Critical Internal Control Concepts for Managing Financial Reporting and Other Risks

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Learning Objectives

• Describe the basics of internal controls, and make clear the important role that each person within an organization plays in a sound internal controls system.
• Explain a common framework for understanding and designing internal controls – The COSO Report: Internal Control – Integrated Framework, and how to monitor the effectiveness of those controls.
• Apply best practices in evaluating the design and operating effectiveness of internal control to manage reliable financial reporting risk and other risks.

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Major Topics

• Current events – Why this topic is important now more than ever!
• Overview of the COSO Report: Internal Control – Integrated Framework
• Defining the components that comprise a sound internal control environment
• Organization tone – How it influences the control consciousness of its people
• Analyzing risks relevant to achieving financial reporting objectives
• Identifying key controls over financial reporting

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Who Should Attend

Public accountants, industry accountants, internal auditors and others that desire to better understand how to mitigate financial reporting risk through internal control.

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Fields of Study

Auditing

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Prerequisites

None

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Provider

Business Learning Institute

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CPE Credits

4.0

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Level

Basic