Managers, supervisors, and accountants in business, government, or
nonprofits are unable to identify their departmental policies and
procedures that function as the primary controls against errors and
fraud. Additionally, auditors performing field work may be confused
about how to interpret and evaluate management’s documentation of
accounting processes and controls. Neither party may truly understand
how their duties differ. This course gives you a solid understanding of
systems and control documentation. After an overview of the latest COSO
guidance on the components and principles of effective internal control,
you are introduced to basic tools used to document an effective
accounting process. Identify the risks of errors and fraud in the
accounting system, the key controls and weaknesses of compensating
controls.