Successful organizations, both large and small, must understand the importance of effect internal controls and be able to develop a system of control measures that will keep the entity on its intended course. Moreover, those that design policies and procedures, benefit by knowing why these measures are necessary. This session sets forth internal control concepts and explains the importance of strong internal control policies. The material highlights some of the reasons that measures are needed and it provides an overview of control creation methods. Participants that take this course will gain a well-rounded understanding of internal control procedures of all types.
DESIGNED FOR
Accounting and other business professionals that would like to have an understanding of internal controls for business entities.
BENEFITS
Once participants have completed this session they should be able to:
- Understand key internal control concepts, including the four types of internal control: preventive, detective, deterrent and compensating
- List reasons that control measures are required such as to deter fraud or reduce operational inefficiencies
- Explain the importance of the control environment in all aspects of the internal control system
- List key steps used as an internal control system is created, and
- Understand why controls are necessary
HIGHLIGHTS
- Discuss the use of case studies adapted from real world examples
- Studies effectively show participants successful entities that rely on their control structure to propel their prosperity as well as businesses that struggled or failed because proper controls were never instituted
- Underlying concepts of internal control
- Defining where and why controls, policies and procedures are needed
- Legacy control measures that are still important for businesses today
- Creating control measures that address the use and protection of technology
COURSE LEVEL
Intermediate
PREREQUISITES
A basic understanding of internal control concepts.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
NJCPA Goes Green - Registrants Save $20
New for 2018, course materials will be distributed electronically and we're passing the savings along to you. All 8-hour seminar pricing has been reduced by $20. To access, visit your
My Events page. Download to your laptop or tablet prior to your seminar. Handouts are added as received.