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Implementing Compensating Controls to Reduce Risk and Prevent Fraud

Christine Doxey, CPC.

Doxey Inc.

Wednesday, July 03, 2019 | 10:00 AM EDT

  • CPA

1 Credit

FREE

Subject Area

Auditing

Upcoming Webinars

employment law in a nutshell – guidance for your business

(1)

Jun 18, 2021 | 09:00 AM EDT View Details

irs tax practice & procedure introduction

Jun 18, 2021 | 09:30 AM EDT View Details

differences between ifrs and gaap

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addressing single audit quality in a covid-19 era

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advance irs learning: multiyear non-filing, criminal investigation, voluntary disclosure, whistleblower claims etc.

(2)

Jun 18, 2021 | 10:00 AM EDT View Details

tax strategies for real estate: crucial insights: acquisition and depreciation strategies

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keys to maintaining an effective and strong internal audit department

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Jun 18, 2021 | 10:00 AM EDT View Details

best tax return workshop on s corporation (1120s) - latest

(3)

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are you creating legal liability when you hire or recruit online? - covid -19 special

(37)

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annual federal tax update - c & s corporations, partnerships & llcs (forms 1120, 1120s & 1065)

Jun 18, 2021 | 10:00 AM EDT View Details

yellow book boot camp - nfp and governmental accounting & auditing update

(1)

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partnership preparation, basis calculations & distributions–form 1065 schedule k & k-1 analysis

Jun 18, 2021 | 08:00 AM PDT View Details

comprehensive tax strategies & insights on real estate

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internal controls for businesses

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Jun 18, 2021 | 08:00 AM PDT View Details

maximizing home office deduction (covid special - latest)

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Jun 18, 2021 | 11:30 AM EDT View Details

Course Description

Segregation of duties promotes the use of sound business practices and supports the achievement of a business process objective. When designing segregation of duties controls for a business or financial process, most business process owners start with identifying incompatible functions and then define the segregation of duties and systems access controls. However, the segregation of duties control cannot always be achieved in certain situations due to staffing limitations. In some cases, an employee will perform all activities within a process. In this scenario, segregation of duties does not exist and risk cannot be identified nor mitigated in a timely manner. As a result, the implementation of additional compensating controls should be considered.

Learning Objectives

  • What are Segregation of Duties Controls?
  • What is the Definition of Compensating Controls?
  • When Should I Implement Compensating Controls?
  • What are Examples of Compensating Controls?
  • What are CCM and CSA Processes?

Who Should Attend?