Understanding & Creating an Internal Control Structure
Successful organizations, both large and small, must understand the importance of effect internal controls and be able to develop a system of controls that will keep the entity on its intended course. Moreover, those who design policies and procedures, benefit by knowing why control measures are necessary. This session sets forth internal control concepts and explains the importance of strong internal control policies. The material highlights some of the reasons that measures are needed, and it also provides an overview of control creation methods. Finally, it discusses ways to successfully implement the developed policies and procedures. Participants that take this course will gain a well-rounded understanding of internal control procedures of all types.
Once participants have completed this session they should be able to * Understand key internal control concepts, including the four types of internal control: preventive, detective, deterrent, and compensating * Explain how they would create strong internal controls * List reasons that control measures are required such as to deter fraud or reduce operational inefficiencies * Explain the importance of the control environment as implementation efforts are ongoing * List three segments of an organizations technology infrastructure that must be controlled
* This session is taught via the use of case studies adapted from real-world examples * These studies effectively show participants successful entities that rely on their control structure to propel their prosperity as well as businesses that struggled or failed because proper controls were never instituted * The topics discussed in this session include * 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
Who Should Attend
Accounting and other business professionals who would like to have an understanding of internal controls for business entities
A basic understanding of Internal Control concepts
Additional Event Information
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CPE Select Pass Policies
The CPE Select pass is available only for NCACPA members and the price is applicable for an individual user. The pass includes access to on demand and webinar programs, but excludes webcasts, “hot topic” webinars, and on demand Ethics programming. All eligible programs for the CPE Select pass will be marked in the online catalog and in promotions. Licensed CPAs who elect the student membership status must provide proof of enrollment in an advanced degree.
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