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Understanding the COSO Framework for Internal Controls (ME22-16/22)

Member Price $150
Non-Member Price $165
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May 18, 2022 @ 8:45 am - 12:15 pm

Event Description

Internal controls over financial reporting are used to prevent, detect, and correct misstatement. They also help to reduce the chance that fraud will occur. The auditor is required to obtain an understanding of an entity’s controls as part of the risk assessment process. This workshop will provide participants with an opportunity to explore the design of controls over the significant systems typically found in a small and medium-sized client through the use and understanding of the COSO framework.(LIVE VIDEOCONFERENCE)

Designed For

Audit practitioners who are working on audits of non-public companies, as well as accountants in industry who want to improve their entity’s internal controls.

Objectives

Participants will be able to:• Describe the evolution of internal controls and its impact on the profession• Recognize the professional requirements and guidance related to internal control considerations in an audit, including their relationship to risk assessment• Develop a basic understanding on how to test and audit internal controls• Identify and assess the principles of the COSO Framework related to entity-level controls that applies to the control environment, risk assessment, information and communication, and monitoring• Apply and document understanding of control activities elements of the COSO Framework

Major Subjects

• Background on internal controls• COSO Framework• Understanding the design of controls at the entity level and at the activity level• Control activities 

Prerequisites

Basic audit course or experience

Instructions

None.

Details

Date:
May 18, 2022
Time:
8:45 am - 12:15 pm
Credit:
4 Credits

Other

Credit Hours
4
Max Registrations
40
Course Type
Live Video Conference
Course Level
3