Surgent's Internal Controls, COSO, and COVID-19

Available Anytime

Location: Online

4Credits

Accounting and Auditing

Registration is Open

FICPA Members

~~$129.00 Regular Price~~

Nonmembers

$189.00 Regular Price

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	Name	Email	Firm Office

Product Code: SU24-ICC4-SSWC

Level: Basic

Vendor: Surgent

Field of Study: Auditing

Overview:

Companies that fall victim to fraud schemes need to reassess internal controls in order to prevent future fraudulent activity. In this course, we will review the 18 most prevalent internal controls that should be present (as well as designed and operating effectively) in order to prevent future frauds. These controls are taken from Association of Certified Fraud Examiners' Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse. Then we will tie these controls to the 17 internal control principles offered by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), the framework used by virtually all entities and auditors to assess the design and operational effectiveness of internal controls. Lastly, we will consider the impact of the 2020 pandemic on internal controls in the coming era.

Objectives:

Understand that fraud occurs in companies with seemingly sound internal control structures
Assess how internal controls fit into the COSO framework and determine whether mitigating controls are sufficient
Understand the difference between reactions and responses to changing circumstances
Recognize that the days of working in an office may be numbered (or certainly reduced)
Understand that audits and other attestation engagements can actually be performed remotely, reducing time and cost

Major Topics:

ACFE's Report to the Nations and the most commonly found controls in fraud victim organizations
Internal controls in relation to COSO principles
How to employ controls to cut losses
How to modify controls in the post-COVID era
The potential impact of increased enforcement of laws and regulations to replenish government coffers
Remote work circumstances and considerations

Designed For:

CPAs in public practice and industry who wish to educate clients or colleagues on how to assess internal controls and adapt in the post-COVID era

Prerequisite:

None

Additional Info:

You will receive an email from [email protected] with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.

For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.