Internal controls form a complex system that involves the collaboration of the board of directors, the audit committee, internal and external auditors, risk management personnel, investigators, operations personnel and others. This online self-study course will explore the key roles in preventive controls and essential components of internal control, inherent limitations of internal controls and much more.
You Will Learn How To:
Outline key functions in preventive controls
Identify essential elements of an effective internal control system
Categorize major fraud schemes
Illustrate a fraud risk assessment
Discuss organizational preventive controls
Use controls to prevent specific fraud schemes
Evaluate preventive controls and corrective deficiencies
Express limitations of internal controls
Field of study: Auditing
Last updated: january 2012
ACFE Ordering and Return Policy
Please note: To be eligible for CPE credit, you must complete the final exam within one year of purchase date. You may only claim CPE credit for a course once.
The Association of Certified Fraud Examiners, Inc. 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.learningmarket.org
Table of Contents:
Lesson 1: Introduction
Lesson 2: Key Roles in Preventive Controls
Lesson 3: Components of Internal Control
Lesson 4: Major Categories of Fraud Schemes
Lesson 5: Fraud Risk Assessment
Lesson 6: Organizational Preventive Controls
Lesson 7: Specific Preventive Controls for Financial Statement Fraud
Lesson 8: Specific Preventive Controls for Theft of Cash
Lesson 9: Specific Preventive Controls for Accounts Receivable Fraud
Lesson 10: Specific Preventive Controls for Inventory Fraud
Lesson 11: Specific Preventive Controls for Fixed Assets Fraud
Lesson 12: Specific Preventive Controls for Investment Fraud
Lesson 13: Specific Preventive Controls for Payables and Disbursement Fraud
Lesson 14: Specific Preventive Controls for Payroll Fraud
Lesson 15: Specific Preventive Controls for Expense Reimbursement Fraud
Lesson 16: Specific Preventive Controls for Borrowing Frauds
Lesson 17: Specific Preventive Controls for Equity Frauds
Lesson 18: Specific Preventive Controls for Corruption
Lesson 19: Inherent Limitations of Internal Control
Lesson 20: Monitoring Controls and Correcting Deficiencies
ACFE online self-study courses feature:
24/7 access to courses through your Internet browser
Save time and quickly earn CPE credits with instant access, grading and printable certificate
The flexibility to start or stop a course and pick-up right where you left off
No additional shipping fees
Learn more about accessing your online self-study course.
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Internet access: High-speed connection recommended
Free Adobe Flash Player
Speakers required for video sound
Online Self-Study Troubleshooting Guide:
Problem: When I attempt to access my courses from “My Online Learning,” the course never launches, or I receive an error message saying my pop-up blocker needs to be turned off.
Solution: Your web browser must be configured to allow pop-ups in order to access ACFE Self-Study courses. Your browser may prompt you to allow pop-ups, or you may have to allow them manually. You may either allow them for all sites, or allow them just for the current site.
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Problem: When I click on a course from “My Online Learning,” I am presented with a login page, but my ACFE.com username and password won’t allow me to log in.
Solution: You do not have to log in a second time to access your online self-study. You most likely reached the login page because you clicked the link labeled “Click Here” as shown below:
Do not click that link; instead, allow your browser to automatically open the eLearning window on its own, which should happen after a few seconds. This will log you in automatically so that you can access your online courses.
Problem: I receive the following error when I try to load a different lesson with a course:
Solution: This occurs in Internet Explorer when trying to load a different lesson without closing the current lesson. This error can be avoided two different ways:
Always close the current lesson before going to another one. Always click the Close Window button (usually the red “X” in the upper right corner) of the current lesson before clicking on another lesson.
Use a different browser. This error seems to only occur in Internet Explorer, so using Mozilla Firefox or Google Chrome should resolve the issue (see below for links to download either of these browsers).
Other Troubleshooting Tips: If you encounter other errors, such as courses freezing or crashing, we recommend taking the following action:
Try a different browser. ACFE online self-study courses are designed to run on all modern web browsers, but if you encounter a problem that is not solved using one of the suggestions above, you can try using a different web browser to see if it eliminates the problem. We have most frequently seen where using Mozilla Firefox or Google Chrome has resolved an issue that was seen in Internet Explorer.
Mozilla Firefox can be downloaded here
Google Chrome can be downloaded here
Make sure you are running the latest version of Flash. Go to Adobe.com to see what version of Flash you are running, and then compare that to the table on that page to see what the latest version is for your operating system/browser combination. If you are not running the newest version, you should upgrade and see if that resolves the problem.