June 20, 2022


4 Total CPE Credits


Internal Control-Understanding and Testing

Learning Objectives

  • Recognize areas where controls exist and the circumstances when controls can be tested
  • Determine when and how private companies maintain a system of internal control when formal processes do not exist
  • Identify strengths and weaknesses in a private company's control environment by performing risk assessment procedures and transaction walk-throughs

Major Topics

  • Review of the audit requirements stated in the auditing standards regarding internal control activities
  • Analysis of the control environment, concentrating on privately-owned businesses
  • A detailed discussion of an effective system of internal control and related control activities as detailed in the updated COSO report
  • Sample risk assessment procedures to determine control risk for all major assertions
  • Discussion of how to reduce control risk to below maximum
  • Specific tests of controls that can be beneficial to a financial audit
  • Discussion of the requirements to test controls for Governmental audits

CPE Credits Available

Total CPE
Accounting & Auditing

Things to Know About This Course



Advanced Preparation


Intended Audience

CPAs, Auditors


California Society of CPAs

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