Understanding and Creating an Internal Control System 2024

Objectives:

• Recognize key internal control concepts, including the four types of internal control: preventive, detective, deterrent and compensating • Recall how they would create strong internal controls • List reasons that control measures are required, such as to deter fraud or reduce operational inefficiencies • Recall the importance of the control environment as implementation efforts are ongoing • Identify three segments of an organization's technology infrastructure that must be controlled

Major Topics:

• Underlying concepts of internal control • Defining where and why controls, policies and procedures are needed • Legacy control measures that are still important for businesses today • Creating control measures that address the use and protection of technology

Major Topics:

• Underlying concepts of internal control • Defining where and why controls, policies and procedures are needed • Legacy control measures that are still important for businesses today • Creating control measures that address the use and protection of technology

Designed For:

CPAs, accounting and business professionals.

Prerequisites:

A basic understanding of Internal Control concepts.