Courses / Short Learning Series
Internal Controls & Fraud Prevention
SL-10 · Controls
Learn how to protect a business with practical internal controls: a strong control environment, segregation of duties, and key controls over cash, sales and purchases. You will also learn how common frauds work, which red flags to watch for, and how to monitor controls and respond calmly when fraud is suspected.
Who it's for
Business owners, managers, accountants and finance staff responsible for protecting cash, stock and records.
What you'll be able to do
- Explain the five components of internal control and design segregation of duties for a small team
- Apply key controls over cash and bank, sales and receivables, and purchases and payments
- Recognise common fraud schemes, payment redirection attempts and behavioural and accounting red flags
- Use monitoring, exception reports and simple data tests to check that controls work
- Respond to a suspected fraud in the right order and describe UAE AML reporting duties
Lessons
- 1Control environment and segregation of dutiesreading
- 2Key controls over cash, sales and purchasesreading
- 3Common fraud schemes and red flagsreading
- 4Monitoring, reviews and responding to fraudreading