Course ID: ICDAD

Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors


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.


LEARNING OBJECTIVES
  • Recall factors that an auditor should consider when obtaining an understanding of the entity and its environment, including internal control.
  • Identify keys to success in designing a control environment with strong internal controls.
  • Recall internal control objectives, components, and principles.
  • Identify tools that can assist in the documentation of internal control.
  • Identify ways to obtain efficiencies and effectiveness in internal control in various types of smaller entities.

MAJOR TOPICS
  • Components and principles of internal control
  • Concepts associated with the COSO framework
  • Management responsibilities vs. auditor responsibilities
  • Common significant accounting processes
  • Tools and techniques used for internal control documentation

DESIGNED FOR
Auditors, managers, supervisors, accountants and others with duties critical to the system of internal control in business, government or nonprofits

PREREQUISITES
None

COURSE PRODUCER
AICPA

CPE CREDITS
8.0

LEVEL
Basic

This course is available to be scheduled as:

Group Internet Based: Webcast Group Live On-Demand - 8+ hours On-Demand Self Study
 

Let's Roll!

To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.


Or, contact BLI: 888-481-3500 or learn@blionline.org