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Segregation of Duties, Documentation and Other Essentials for Management of Internal Controls

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA

Published: May, 2022

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

The effects of the many corporate scandals over the past twenty years have made it very clear that internal control is the responsibility of management – not the internal or external auditors. This requires every single individual within the organization, regardless of their role, to understand the concepts of internal controls and how they vary from day-to-day tasks of their job function.

COSO 2013 has turned the focus upon understanding internal control and embedding the proper processes into the organization's daily activities. COSO 2013 added key control aspects to mandate knowledge of business and regulatory changes as well as an increased focus on information technology and fraud. It is imperative that all professionals understand the roles and responsibilities incumbent upon them when it relates to internal control. 

It is also imperative that managers learn and accept their critical role as it relates to the management and monitoring of internal controls.

This online CPE course on Auditing covers the following Key Topics:

  • Internal control focus
  • Internal control definition and history
  • Internal control advantages/disadvantages
  • COSO overview
  • COSO 1992
  • COSO 2013
  • Methods to educate management 
  • Setting the stage
  • Key monitoring methods

Join this CPE course to understand everything about Segregation of duties, Documentation, and other essentials for Management of Internal Controls.

Here is the link to your interests: CIA CPE Courses for Certified Internal Auditors

Modules

  • 1.1 Introduction and Agenda
  • 00:05:45
  • 1.2 SOD Basics
  • 00:08:22
  • 1.3 Defining SOD
  • 00:02:09
  • 1.4 Risks of Inadequate SOD
  • 00:09:07
  • 1.5 SOD in Business Functions
  • 00:05:08
  • 1.6 SOD By Roles
  • 00:25:55
  • 1.7 SOD Disbursement Function
  • 00:12:09
  • 1.8 SOD Treasury
  • 00:15:40
  • 1.9 Control Mechanisms
  • 00:10:22
  • 1.10 Summary
  • 00:01:41

  • 2.1 Introduction and Agenda
  • 00:05:49
  • 2.2 Responsibilities for Internal Control
  • 00:21:10
  • 2.3 Exploring what to document
  • 00:19:51
  • 2.4 Documentation types
  • 00:24:52
  • 2.5 Establishing a defined documentation process
  • 00:04:18
  • 2.6 Steps to documentation
  • 00:09:41
  • 2.7 Flow chart symbols
  • 00:05:43

  • 3.1 Maturity Model
  • 00:05:21
  • 3.2 Issue Tracker
  • 00:02:37
  • 3.3 Testing Processes
  • 00:07:32
  • 3.4 Internal Audit Formal Reports
  • 00:03:55
  • 3.5 Summary
  • 00:01:33

  • 4.1 Introduction and Agenda
  • 00:02:36
  • 4.2 Internal Control Focus
  • 00:06:58
  • 4.3 Internal Control Definition and History
  • 00:06:06
  • 4.4 Advantages and Disadvantages
  • 00:04:14
  • 4.5 COSO Overview
  • 00:07:29
  • 4.6 COSO 1992 and 2013
  • 00:17:32

  • 5.1 Educating Management
  • 00:08:32
  • 5.2 Setting the stage
  • 00:02:26
  • 5.3 Types of controls
  • 00:10:55
  • 5.4 Monitoring
  • 00:06:33

  • 6.1 Summary
  • 00:02:12
  • 6.2 Ending Speech
  • 00:00:08

Learning Objectives

  • To explore The Internal Control Focus
  • To explore the definition and history of Internal Control
  • To recognize the advantages and disadvantages of Internal Control
  • To explore an overview of COSO 1992 and COSO 2013
  • To identify Methods to Educate Management.
  • To recognize Key Monitoring Methods

Recommended For

  • This CPE webinar on internal controls is suitable for CPA, CGAP, CMA, CVA, IAP, QIAL, MAFF, CBA/MCBA,Accountants, Auditors, Finance Personnel, CFO, Controller, Board Members, Management, Risk and Legal Professionals, Internal Auditors, Compliance Professionals, and Process Improvement Professionals.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Certified Senior Advisor
  • Cloud Accountants
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 6 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
  • 6 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
  • 6 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 6 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 6 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 6 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
  • 6 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
  • 6 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 6 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 6 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 6 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 6 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
  • 6 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)

Additional details

  • Course Level :
    Basic
  • Credits :
    6
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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Presenter

About Presenter

Lynn Fountain, CRMA, CPA (US), CGMA, MBA

Owner, Lynn Fountain Consulting and Training

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. 


About Company

Lynn Fountain Consulting and Training