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 Basics - Critical Accounting Terminology and Effective Execution of Concepts
  2. Bookkeeping Basics – Processes and Debits and Credits
  3. Bookkeeping Basics – Accrual vs. Cash Accounting
  4. Bookkeeping Basics – Payroll and Expenses
  5. Bookkeeping Basics – Formation of a Legal Entity and Establishing a Chart of Accounts
  6. Bookkeeping Basics – Utilizing Journals, Subsidiary Ledgers and the General Ledger
  7. Bookkeeping Basics – The Essential Responsibilities of the Bookkeeper on a Daily, Weekly, Monthly and Annual Basis
  8. Bookkeeping Basics – Fixed Assets and Inventory
  9. Bookkeeping Basics – Accounts Payable/Disbursements and Accounts Receivable/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 Framework Requirements and Implementation Overview
  3. Applying the Standards for Internal Auditors in Line with Your Organization's Needs - Part One
  4. Applying the Standards for Internal Auditors in Line with Your Organization's Needs - Part Two: Managing Internal Audit and Nature of Work
  5. Applying the Standards for Internal Auditors in Line with Your Organization's Needs – Part Three: Executing the Audit Engagement
  6. Identifying and Implementing the Proper Balance of Internal Controls
  7. Proper Documentation Methods for Internal Audit and Internal Controls Processes
  8. Information Technology (IT) Risks in Emerging Business Environments
  9. Foundations for a Strong Internal Audit Department
  10. Keys to Managing an Effective Internal Audit Function
  11. Internal Audit: Keys to Building Effective Relationships 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. Keys To Maintaining Objectivity and Professional Skepticism
  17. When The Whistle Blows Part 2: Managing Whistleblower Hotlines
  18. Tools for Internal Control Certificate
  19. Lessons of an Auditor- Tools for Internal Control Certificate

49 Reviews (197 ratings)Reviews

5
Member's Profile
pro: great information. con: there are a few typos but nothing major.
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
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
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.
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.
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
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
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....
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
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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 .
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