The process of critically evaluating and developing an effective system of controls to prevent fraud is often confusing and misunderstood. In this course, a risk-based evaluation and design of an organization's number-one defense against errors and fraud a well-designed and properly functioning internal control system will be established. Whether you're management or an auditor, this approach will be beneficial.
Recognize the importance of internal control in preventing and detecting errors and fraud.
Determine the most critical elements of a sound system of internal control.
Identify the types of fraud being perpetrated against individuals and entities.
Identify how to understand, evaluate and document internal control systems.
Recognize the CPA's responsibilities related to internal control and fraud in an audit engagement.
Recognize the recently revised COSO Internal Control Framework.
Internal control concepts
Typical controls of the primary components of most accounting
Internal control in a small organization
Documenting internal control systems
Auditor responsibilities with respect to internal control documentation and evaluation
COSO Internal Control Framework
CPAs in public practice, private industry and government, who are responsible for designing, evaluating or auditing a system of internal control, as well as those who want to better prevent fraud before a material fraud has occurred.
Prerequisite: A working knowledge of the basic concepts of internal control systems is beneficial, but not mandatory.
Advanced Prep: None
Speaker: Thomas E. Noce, CPA, CFE
Field of Study: Accounting & Auditing
CPE Credit: 8 Hours
Meet the Speaker:
Thomas E. Noce, CPA, CFE, PFP, is a graduate of Rutgers University with a degree in accounting. Mr. Noce began his career with a large local accounting firm in New Jersey, where he concentrated in auditing and accounting for non-profit organizations and government related agencies. In 1985, he joined a Palm Springs firm where he was a shareholder from 1995 to 2003. In 2003, Mr. Noce opened his own practice in Palm Springs. His professional experience includes a variety of clients, including tribal entities, hotels, real estate, construction, homeowners associations, country clubs, non-profit organizations and others. His current practice emphasis focuses on tax and accounting issues related primarily to the real estate and hospitality industries. He also performs special engagements dealing with internal controls and fraud prevention and detection. Mr. Noce has authored and taught a number of courses for the CalCPA Education Foundation and chaired the Foundation's first two Fraud Conferences, as well as two Audit and Accounting Conferences. In 2004 and 2010 he received the Foundation's Award for Instructor Excellence. Currently, Mr. Noce presents six courses for the Foundation in the areas of Fraud, Audit and Accounting Standards and Risk-Based Auditing.