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. After an overview of the COSO guidance on the components
and principles of internal control, this course introduces participants
to basic tools used to document processes and controls. Participants
also discuss the identification of the risks of errors and fraud and
consideration the presence (or absence) of related controls.