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 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

  1. Internal Controls: What Every Financial and Accounting Professional Needs to Know
  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

21 Reviews (75 ratings)Reviews

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
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.
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.
3
Anonymous Author
Provides great information. This course is a great introduction into understanding internal controls as an auditor.
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
Good overview of IC and COSO. Slides were not too detailed, but detailed enough to get point across.
5
Member's Profile
This presentation has been a great overview and refresher of internal controls and COSO.
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.
3
Member's Profile
Great refresher and review of internal controls and COSO.
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
  8:11Internal Controls Focus
  10:15IC Definition and History
  5:48Advantages and Disadvantages
  11:46COSO Overview
  7:30COSO 2013
  7:36Educating Management
  4:48Setting The Stage
  10:21Types of Controls
  11:17Monitoring
CONCLUSION
  4:54Course Summary
Continuous Play
  1:27:49Internal Controls - What every Finance and Accounting Person Needs to Know
SUPPORTING MATERIALS
  PDFSlides: Internal Controls
  PDFInternal Controls Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM