Instructor for this course
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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

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
Last updated/reviewed: November 10, 2019

Included In Certifications

This course is included in the following Certification Programs:

14 CoursesProfessional Bookkeeping Certification

  1. Bookkeeping: Terminology and Process Execution
  2. Bookkeeping: Debits And Credits
  3. Bookkeeping: Cash vs. Accrual
  4. Bookkeeping: Payroll And Expenses
  5. Bookkeeping: Legal Entity And Chart Of Accounts
  6. Bookkeeping: Journals, Subsidiary Ledgers and General Ledger
  7. Bookkeeping: Responsibilities
  8. Bookkeeping: Fixed assets and inventory
  9. Bookkeeping: Accounts Payable/Accounts Receivable And Receipts
  10. Management Internal Control Essentials
  11. GAAP Principles, Assumptions and Considerations
  12. GAAP Presentation of Financial Statements
  13. Bookkeeping Basics – Case Study Scenario
  14. Useful Bookkeeping Tools

19 CoursesInternal Controls Certification

  1. Management Internal Control Essentials
  2. COSO 2013 Overview
  3. Internal Audit Standards Overview
  4. Internal Audit Standards - Managing Internal Audit Work
  5. Internal Audit Standards - Executing the Audit Engagement
  6. Identifying and Implementing the Proper Balance of Internal Controls
  7. Documentation Methods For Internal Control Processes
  8. Information Technology (IT) Risks in Emerging Business Environments
  9. Foundations for a Strong Internal Audit Department
  10. Internal Audit: Keys to Managing an Effective Function
  11. Internal Audit Effective Relations with the Audit Committee
  12. Understanding Risk-Based Auditing
  13. Risk Based Auditing – Establishing a Methodology
  14. Risk Based Auditing – Applying the Methodology
  15. Segregation of Duties for Core Business Processes
  16. Professional Skepticism - Keys to Maintaining
  17. Whistleblower Hotlines - Effective Management
  18. Tools for Internal Control Certificate
  19. Lessons of an Auditor- Tools for Internal Control Certificate

19 CoursesINTERNAL CONTROLS CERTIFICATION - THE VIRTUAL LIVE PROGRAM

  1. COSO 2013 Overview
  2. Management Internal Control Essentials
  3. Identifying and Implementing the Proper Balance of Internal Controls
  4. Documentation Methods For Internal Control Processes
  5. Segregation of Duties for Core Business Processes
  6. Professional Skepticism - Keys to Maintaining
  7. Whistleblower Hotlines - Effective Management
  8. Understanding Risk-Based Auditing
  9. Internal Audit Effective Relations with the Audit Committee
  10. Internal Audit Standards Overview
  11. Internal Audit Standards - Managing Internal Audit Work
  12. Internal Audit Standards - Executing the Audit Engagement
  13. Information Technology (IT) Risks in Emerging Business Environments
  14. Foundations for a Strong Internal Audit Department
  15. Internal Audit: Keys to Managing an Effective Function
  16. Risk Based Auditing – Establishing a Methodology
  17. Risk Based Auditing – Applying the Methodology
  18. Tools for Internal Control Certificate
  19. Lessons of an Auditor- Tools for Internal Control Certificate

17 CoursesPROFESSIONAL BOOKKEEPING CERTIFICATION - THE VIRTUAL LIVE PROGRAM

  1. Bookkeeping: Terminology and Process Execution
  2. Bookkeeping: Legal Entity And Chart Of Accounts
  3. Bookkeeping: Responsibilities
  4. Management Internal Control Essentials
  5. GAAP Principles, Assumptions and Considerations
  6. Bookkeeping: Debits And Credits
  7. Bookkeeping: Cash vs. Accrual
  8. Bookkeeping: Payroll And Expenses
  9. Bookkeeping: Journals, Subsidiary Ledgers and General Ledger
  10. Bookkeeping: Fixed assets and inventory
  11. Bookkeeping: Accounts Payable/Accounts Receivable And Receipts
  12. GAAP Presentation of Financial Statements
  13. Bookkeeping Basics – Case Study Scenario
  14. Financial Statement Introduction
  15. Information Technology (IT) Risks in Emerging Business Environments
  16. Segregation of Duties for Core Business Processes
  17. Useful Bookkeeping Tools

14 CoursesNot-For-Profit and Small Business Entities Certification

  1. Introduction to Accounting For Not-for-Profit Entities
  2. Accounting for Not-for-Profit Entities
  3. Identifying and Implementing the Proper Balance of Internal Controls
  4. Segregation of Duties for Core Business Processes
  5. Bookkeeping: Journals, Subsidiary Ledgers and General Ledger
  6. Bookkeeping: Payroll And Expenses
  7. Bookkeeping: Accounts Payable/Accounts Receivable And Receipts
  8. Effectively Managing and Controlling Travel and Entertainment (T&E) Expenses
  9. Management Internal Control Essentials
  10. Financial Statement Essentials for Not-for-Profits
  11. Not-for-Profit Financial Statements Part 2
  12. Not for Profit Financials - Focus on Net Assets
  13. Cyber Risk in Small-Medium Entities
  14. Fraud in Small-Medium Entities

56 Reviews (223 ratings)Reviews

5
Member's Profile
Another great overview of details over the topic. Lynn is a great teacher with good explanation.
4
Anonymous Author
This was a great course that not only laid out the established framework we should all follow in the accounting departments of our respective companies, but also gave practical examples on how to follow them, along with a coat/benefit analysis of doing so at the end.
5
Member's Profile
I took a few individual courses designed by Lynn before enrolling in the Cert program. So there have not been any surprises to me and as expected the course was of the highest quality. it is great as an intro to the program or more advanced courses.
5
Anonymous Author
This course explains the importance of internal controls and how they should be properly put in place in each company. It also provides an introduction to COSO 1992 and COSO 2013 and explains the differences that came with the release of COSO 2013.
5
Anonymous Author
The course provides a great overview of the broad internal controls, why they are important for management, an example mix of proper internal controls, and the regulatory reasons for why internal controls are necessary to the business enterprise.
5
Member's Profile
Great course to test your internal control knowledge. I would highly recommend to any accounting professional that is responsible for establishing and maintaining controls in their organization.
5
Member's Profile
The text and presentation was clear and understandable. Very easy to follow along with the accompanying pdf. The way the course is broken up helps with completing it on your on time.
5
Member's Profile
An excellent course to explain how and why internal controls need to be developed and monitored by management. The title is appropriate in that all financial managers need to know.
5
Member's Profile
Well-organized course. I'm surprised at how much I need to learn with the new COSO standards. I think anyone that teaches, uses, or audits internal controls would benefit.
4
Anonymous Author
This is a good refresher for those who have a good experience on internal controls. The presentation is very organized and the instructor is very knowledgable of the topic.
5
Member's Profile
The COSO information presented was excellent. Being able to integrate all of the different elements of this course into your daily operations routine is extremely helpful.
4
Member's Profile
This is a good general introduction to the internal controls program. I really liked the sections on educating management and setting the stage. Thanks.
5
Anonymous Author
Again this is a great course on internal controls. Very helpful for those who are starting at entry level to understand the value and importance of IC.
5
Member's Profile
The course provide refreshing concepts and materials on COSO, type of controls, setting the stage, monitoring, etc. I am glad I selected the course.
5
Member's Profile
I've effectively learned about internal controls and what every financial and accounting professional should know regarding the topic.
4
Member's Profile
GOOD OVERVIEW FOR ANY ORGANIZATION AS THEY INTRODUCE IC MEASURES
5
Anonymous Author
Excellent course outlining all of the key points of a control framework - very pragmatic content and well delivered. Thank you.
4
Anonymous Author
This course was very helpful and informative. I liked that it gave me a better understanding of Internal Control Essentials.
5
Anonymous Author
Great course on internal controls, serving as an overview and introduction before jumping into more details and substance.
5
Member's Profile
Good introduction to the concepts of internal control and how it needs to be considered at all levels of an organization.
3
Anonymous Author
Provides great information. This course is a great introduction into understanding internal controls as an auditor.
5
Anonymous Author
# I like this because it it simple yet powerful to make understand participants essentials of internal control;
5
Anonymous Author
This course on Management of internal controls was a well balanced course. I will train my coworkers from this.
5
Member's Profile
Internal control functions and the basis of SOX and COSO frameworks were effectively taught in this course.
4
Member's Profile
Very good course on the revised coso framework presented by the lynn fountain - fast moving and relevant.
5
Anonymous Author
Solid general overview of defining controls and how to help implement a good control environment/culture.
4
Anonymous Author
If you don't have an idea or concept of what internal controls is, then this is the best course for you.
4
Anonymous Author
A great overview of internal controls. I felt it could have been communicated in half the time though.
4
Anonymous Author
Good overview of IC and COSO. Slides were not too detailed, but detailed enough to get point across.
4
Anonymous Author
Good class. Lays out overall foundation of internal controls. Provides a good history on the COSO.
5
Anonymous Author
A great overview of the importance of Internal Controls and who is responsible in an organization.
4
Anonymous Author
Solid overview of internal controls. The course was well planned and topics covered thoroughly.
5
Member's Profile
This presentation has been a great overview and refresher of internal controls and COSO.
4
Anonymous Author
Great overview of the new COSO 2013 and how it is applied within the organization.
5
Anonymous Author
The instructor used great examples and the material was a breeze to understand.
5
Anonymous Author
Always enjoy taking Lynn's courses. A great introduction into Internal Control.
5
Anonymous Author
Topic was covered in a though manner with additional input from the lecturer.
5
Anonymous Author
Well structured course. Presenter gives practical examples. Quality content.
5
Member's Profile
This course was very informative and very relevant to today's situations.
5
Member's Profile
pro: great information. con: there are a few typos but nothing major.
5
Anonymous Author
Well designed and very informative course that fully met its objectives.
5
Member's Profile
A really good summary course on internal controls and their benefits.
5
Anonymous Author
A good course to explain the purpose and need of internal controls.
5
Member's Profile
Good and simple, the explanation is good and understandable....
5
Anonymous Author
Easy to understand and remember, it is completely comprehensive
4
Member's Profile
Good introductory course for those looking for an overview.
5
Member's Profile
interesting subject, well distributed , good instructor
3
Member's Profile
Great refresher and review of internal controls and COSO.
4
Anonymous Author
Good course. The Coso update was helpful as a refresher.
4
Member's Profile
Fast and intense overview about the aforementioned issue
5
Member's Profile
I don't know what to say. This is the first lesson.
4
Anonymous Author
Good overview of COSO history and current framework
5
Anonymous Author
A good course that was communicated well.
4
Anonymous Author
Good overview of internal controls
4
Anonymous Author
informative course.
5
Anonymous Author
.

Prerequisites

Course Complexity: Foundational

No Advanced Preparation or Prerequisites are needed 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
Internal Controls: Focus, History, COSO and More
  6:53Internal Control Focus
  6:02IC Definition and History
  4:10Advantages/Disadvantages
  13:59COSO Overview
  10:55COSO 2013
  8:24Educating Management
  2:21Setting The Stage
  10:53Types of Controls
  6:31Monitoring
CONCLUSION
  2:09Course Summary
Continuous Play
  1:15:46Management Internal Control Essentials
SUPPORTING MATERIALS
  PDFSlides: Internal Controls
  PDFInternal Controls Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM