Transactions that occur within an entity’s revenue cycle (revenues and
cash receipts) and the purchase cycle (purchases and cash disbursements)
are common areas for misstatements (both unintentional and fraudulent).
While business owners and managers instinctively know that controls are
important, they sometimes have a very limited understanding of what
controls are effective. Accountants are in a unique position to fill
this knowledge gap and help establish a cost-effective system of
controls to minimize fraud and other misstatements while getting the
Obiggest bang for your buck.O