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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 the 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 organization's daily activities. COSO 2013 has added key control aspects to mandate knowledge of business and regulatory changes as well as an increased focus on information technology and its controls. 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.
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: October 8, 2018
Included In Certifications
This course is included in the following Certification Programs:
17 CoursesInternal Controls Certification
- Internal Controls: What Every Financial and Accounting Professional Needs to Know
- COSO 2013 Framework Requirements and Implementation Overview
- Applying the Standards for Internal Auditors in Line with Your Organization's Needs - Part One
- Applying the Standards for Internal Auditors in Line with Your Organization's Needs - Part Two: Managing Internal Audit and Nature of Work
- Applying the Standards for Internal Auditors in Line with Your Organization's Needs – Part Three: Executing the Audit Engagement
- Identifying and Implementing the Proper Balance of Internal Controls
- Proper Documentation Methods for Internal Audit and Internal Controls Processes
- Information Technology (IT) Risks in Emerging Business Environments
- Foundations for a Strong Internal Audit Department
- Keys to Managing an Effective Internal Audit Function
- Internal Audit: Keys to Building Effective Relationships with the Audit Committee
- Understanding Risk-Based Auditing
- Risk Based Auditing – Establishing a Methodology
- Risk Based Auditing – Applying the Methodology
- Segregation of Duties for Core Business Processes
- Keys To Maintaining Objectivity and Professional Skepticism
- When The Whistle Blows Part 2: Managing Whistleblower Hotlines
31 Reviews (112 ratings)Reviews
Brenda Gooshaw Samson
(Director of Professional Services Operat.. at Cofense)
The presenter had noisy jewelry on that was distracting. There were some typos in the materials and test.
Anonymous
(Accounting Manager)
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.
Anonymous
(Auditor)
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.
John Filbert
(Consultant at DLC Group)
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.
Kevin Murray
(Manager of Finance at NYSTRS)
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.
Thomas Hayes
(Clinical Associate Professor at University of Arkansas)
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.
Jennifer Welch
(AVP Internal Auditor III at Community Bank of Texas)
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.
Sam Grosoff
(Associate at RSM)
I've effectively learned about internal controls and what every financial and accounting professional should know regarding the topic.
K Harper
( at JLL)
GOOD OVERVIEW FOR ANY ORGANIZATION AS THEY INTRODUCE IC MEASURES
David Weichert
(Director of Finance and Administration at Parking Authority of the City of Lancast..)
Good introduction to the concepts of internal control and how it needs to be considered at all levels of an organization.
Anonymous
(Auditor)
Provides great information. This course is a great introduction into understanding internal controls as an auditor.
Anonymous
(Risk and Control Manager)
Solid general overview of defining controls and how to help implement a good control environment/culture.
Anonymous
(Program Management)
If you don't have an idea or concept of what internal controls is, then this is the best course for you.
Anonymous
(Senior Manager, External Reporting and C..)
Good overview of IC and COSO. Slides were not too detailed, but detailed enough to get point across.
Anonymous
(Sr. Accountant)
A great overview of the importance of Internal Controls and who is responsible in an organization.
Cristina Palacios
(Senior Internal Auditor at CommunityBank of Texas)
This presentation has been a great overview and refresher of internal controls and COSO.
Anonymous
(Auditor I)
The instructor used great examples and the material was a breeze to understand.
Corey Masters
(Risk Specialist at PNC Investments)
A really good summary course on internal controls and their benefits.
Anonymous
(None)
A good course to explain the purpose and need of internal controls.
Ibrahim Khalil
(Accounting Manager at Laith Al Obaidi Cars Trading)
Good and simple, the explanation is good and understandable....
Lou Mortillaro, CMA
(Accounting Manager at American Financial Resources)
Good introductory course for those looking for an overview.
Edmeire Oliveira
(Director of Accounting Latam at EZCorp)
interesting subject, well distributed , good instructor
Sophia Kasozi
(- at City of Edmonton)
Great refresher and review of internal controls and COSO.
Anonymous
()
Good course. The Coso update was helpful as a refresher.
Marci Earnest
(Accounting Manager at Transtron America, Inc.)
I don't know what to say. This is the first lesson.
Anonymous
(ABCDE)
Good overview of COSO history and current framework
Anonymous
(-)
A good course that was communicated well.
Anonymous
(Manager Internal Audit)
Good overview of internal controls
Anonymous
()
informative course.
Anonymous
(Sr. Internal Auditor)
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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 .