CREATING AND IMPLEMENTING EFFECTIVE INTERNAL CONTROLS
In this seminar you'll learn...
How to avoid costly fines by complying with Sarbanes-Oxley 404
How to reduce the risk of fraud in your accounting cycles
How to satisfy the three objectives of useful internal controls
How to monitor the reliability of your financial information
And much more!
Strong internal controls directly impact the efficient and effective operation of an organization and improve business performance—no one will argue with that in this day and age. If you could use better and faster ways to put into place the internal controls so necessary to your organization´s financial strength and success, this workshop can show you how. When you attend, you´ll arm yourself with a simple and workable system for developing internal controls no matter what size and type organization you have. Find out how quick and easy it is to create a reliable framework that will allow you to identify and evaluate risk, monitor and manage control activities and meet your compliance obligations now and in the future. Enroll today and gain a wealth of tips, checklists and tools to make one of the most sound decisions you can make to protect your company´s financial health.
WORKSHOP AGENDA
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Program hours: 9:00 a.m. – 4:00 p.m.
The "what" and "why" of internal controls
The importance of well-defined internal controls—from the mailroom to the boardroom
A big picture view of what internal controls really are
Controls—they´re NOT just the auditor´s responsibility
How COSO, AICPA and SOX define internal controls
Do your internal controls fulfill the 3 objectives required to be useful?
What internal controls can—and can´t—do
Set up a solid internal control structure
5 components of internal controls and why each is essential
A close look at each component and how to meet its criteria for effectiveness
Monitoring your control structure—your safety net for catching problems early on
Soft or hard controls? Which—surprisingly—are more important to your company in the long term
How to create a control environment that sets the tone of your organization
Assess risk in a fast-changing business environment
How risk is defined
Setting objectives—a pre-condition to risk assessment
Identifying inherent and residual risk
Why a deep understanding of internal and external sources of risk is critical
Determining risk likelihood—factors to consider
Measuring risk´s actual impact on your organization
Controlled Self-Assessment (CSA): The benefits and barriers
What you need to know about Enterprise Risk Management (ERM)
Identifying and mitigating high-risk areas in your company
Easily manage and monitor control activities
What exactly is the goal of an operational audit?
Preventive and detection controls and their unique roles
The ORCA risk assessment—where understanding and defining risk begins
What ORCA assesses
How to improve the quality of your operational audit program
The components of a solid individual audit program
Simplify compliance with Sarbanes-Oxley
How SOX has raised the bar when it comes to internal controls
The controls demanded by SOX—and why they are vitally important
Easy ways to simplify compliance with SOX 302 and 404
The "management assessment of internal controls"—how this section of SOX has sparked a revolution in accounting departments
Interpreting the PCAOB´s guidance on assessing internal control effectiveness
Frequently asked questions about SOX 404—and the answers
Develop a reliable system of internal accounting controls
Clearing up common misconceptions about internal controls
Where audits most commonly occur in the accounting cycle
Why you have to understand how the accounting cycle works
Where controls break down in accounting—and fraud occurs
Control categories in accounting
What you need to know about financial audits in your company
Best practices for control monitoring and reporting
Testing and evaluating internal controls—do´s and don´ts
Using control documentation to communicate vital information to management
Should you automate the testing and evaluation of your internal controls?
Creating clear and useful reports—practical tips to follow
Key monitoring activities that will tell you if your controls are working
CEU Credits: 0.5
CPE Credits: 6
Field of Study: Finance
NASBA#: 107691
US/Canada:
1-800-873-7545
United Kingdom:
0800 328 1140
Australia:
1 800 145 231
New Zealand:
0800 447 301
or e-mail us at:
onsite@skillpath.net
1-800-873-7545
United Kingdom:
0800 328 1140
Australia:
1 800 145 231
New Zealand:
0800 447 301
or e-mail us at:
onsite@skillpath.net
