Testing Internal Controls: Accounting & Auditing Live Webinar

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Testing Internal Controls: Exploring Strategies for Verifying Operating Effectiveness

Learning Objectives

To discuss generally accepted audit requirements related to testing controls for operating effectiveness.
To explain how to evaluate the results of a control reliance test for operating effectiveness.
To describe the use of Service Organization Control (SOC1) Reports on a financial statement audit.
To identify the impact of a control reliance strategy on the detailed audit plan.

Course Description

Internal controls are rules and procedures established by a company to ensure business continuity, prevent fraud, and preserve the integrity and accuracy of financial reporting. Properly designed and effectively operating internal control over financial reporting is critical for preventing, or detecting and correcting, material misstatements.

A test of internal controls is an evaluation of the existing controls, either as part of an official audit or in preparation for an audit, to see if the controls are in place and identify weaknesses. The purpose of internal controls testing is to see if the controls are properly detecting or preventing material errors or purposeful misstatements in financial reports.

This CPE webinar will describe how to satisfy the audit requirements related to taking a control reliance strategy by testing the operating effectiveness of internal controls while promoting an effective and efficient financial statement audit.

Major Topics Covered in this CPE Auditing Webinar:

Generally accepted audit requirements related to testing controls for operating effectiveness.
Identifying key controls that may prove effective and efficient to test in a control reliance strategy.
Responses when deviations are discovered when evaluating the design or operating effectiveness of internal control.
Leveraging audit evidence available through Service Organization Control (SOC1) Reports.
General computer control considerations when evaluating the design and operating effectiveness of internal control over financial reporting.

Webinar Qualifies For

2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
2 CPE Credit of Auditing for Certified Management Accountants (CMA)
2 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
2 CPD Credit of Auditing for Certified Financial Forensics (CFF)
2 CPE Credit of Internal Controls for Certified Government Financial Manager (CGFM)
2 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
2 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
2 CPE Credit of Internal Controls for Certified Internal Controls Auditor (CICA)
2 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
2 CPE Credit of Auditing for Iowa Licensed Public Accountant (IA-LPA)
2 CPE Credit of Auditing for Maine Licensed Public Accountant (ME-LPA)
2 CPE Credit of Auditing for Delaware Licensed Public Accountant (DE-LPA)
2 CPE Credit of Internal Controls for Certified Controls Specialist (CCS)

About Instructor

Jennifer Louis, CPA (US)

President, Emergent Solutions Group LLC

Jennifer F. Louis, CPA has over 25 years of experience in designing and instructing high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organization success. In 2003, she founded Emergent Solutions Group, LLC, where she focuses her energy on designing and delivering high-quality, practical, and engaging accounting and auditing training. She was most recently Director of Audit Product Development at Surgent Professional Education, and prior to that served as Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly-respected training and audit process consulting firm. Before joining AuditWatch, Jennifer was the Financial/Operational Audit Manager at AARP. At the start of her professional career, Jennifer was an Audit Manager for Deloitte & Touche LLP, where she frequently served as a local and national instructor. Jennifer graduated summa cum laude from Marymount University with a BBA-Accounting. Besides loving life on the lake with her husband in Charlotte, NC, she enjoys hiking with her little dog Frodo Beggins, and savoring any precious moments spent with her two young adult boys.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

Click Here to View

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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 through its website: www.NASBARegistry.org.

Ratings and Review

4.2

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Yinka Ehindero, ACCA

Great session on testing internal controls, highly recommended.

Ronald Winter, CPA (US)

Jen always has interesting and informed webinars !!! thank you

Ronald Stith, CPA (US)

Good Discussion on Internal Control Testing

Lauren Krigbaum, CIA

Loved the brain breaks!

Jeffrey Franklin, CPA (US)

Very good. Thanks.

2 Credits

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Subject Area

Auditing

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Testing Internal Controls: Exploring Strategies for Verifying Operating Effectiveness

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Jennifer Louis, CPA (US)

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.2

Yinka Ehindero, ACCA

Ronald Winter, CPA (US)

Ronald Stith, CPA (US)

Lauren Krigbaum, CIA

Jeffrey Franklin, CPA (US)

Subject Area

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