalog 6/24/2021
Prerequisites Basic understanding of internal controls and accounting and administrative processes in smaller organizations
Advanced Preparation None
Designed For Business professionals responsible for internal control and fraud prevention and detection
Course Developer K2 Enterprises
Yellow Book No

Additional Information

Instructional Delivery Method Group Internet Based
Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Refund/Cancellation Policy Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Course Registration Requirements Online Registration

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