A business can be severely harmed if it does not conduct an appropriate analysis of customer credit requests, or bypasses them entirely. In the Credit Controls course, we discuss all aspects of the credit process flow, the forms used, and the controls needed to ensure that credit analyses are properly conducted. The course also addresses systems of internal control, control principles, types of controls, and several related issues.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the characteristics of a system of internal controls.
Recall the situations in which it is possible to operate with weak controls.
Recognize the best types of controls.
Specify how a continuous controls monitoring system functions.
Recall why an analysis of business status is needed in a credit review.
Specify the alternatives for a customer when the credit level is insufficient.
Recall when a credit waiver can be applied to a customer's credit request.
Recognize the flow of documents associated with the credit analysis function.
Major Topics
The Genesis of Accounting Controls
Common Fraud Risk Factors
Fraud Triggers
Control System Documentation
Terminating Controls
Credit Concepts
Credit Process Overview
