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| June 2004 | The
Monthly Newspaper of the NYSSCPA |
Vol.
7, No.9 |
Reducing Payment System Risks in the Retail Delivery Channel
Once a retail transaction starts, the delivery channel is populated with information about the transaction’s status. Inventory, credit, delivery and payment information travel within the accounting information system of the retailer.
What are the risks associated with each transaction? What are the factors retail managers and auditors should consider? How can a CPA add value to the risk controls of accounting information systems?
Auditors and risk management personnel who are responsible for payment system risk assessment in the legacy (physical) environment and the virtual (Internet) environment should consider attending the July 20 continuing professional education (CPE) morning presentation organized by the Society’s Technology Assurance Committee.
Presentation Outline
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Overview of payment methods and their risks: check cards, check truncation, debit cards and credit
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Merchant payment preferences
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Fraud trends for each payment method
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Fraud mitigation techniques, including security practices, activity monitoring and detection
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Debit and credit card network requirements merchants should know
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Secure methods for web payment acceptance
Date:
Tuesday, July 20
Time: 8:30 a.m. to 9:00 a.m.: registration, networking;
9:00 a.m. to 10:00 a.m.: CPE session
Presenter: Bruce Sussman, director of internal audit
for NYCE Corporation
Location: NYSSCPA headquarters, 530 Fifth Avenue, Fifth
Floor, New York City
About the Presenter
Bruce Sussman, CPA, CISA, CISSP, CBA, is director of internal audit for NYCE Corporation. He founded NYCE’s internal audit function in 1995, and has assisted NYCE management with various self-assessment, regulatory compliance, Y2K, and encryption and security awareness programs.
Prior to joining NYCE, Sussman worked for several large NYCE participant banks, including Chase, First Union and The Bank of New York. Much of his career has focused on risk management issues central to E-commerce, EFT, encryption, data networking and funds transfer.
Sussman often represents NYCE before bank regulators, financial institutions and ANSI encryption standards committees. Published in several industry journals, including the publication for the Information Systems and Control Association, Sussman is a member of the NYSSCPA’s Technology Assurance Committee.
Additional Information
This NYSSCPA/Foundation for Accounting Education (FAE) CPE morning presentation is free to NYSSCPA members and $15.00 for nonmembers to qualify for one hour of CPE credit.
At the session you will get the chance to network with the profession’s and the industry’s IT leaders.
Advance registration is encouraged, because seating is limited.
For additional information, contact Gary E. Carpenter at 315-487-4567 or gcarpenter-cit@worldnet.att.net or the author at 212-684-0011 or yr@personcpa.com.
For more information on the Technology Assurance Committee, visit www.nysscpa.org, click on the Find Committees tab on the left-hand side of the page and then scroll down to the Technology Assurance Committee link.
Registration
To register: contact FAE at 212-719-8383 or 800-537-3635 or visit the Society’s website at www.nysscpa.org (you will need your Society member number to register). Go to the Technology Assurance Committee homepage and select “Reducing Payment System Risks in the Retail Delivery Channel” located within the “Free IT CPE” box.
Yigal Rechtman, CPA, CITP, CISM, is a partner with Person & Company, LLP CPAs, in New York City and is a member of the NYSSCPA’s Technology Assurance Committee. The views expressed in this article are Rechtman’s and not his firm’s.
