A properly designed and effectively operating system of internal control is critical to risk management. This course will provide insights into the most important concepts related to internal control to mitigate financial reporting and other risks.
Course ID: RIAIIC
The Role of Internal Audit in Improving Internal Controls
Learning Objectives
• Recognize the basics of internal controls, and make clear the important role that each person within an organization plays in a sound internal controls system
• Identify 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 risk
Major Topics
• 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
Who Should Attend
Anyone responsible for identifying and managing enterprise risks
Fields of Study
AuditingPrerequisites
None