myCPE

Proper Documentation of Internal Controls 2 Credits

Apr 04, 2025, 12:30 PM ET

Proper Documentation of Internal Controls 2 Credits

  • Lynn Fountain

    CRMA, CPA (US), CGMA

  • Rating

    4.7

  • Reviewed on

    February, 2025

  • Subject Area

    Auditing

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Apr 04, 2025, 12:30 PM ET

Learning Objectives

  • To examine the responsibilities for internal control.
  • To explore what to document and evaluate documentation types
  • To define the documentation process.
  • To identify steps to sufficient documentation.
  • To review relevant methods of flowcharting.

Course Overview

Documentation comes in all forms and types. Internal controls (IC) are critical to the effective functioning of all processes. The importance of proper and relevant documentation can be viewed as a burden. Strong, relevant documentation is critical to ensure organizations can adequately monitor, manage, and adjust their processes in line with business objectives.

This CPE Auditing Course provides insights into the critical aspects of documenting internal controls within an organization. It emphasizes the significance of documentation at various stages of process maturity, showcasing a maturity model as a tool for confirmation and agreement among process owners. We will also delve into testing processes, emphasizing the need for tailored testing templates that meet organizational needs while cautioning against using them as a checklist. We will discuss examples of substantive tests of transactions, analytical procedures, and various testing details for evidence. 

Major Topics covered:

  • Responsibilities for Internal Control
  • What to Document, and Types of Documentation
  • Policy and Procedures
  • IC Questionnaires
  • Flow Chart Symbols
  • Other Documentation and Procedure

Join this CPE course to familiarize yourself with commonly used documentation tools, such as narratives, flowcharts, internal control questionnaires, and control matrixes. Walk through COSO’s internal control template used to document an assessment of a system on internal control. 

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Auditing for Certified Public Accountants (CPA-US) 2 CPE Approved
Auditing for CPA in Canada 2 CPD Eligible
Internal Auditing for Certified Internal Auditors (CIA) 2 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 2 CPE Eligible
Auditing for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 2 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 2 CPD Eligible
Chartered Accountant - ICAEW 2 CPD Eligible
Internal Audit function for Certification in Risk Management Assurance (CRMA) 2 CPE Eligible
Internal Controls for Certified Internal Controls Auditor (CICA) 2 CPE Eligible
Auditing for Certified Financial Forensics (CFF) 2 CPD Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Auditing for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Auditing for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 2 CPE Eligible
Internal Controls for Certified Controls Specialist (CCS) 2 CPE Eligible
Chartered Accountants - Scotland 2 CPD Eligible
CPA - Ireland 2 CPD Eligible
Chartered Accountants - Ireland (CAI) 2 CPD Eligible
License details Credits Status
Auditing for Certified Public Accountants (CPA-US) 2 CPE Approved
Auditing for CPA in Canada 2 CPD Eligible
Internal Auditing for Certified Internal Auditors (CIA) 2 CPE Eligible
Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Auditing for Certified Fraud Examiner (CFE) 2 CPE Eligible
Auditing for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Auditing for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Auditing for Internal Audit Practitioner (IAP) 2 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 2 CPD Eligible
Chartered Accountant - ICAEW 2 CPD Eligible
Internal Audit function for Certification in Risk Management Assurance (CRMA) 2 CPE Eligible
Internal Controls for Certified Internal Controls Auditor (CICA) 2 CPE Eligible
Auditing for Certified Financial Forensics (CFF) 2 CPD Eligible
Auditing for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Auditing for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Auditing for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Auditing for Certified Government Auditing Professional (CGAP) 2 CPE Eligible
Internal Controls for Certified Controls Specialist (CCS) 2 CPE Eligible
Chartered Accountants - Ireland (CAI) 2 CPD Eligible
Chartered Accountants - Scotland 2 CPD Eligible
CPA - Ireland 2 CPD Eligible

Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

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About Instructor

Advance Your Career with Lynn Fountain's CE/CPE/CPD Webinars

Lynn Fountain , CRMA, CPA (US), CGMA

Owner, Lynn Fountain Consulting and Training

  • 4.5
  • rating
  • rating
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Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance.  Lynn has held two Chief Audit Executive (CAE) positions for international companies.   In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees.  The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.

Ms. Fountain is currently engaged in her own consulting and training practice.  She has successfully executed on several consulting assignments spanning areas of accounting, risk, ERM and internal audit.  She is a highly sought-after trainer and international speaker and has produced hundreds of courses delivered through seminars, conferences and on-demand training.  She is the author of three separate technical books.  

  • Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”.
  • Leading the Internal Audit Function
  • Ethics and the Internal Auditor’s Dilemma

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials. 


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To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

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After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

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What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

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To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

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To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent

Very Good

Average

Poor

Terrible

KT

Karl Tyminski, CPA (US)

5

This was a really good course. I especially enjoyed the hands on knowledge passed on related to the use of the different methods to document the internal controls or lack thereof.

GC

Greg Clarke, CMA

5

Very clear presentation. As I work in a medium sized private company it was a good refresher of what we should be reviewing on the owners behalf.

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