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Friday, December 15, 2023 Live Webcast

Internal Controls, COSO, and COVID-19 (E2312362)

1:00 PM - 4:30 PM EST

Registration: 12:30 PM EST


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4 CPE Credits in AA


Companies that fall victim to fraud schemes need to reassess internal controls in order to prevent future fraudulent activity. In this course, we will review the 18 most prevalent internal controls that should be present (as well as designed and operating effectively) in order to prevent future frauds. These controls are taken from Association of Certified Fraud Examiners’ Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse. Then we will tie these controls to the 17 internal control principles offered by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), the framework used by virtually all entities and auditors to assess the design and operational effectiveness of internal controls. Lastly, we will consider the impact of the 2020 pandemic on internal controls in the coming era.

This course features a live instructor and has been specifically designed for the NJCPA.


CPAs in public practice and industry who wish to educate clients or colleagues on how to assess internal controls and adapt in the post-COVID era


  • Understand that fraud occurs in companies with seemingly sound internal control structures
  • Assess how internal controls fit into the COSO framework and determine whether mitigating controls are sufficient
  • Understand the difference between reactions and responses to changing circumstances 
  • Recognize that the days of working in an office may be numbered (or certainly reduced)
  • Understand that audits and other attestation engagements can actually be performed remotely, reducing time and cost


  • ACFE's Report to the Nations and the most commonly found controls in fraud victim organizations
  • Internal controls in relation to COSO principles
  • How to employ controls to cut losses
  • How to modify controls in the post-COVID era
  • The potential impact of increased enforcement of laws and regulations to replenish government coffers
  • Remote work circumstances and considerations










Thomas Newell

Thomas E. Newell, CPA

AICPA/Professional Development Institute

Thomas E. Newell, Jr., CPA Newell and Newell, P.C. / Columbus, Georgia Thomas E. Newell, Jr. (Tom) is a shareholder in the firm of Newell & Newell, P.C., which is located in Columbus, GA. Tom started the firm with his wife, Silvia Newell, CPA in 1986. Prior to that, his public accounting experience included both local firms and international firms. Tom has performed hundreds of peer reviews and has been involved with the peer review program since 1989. Tom served on the Georgia Society (GSCPA) peer review committees from 1989 to 1993. In 1993, he was selected to be one of the technical reviewers for the Georgia Society Peer Review Program and served for nine years. During his time as technical reviewer, Tom worked with the GSCPA to move the peer review committee from in-person to online meetings. Tom has also served several years on the accounting and auditing committee at the Georgia Society. Tom has been a presenter at conferences and CPE courses for over 30 years. He has been a frequent presenter for the Georgia Society of CPAs at the Southeastern Accounting Show, Tax Forum (A&A topics), and the Accounting Institute. Tom is also a discussion leader for various continuing education courses on A&A topics for other state societies. He has made presentations at Fortune 500 companies and several government agencies on accounting and auditing, internal controls, and cybersecurity. As a presenter, Tom has been described as a dynamic speaker who is able to take a boring topic (accounting and auditing) and make it interesting. He was awarded the Surgent Outstanding Discussion Leader Award in 2015, 2016, and 2018, as a result of these skills. Tom was recognized in 2018 by the AICPA as an Outstanding Facilitator for his consistently high evaluations of knowledge and presentation skills. As the world of presentations has been changing, Tom has been a champion of moving to virtual presentations. He was involved in the early years of simulcasting by various state CPA societies, as well as the recording of video and audio self-study courses. Tom is now prepared for the next wave of change toward the totally virtual classroom that simulates a true live classroom experience. Tom graduated cum laude from Georgia Southwestern College in Americus, GA in 1980.


$189.00 - Member

$264.00 - Nonmember

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