Successful organizations, both large and small, must understand the importance of effective internal controls and be able to develop a system of controls that will keep the entity on its intended course. Moreover, those that 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. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation, you will be able to...
- Determine the steps needed to implement a developed system of internal controls
- Apply steps to build control measure schedules that function weekly, monthly, quarterly, and yearly, and that are designed to test and monitor the internal control structure of an organization
- Analyze developed control measures to make sure they are working properly
- Determine why there is a need to update existing controls to keep them viable as business operations change
- Identify methods that can be used to communicate policy and procedure changes to those that are affected by these changes
Major Topics
The major topics covered in this course include:
- An overview of controls that drive procedures
- Considerations for procedural control development
- Understanding and controlling risk that arises when organizations change
