This course in part of our series on the Controllership Role. Internal control is relevant to everyone in the workplace. It represents our moral responsibility to understand and comply with organization policies and procedures. It also provides the means to hold individuals accountable for their work. The controller is an impactful position that affects a company's processes including financial, compliance and operational. Controller functions vary across companies often following the size and complexity of the business and the industry. Smaller companies require more versatility for the controller Larger companies are more able to segregate job responsibilities across other employees. The controller should be knowledgeable of the various controls to create a control system that will appropriately safeguard company assets and processes. Internal controls are typically comprised of control activities such as authorization, documentation, reconciliation, security and segregation of duties.
Learning Objectives
- Examine the controller’s responsibility for internal controls
- Evaluate the integrity of internal controls
- Evaluate internal control types
- Understand control objectives
- Review roles in internal controls
- Examine methods to invest in internal controls
- Examine how to organize internal controls
Major Topics
- Accounting
- Finance
- Internal Controls
