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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: May 06, 2018
Included In Certifications
This course is included in the following Expert Certifications:
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
21 Reviews (75 ratings)Reviews
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.
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.
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
(Manager, External Reporting and ICFR)
Good overview of IC and COSO. Slides were not too detailed, but detailed enough to get point across.
Cristina Palacios
(Senior Internal Auditor at CommunityBank of Texas)
This presentation has been a great overview and refresher of internal controls and COSO.
Corey Masters
(Risk and Control Self Assessment at PNC Capital Advisors)
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.
Sophia Kasozi
(- at City of Edmonton)
Great refresher and review of internal controls and COSO.
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 .