This is the beginning of a series that will cover major aspects of the Controllership function. Controllers are essential to the day-to-day accounting for organizations. Yet, the role is not often readily understood. In today’s world of acronyms such as CFO, CEO, COO, CAO, etc., the Controller function may get lost in the shuffle. However, they are a critical group of professionals who ensure the adequacy and transparency of accounting and financial reporting information.
A Controller is an individual who has responsibility for all accounting-related activities including high-level accounting, managerial counting, and finance activities within a company. The duties of a Controller include assisting with the preparation of the operating budgets, overseeing financial reporting, and performing essential duties relating to payroll. However, in today’s evolving world, the Controller function can provide much more in-depth value to their organizations. This series is dedicated to exploring the traditional Controller role and stepping out of the box to identify areas where the Controller can add strategic value to their organizations.
In this first course we focus on the typical Controller function and begin to identify ways to elevate the function.
DESIGNED FOR
Anyone who performs audit or other attest services
BENEFITS
- Describe the potential impact of risks faced by public accountants when performing audit and other attest services
- Explain the results of the findings and recommendations made by the Center for Audit Quality and PCAOB as an outcome from quality control reviews
- Recall common peer review deficiencies in all types of attest engagements
- Apply best practices for ensuring professional, technical, regulatory and ethical standards for various audit and other attest services
HIGHLIGHTS
- Applying professional skepticism to ensure quality work
- Meaningful risk assessment when designing work programs for various levels of services
- Proper planning and supervision of all engagements
- Accountant responsibilities for evaluating internal control
- Strengthening analytic procedures to support conclusions
- Complying with the Code of Professional Conduct and quality management standards
PREREQUISITES
None
ADVANCE PREPARATION
None