
Sarbanes-Oxley made it very clear that internal control is the responsibility of management – not the internal or external auditors. This requires every single individual within the organization, regardless of their role, to understand the concepts of internal controls and how they vary from day-to-day tasks of their job function
COSO 2013 has turned the focus up on understanding internal control and embedding the proper processes into the organizations daily activities. COSO 2013 added key control aspects to mandate knowledge of business and regulatory changes as well as an increased focus on information technology and fraud. It is imperative that all professionals understand the roles and responsibilities incumbent upon them when it relates to internal control.
It is also imperative that management learn and accept their critical role as it relates to the management and monitoring of internal controls.
Areas Covered in the Webinar:
- Internal control focus
- Internal control definition and history
- Internal control advantages/disadvantages
- COSO overview
- COSO 1992
- COSO 2013
- Methods to educate management
- Setting the stage
- Key monitoring methods
Who Will Benefit:
- Accountants
- Finance Personnel
- CFO
- Controller
- Board Members
- Management
- Risk and Legal Professionals
- Internal Auditors
- Compliance Professionals
- Process Improvement Professionals
Note: Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.
Learning Objectives
- Explore The Internal Control Focus
- Explore the definition and history of Internal Control
- Recognize the advantages and disadvantages of Internal Control
- Explore an overview of COSO 1992 and COSO 2013
- Identify Methods to Educate Management.
- Recognize Key Monitoring Methods
Included In Certifications
This course is included in the following Certification Programs:
15 CoursesManagement Oversight, Analysis and Internal Controls Certification
- Management Internal Control Essentials
- Comprehensive Examination of COSO 2013: Components and Principles
- Keys to an Effective Code of Conduct
- Fraud Risk Assessments
- Enterprise Risk Management 101
- Identifying and Implementing the Proper Balance of Internal Controls
- Information Technology (IT) Controls in Emerging Business Environments
- Analyzing Financial Ratios - Solvency, Liquidity and Debt
- Analyzing Financial Ratios - Leverage
- Effectively Managing and Controlling Travel and Entertainment (T&E) Expenses
- Keys to Understanding Conflicts of Interest
- Documentation Methods For Internal Control Processes
- Segregation of Duties for Core Business Processes
- Professional Skepticism - Keys to Maintaining
- Whistleblower Hotlines - Effective Management
14 CoursesProfessional Bookkeeping Certification
- Bookkeeping: Terminology and Process Execution
- Bookkeeping: Debits And Credits
- Bookkeeping: Cash vs. Accrual
- Bookkeeping: Payroll And Expenses
- Bookkeeping: Legal Entity And Chart Of Accounts
- Bookkeeping: Journals, Subsidiary Ledgers and General Ledger
- Bookkeeping: Responsibilities
- Bookkeeping: Fixed assets and inventory
- Bookkeeping: Accounts Payable/Accounts Receivable And Receipts
- Management Internal Control Essentials
- GAAP Principles, Assumptions and Considerations
- GAAP Presentation of Financial Statements
- Bookkeeping Basics – Case Study Scenario
- Useful Bookkeeping Tools
15 CoursesNot-For-Profit and Small Business Entities Certification
- Introduction to Accounting For Not-for-Profit Entities
- Introduction to Accounting for Not-For-Profit entities
- Identifying and Implementing the Proper Balance of Internal Controls
- Segregation of Duties for Core Business Processes
- Bookkeeping: Journals, Subsidiary Ledgers and General Ledger
- Bookkeeping: Payroll And Expenses
- Bookkeeping: Accounts Payable/Accounts Receivable And Receipts
- Effectively Managing and Controlling Travel and Entertainment (T&E) Expenses
- Management Internal Control Essentials
- Financial Statement Essentials for Not-for-Profits
- Not-for-Profit Financial Statements Part 2
- Not for Profit Financials - Focus on Net Assets
- Cyber Risk in Small-Medium Entities
- Fraud in Small-Medium Entities
- Not-For-Profit Accountability and Responsibility
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Prerequisites
No Advanced Preparation or Prerequisites are needed for this course.