Internal System Controls

Learning Objectives

• To explore risk and how internal controls can mitigate risk. Define inherent risk, control risk and detection risk.
• To identify the five components of the Committee of Sponsoring Organization's (COSO) internal control model.
• To identify the Board of Directors role related to company operations and the shareholders.
• To explore the internal control portions of the Foreign Corrupt Practices Act and the Sarbanes-Oxley Act.
• To recognize the role of the Public Company Accounting Oversight Board (PCAOB) in providing guidance in auditing internal controls.

Course Description

The purpose of the system of controls established by management is to carry on the business of the enterprise in an orderly and efficient manner. It also serves other key benefits such as ensuring adherence to management policies, safeguarding the assets and ensuring as far as possible the completeness and accuracy of the records. However, clarity in understanding various technicalities is very important to achieve these benefits.

This webinar will provide an overview of the essential elements of internal and systems controls. Special consideration is given to understanding risk, internal control frameworks, corporate governance, legal requirements, the role of external and internal auditing, and systems controls. 

Key Topics include:

• Risks and Internal Controls
• Internal Control Framework
• Types of Internal Controls
• Governance and the Board of Directors
• Legal Compliance
• Role of External Auditors
• Role of Internal Auditors
• Systems Controls
• Security Measures

Join this webinar and learn a pathway to developing your analytical and critical-thinking skills and closing skills gaps in a variety of relevant topics.

Overview

• Risk Assessmnet and Management

  3 mins
• Organization Control Elements

  17 mins
• Directive Control: Limit Access

  34 mins
• Material Misstatement

  75 mins
• Purpose of Internal Audits

  84 mins
• Goals of Information Security

  103 mins