Top 20 Internal Controls to Detect and Prevent Fraud

• OVERVIEW

Using 30 years of experience, the instructor will define the top twenty controls that can be used to detect and prevent fraud along with the top three critical controls. The instructor defined these key controls to help WorldCom recover from the lack of internal controls and an environment of fraud.  They are also used to validate and enhance internal controls programs across global corporations.  These controls are universal in nature and can be applied to all companies and processes.The basic premise of the standards is the critical corporate controls that should the foundation for all internal control programs, regardless of the company’s size or industry. The three critical controls are: 1) Segregation of Duties, 2) Delegation of Authority, and 3) System Access.

• LEARNING OBJECTIVES

• Learn about internal control best practices.
• Learn about the Top Three Critical Corporate Controls and why they are the foundation of any internal controls program.
• Focus on the Top Twenty Internal Controls and the roles and responsibilities for these controls.
• Discuss how the Top Twenty Internal Controls can detect and prevent fraud.
• Learn about the risk management practices.
• Learn about continuous controls monitoring (CCM) processes. 

• WHY SHOULD YOU ATTEND

The “Top Twenty Internal Controls” to detect and fraud are built upon standards of internal control and risk management.  This instructor will review each control in detail and will suggest the roles and responsibilities for each control and the types of internal control will be clearly defined. Specific examples will be given for each top twenty control including the top three critical corporate controls. Attendees will be armed with a toolkit of the standards of internal control that can be implemented at their companies.

• AREAS COVERED

• How Big is the Challenge?
• Definition of Internal Controls
• Roles and Responsibilities for Internal Controls
• The Top Three Critical Corporate Controls
• The Top Twenty Internal Controls
• About Continuous Controls Monitoring (CCM)
• Q&A

• WHO WILL BENEFIT?

• Financial Officers
• Controllers
• Procurement Professionals
• Shared Service Center Executives
• Risk Officers
• Internal Auditors

• SPEAKER
• Chris Doxey, CAPP, CCSA, CICA, CPC
• Chris has been the owner and president of Doxey, Inc. since 2012.  She provides management consulting services to clients such as NACHA, Oracle and Mastercard. She advises her clients on how to implement leading edge best practices and automation in the areas of internal controls, risk management and metrics for financial operations. She specializes in the procure to pay (P2P), order to cash (O2C) and record to report (R2R) processes.