Internal Controls - Industry Sector (OC)

Internal controls ensure the integrity and reliability of accounting processes while protecting against fraud and corruption. The seminar reviews the main concepts of internal controls and the associated components, focusing on the COSO framework. This live virtual session will be delivered as a two-segment session (Dec 7 & 8, 8:30 am - 12:00 pm each day).

OBJECTIVE:
Internal controls ensure the integrity and reliability of accounting processes while protecting against fraud and corruption. The seminar reviews the main concepts of internal controls and the associated components, focusing on the COSO framework.

The seminar will present common internal control deficiencies specifically related to internal controls over financial reporting in a small-to-medium sized company and examine potential solutions, using discussion and exercises. Participants will identify key controls in the financial statement reporting process to address some of the main risks, including the importance of addressing segregation of duties. Furthermore, the seminar will explore the effect of technology on internal controls in small-to-medium sized companies and discuss how to monitor the internal controls in the participants’ own organizations.

WHO WILL BENEFIT:

Although most accounting professionals will gain value from this seminar, the session mainly benefits CPAs in industry with some knowledge of internal controls 

LEARNING OUTCOMES:
Participants taking this seminar will gain the following abilities:

  • recognize the relevant concepts of the COSO framework and how they relate to your company,
  • identify key controls to address some of the main risks in each component of the framework related to controls over financial reporting,
  • identify the importance of addressing segregation of duties, management override and potential for fraud,
  • understand the effect that technology may have on the development of strong controls and how technology can promote or hinder effective internal controls in a small to medium sized company,
  • understand the importance of documentation and monitoring of internal controls, and
  • develop an action plan for improvement in internal controls throughout the organization.

COURSE LEADER: STUART HARTLEY, FCPA, FCA

When
12/7/2021 8:30 AM - 12/8/2021 12:00 PM
Canada Central Standard Time
Where
Online Course

Personal Passport Eligibility

Corporate Passport Eligibility

 

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