Proper controls around the shipping process are essential in order for companies in providing accurate and timely orders to customers. A clear understanding of the key controls in a process can benefit internal auditors, business managers, and others who want to understand, improve, or audit the process.

The course allows participants to become familiar with, or brush up on, internal control definitions and concepts. The course also covers in the shipping process in detail. Participants will learn the key shipping process activities under both a manual and a computerized system. While relatively few companies may still have a purely manual system, covering the manual process will help an accountant, auditor, or business manager to better understand what the key documents received, created, and sent from the process are.

Learning Objectives
  • Recognize the definition of internal control along with internal control concepts including the continuum of internal controls for businesses, approaches for adding internal controls, and balancing costs of an evolving internal controls systems.
  • Identify risk categories including internal and external risk in addition to inherent and residual risk.
  • Recognize the typical fraud risk factors as well as the components of the Fraud Triangle and Fraud Diamond.
  • Recognize the principles to keep in mind when constructing internal controls as well as the limitations or conceptual failings of internal controls.
  • Identify internal control categories including preventative or detective controls and manual or automated controls.
  • Recognize the primary steps required to construct a system of internal controls as well as COSO’s Internal Control – Integrated Framework and the Sarbanes Oxley Act.
  • Identify the three primary shipping activities.
  • Identify key documents in the shipping process.
  • Recognize the process specific controls related to the shipping process.
  • Identify additional shipping process considerations and periodic monitoring analysis and other procedures for the shipping process.
Last updated/reviewed: August 18, 2023
2 Reviews (16 ratings)

Reviews

5
Member's Profile
Nice recap of the proper shipping process along with appropriate controls put in place to ensure proper activities. Got some ideas for additional tests to put into place.

5
Anonymous Author
This was a great continuation of the process controls text based courses that outlined the shipping process and related internal controls.

Prerequisites
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 .
Instructor for this course
Course Syllabus
COURSE MATERIAL
  Key Process Controls – Shipping PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam