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Course Level :Basic
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Credits :2.5
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Pre-requisites :None
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Advance Preparation :None
In today's competitive business environment, effective procurement of goods at fair prices is crucial for companies seeking success. To achieve this, robust controls encompassing the purchasing, receiving, and accounts payable processes play a pivotal role.
Understanding the key controls within these processes is not only beneficial for internal auditors and business managers but also for individuals looking to enhance, comprehend, or audit procurement procedures. This course is designed to equip participants with a clear understanding of internal control definitions and concepts, providing a strong foundation for navigating the complexities of procurement.
In addition to procurement insights, the course delves into the receiving process, covering essential activities and specific controls related to receiving. We will learn to properly identify the two primary receiving activities and recognize the key documents integral to smooth operations in the receiving process. Emphasis is placed on process-specific controls to optimize efficiency and accuracy in receiving procedures, thereby ensuring a seamless supply chain.
Throughout the course, we will tackle learning objectives ranging from understanding internal control concepts and recognizing risk categories to comprehending fraud risk factors, the Fraud Triangle, and Fraud Diamond components. Moreover, we will learn the primary steps required to construct a robust system of internal controls, drawing insights from COSO's Internal Control–Integrated Framework and the Sarbanes Oxley Act.
Don't miss this opportunity to fortify your understanding of procurement and receiving processes and internal controls. Enroll in this CPE Auditing Course today to unlock valuable insights that will benefit your career and organization.
Major topics covered in this course:
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) 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.
Owner, CPE Academy
Reid Conrad is a renowned CPA. With contagious enthusiasm, he engages audiences uniquely through text-based presentations. He is a distinguished renowned educator, and esteemed presenter in the realm of Accounting. With a passion that knows no bounds, Reid's presentations are infused with an infectious enthusiasm that captivates his audience.
Reid is a trailblazer in the field, sharing his knowledge exclusively through text-based formats. His mastery of the written word allows him to communicate complex Accounting concepts with exceptional clarity and precision, leaving a lasting impact on his audience's understanding.
CPE Academy is an educational firm comprised of CPAs with experience in public accounting, industry, internal audit, and university teaching. The principals have more than 40 years of experience and their public accounting experience includes audits for both large and small CPA firms with several large publicly traded clients. Their industry experience includes home building and oil and gas accounting. Their internal audit experience includes process reviews, contract audits, agreed upon procedures, and regulatory engagements. Their university teaching includes a wide range of accounting, auditing, data analytics, and tax courses. With the unique combination of extensive corporate experience and university level teaching the firm is able to offer exceptional educational material.
54 Ratings
AB
Oct 28th, 2024
Very detailed information on the receiving process, and key controls.
JB
Jun 19th, 2024
Nice review of Receiving controls
AJ
Nov 27th, 2023
Great concise content.
