Seminar on COSO Internal Control Framework

OVERVIEW:
This course will address issues for organizations that need to have an audit on their financial statements. Specifically, this course will address the procedures for conducting a risk assessment for errors and fraud from both the organization’s and auditor’s standpoint. We will review risks for financial statement preparation, operations and compliance.

 

Methods for designing and assessing the effectiveness of internal controls, including the importance of monitoring the controls, will be discussed. We will review methods for documenting the internal controls of the organization. We will review the COSO Framework for Internal Controls and provide examples of how to implement the framework. Examples of preventive and detective controls will be provided and we will review the importance of internal controls and how they can reduce the time and cost of financial statement audits and reduce the risk of fines from compliance audits.

Time : 9:00 AM to 6:00 PM
WHY SHOULD YOU ATTEND:
Financial statement audits are mandatory for public companies under the SEC rules. Governmental entities, not-for-profits, and non-public companies also commonly undergo audits. An evaluation of internal controls is a integral part of a financial statement audit. Organizations with good internal controls can reduce the risk of error and fraud throughout the organization. Organizations with good internal controls can reduce the time and cost of an audit.
AREAS COVERED IN THE SESSION:

• Internal controls designed to prevent errors and fraud
• Internal controls designed to detect errors and fraud
• Designing a good risk assessment
• Conducting a risk assessment
• Monitoring internal controls
• Using good internal controls to reduce audit costs
• Internal controls for operations
• Internal controls for compliance

WHO WILL BENEFIT:

• Professions in accounting fields such as Certified Public Accountants
• Certified Fraud Examiners
• Internal Auditors
• External Auditors
• Chief Financial Officers
• Controllers
• Accounting Managers
• Operations Managers and Business Owners would benefit from taking this course
• Additionally, anyone working in an accounting department or operations, who is responsible for accounting transactions, or compliance procedures within an organization would learn about assessing risk, designing and evaluating internal controls and the COSO Framework on internal Control.

Others Details

Day 1 and Day 2 schedule details and more updates please visit website