Successful organizations, both large and small, must understand the importance of effective internal controls and be able to develop a system of controls that will keep the entity on its intended course. Moreover, those that design policies and procedures benefit by knowing why control measures are necessary.
DESIGNED FOR
Accounting and other business professionals that would like to have an understanding of internal controls for business entities.
BENEFITS
After attending this session you will be able to...
- Distinguish key internal control concepts, including the four types of internal control: preventive, detective, deterrent and compensating
- Identify ways to create strong internal controls
- Identify reasons that control measures are required, such as to deter fraud or reduce operational inefficiencies
- Determine why the control environment is important as implementation efforts are ongoing
- Apply COSO Framework concepts to three segments of an organization's technology infrastructure that must be controlled.
HIGHLIGHTS
The major topics covered in this course include:
- Underlying concepts of internal control
- Defining where and why controls, policies and procedures are needed
- Legacy control measures that are still important for businesses toda
PREREQUISITES
An understanding of Internal Control concepts
ADVANCE PREPARATION
None