Internal Control Essentials for Financial Managers, Accountants and Auditors

Choose the format that best meets your self-study/on-site group study needs

This course is designed to give you a solid understanding of systems and control documentation at the significant process level. After an overview of the latest COSO guidance on the components and principles of effective internal control, it will introduce the basic tools used to document an accounting process. You will then be able to identify the risks of errors and fraud in the accounting system, and the presence (or absence) of compensating controls. Finally, you will practice identifying key controls and control weaknesses.

This course should help management, as well as internal and external auditors, in complying with the risk assessment standards (for non-public entities) and AS No. 5 (for public entities).

Objective:

• Interpret basic documentation of a significant accounting process, identify the significant risks of frauds and errors, locate the presence or absence of compensating controls, and identify key controls and control weaknesses
• Learn how to prepare documentation to comply with both the risk assessment standards and AS No. 5

Prerequisite: None

View a sample video clip:

In this 143-min video, author Glenn L. Helms, Ph.D., CPA, CIA, CISA, CFF, author and speaker, discusses internal controls with Lynford Graham, Ph.D., CPA, CFE, author, educator, and consultant on accounting and auditing matters; Anne M. Marchetti, President of Account-Ability Consulting, Sarbanes-Oxley compliance author, speaker, and consultant; Scott J. Auer, CPA, CMA, CIA, the CFO and Controller of Praeses, LLC; and Frank S. Venezia, CPA, Director of Accounting and Auditing Services with Marvin and Company, P.C. and Peer Review Committee chair of the New York State Society of CPAs.