Until recently, a percentage of organizations discounted the risk related to external fraud attempts. Most were only concerned with protecting physical assets such as inventory or fixed assets. However, because of the many highly publicized corporate hacking events, such as the ones that affected the Colonial Pipeline and JBS Meats, more attention is being paid to external fraud risk of all types. In this session, we look at what is included in a definition of external fraud and then delve into specific control issues that can give rise to increased risk. We then discuss measures that organizations can employ to help reduce exposure to external attacks. 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...
- Identify important components and sub-components of an Internal Control System
- Recognize how the control environment can help or hinder the operation of control measures and help or hinder operational effectiveness
- Recall important steps that an organization can undertake, specifically related to control development that can drive the methodologies of the entity
Major Topics
The major topics covered in this course include:
- Underlying concepts of internal control
- The importance of control measure interdependency
