Many managers, supervisors, and accountants in business, government, or nonprofits are not able to identify their departmental policies and procedures that function as the primary controls against errors and fraud. Alternately, 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 provides an overview of COSO guidance on components and principles of internal control.
Learning Objectives
Upon completion of this seminar, participants will be able to
Recall the types of internal control objective
Recall key points related to each of the five components of internal control and the related principles and points of focus, including examples
Major Topics
Definitions of internal control
Control Objectives
Control environment
Risk assessment and fraud
Control activities
Information and communication
Monitoring activities
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Auditing
4
Who Should Attend
Managers, supervisors, accountants and others with duties critical to the system of internal control in business, government or nonprofits, members of SOX 404 internal control assessment teams, auditors.
Instructor(s)
Thomas Newell
Prerequisites
Previous experience with transaction workflows
Advanced Preparation
Location
Loyola Graduate Center
2034 Greenspring Dr Lutherville-Timonium, MD21093US