WR081723: Understanding & Creating an Internal Control System
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 who 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 who take this course will gain a well-rounded understanding of internal-control procedures of all types.

Event Level: Intermediate
Required Knowledge: A basic understanding of internal control concepts
Advanced Preparation: None
Who Should Attend: Accounting and other business professionals who would like to have an understanding of internal controls for business entities
Vendor: Taymes, LLC
Speaker: Karl Egnatoff

Objectives
  • Once participants have completed this session, they should be able to * Understand key internal-control concepts, including the four types of internal control—preventive, detective, deterrent, and compensating * Explain how they would create strong internal controls * List reasons that control measures are required, such as to deter fraud or reduce operational inefficiencies * Explain the importance of the control environment as implementation efforts are ongoing * List three segments of an organization's technology infrastructure that must be controlled
Event Information
Date Presented:
January 16, 2024 8:30 AM Eastern
Length:
7 hours, 30 minutes
Member Price:
$260.00
Non-Member:
$360.00
Understanding and Creating an Internal Control Structure
Individual topic purchase: Selected
North Carolina Association of Certified Public Accountants
Accounting: 8.00