Instructor for this course
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This 8 credit hour course, taught by Garland Granger, CIA, CPA, CFE,  covers internal controls designed to allow for oversight in financial matters and fraud prevention, as well as how to best manage assets. 

In this course we explore how to gain a good understanding of the nature of business risk, how these risks can negatively impact the organization and the basic definition of internal controls and problems this definition has created. We discuss Chaos Theory and materiality as a vehicle to distinguish the difference between these concepts in an audit from the development and evaluation of internal controls, along with discovering the role of ethics and integrity and how they affect the effectiveness of any internal control system. Finally, we examine the 2013 COSO model for evaluating and developing internal controls and explore how to apply the concepts from these models in real-world cases.

Learning Objectives

  • Explore how to gain a good understanding of the nature of business risk, how these risks can negatively impact the organization and the basic definition of internal controls and problems this definition has created.
  • Discuss Chaos Theory and materiality as a vehicle to distinguish the difference between these concepts in an audit from the development and evaluation of internal controls.
  • Discover the role of ethics and integrity and how they affect the effectiveness of any internal control system.
  • Examine the 2013 COSO model for evaluating and developing internal controls.
  • Explore how to apply the concepts from these models in real-world cases.
Last updated/reviewed: May 26, 2019

5 Reviews (20 ratings)Reviews

5
Member's Profile
Practical teaching in implementing internal controls for small to mid-sized businesses. Good over view of COSO's 17 principles and points of focus. Good advice.
5
Member's Profile
Superb presentation by Mr. Granger. Brought a dry topic to life with his enthusiasm and relevant examples.
4
Anonymous Author
The information was overall interesting though the instructor's delivery was a bit difficult to follow.
5
Anonymous Author
This was an informative course. It was long, but held my attention
5
Member's Profile
Comprehensive, informative and well delivered course.

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  14:57Lesson 1- Course Overview and Introductory Discussion Questions
  9:35Lesson 2- Are You in Control of Your Business?
  21:02Lesson 3- Internal Controls and Chaos Theory
  27:44Lesson 4- Ethics and Internal Control - Part 1
  26:54Lesson 5- Ethics and Internal Control - Part 2
  19:33Lesson 6- A Historical Perspective on Internal Controls
  25:12Lesson 7- Overview of the 2013 COSO Report
  17:09Lesson 8- Organizational Control Concepts Under COSO - The Control Environment Part 1
  28:21Lesson 9- Organizational Control Concepts Under COSO - The Control Environment Part 2
  25:27Lesson 10- Organizational Control Concepts Under COSO - Risk Assessments
  37:50Lesson 11- Organizational Control Concepts Under COSO - Control Activities
  13:16Lesson 12- Organizational Control Concepts Under COSO - Information and Communication
  28:50Lesson 13- Risk Assessment Approach to Designing Internal Controls
SUPPORTING MATERIALS
  PDFCourse Manual: Implementing Efficient, Effective Internal Controls For Small to Mid-Size Businesses
  PDFImplementing Efficient, Effective Internal Controls For Small to Mid-Size Businesses Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM