Understanding Internal Control Constructs - Connecticut Society of CPAs

Overview

Organizations of all sizes often fail to successfully install needed foundational components of an internal control system. Whether large or small, entities must view policies, procedures, and all controls in a wholistic manner in order 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. It provides an understanding of the interrelated nature of all controls created by any organization. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Objectives

After attending this presentation, you will be able to...

Distinguish key internal control concepts, including the four types of internal control: preventive, detective, deterrent and compensating
Determine how each control becomes a piece of an overall internal control structure
Identify both organization-wide measures as well as more segmented controls and how these must co-exist

Highlights

The major topics covered in this course include:

Underlying concepts of internal control
The importance of control measure interdependency

Designed For

Accounting and other business professionals that would benefit with greater understanding of internal control.

Prerequisites

A basic understanding of Internal Control concepts

Preparation

None

Notice

You will receive an email from CPA Crossings via Webex with instructions to access the webinar.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Karl Egnatoff, Taymes LLC

Leader Bios

Karl Egnatoff, Taymes LLC

Karl W. Egnatoff, CPA, CITP Member, Phoenix Beach, LLC Myrtle Beach, South Carolina Phone (304) 633-1577 karl@phoenixbeach.com Karl Egnatoff is a Certified Public Accountant (CPA) currently living in Myrtle Beach, South Carolina. During the past 21 years Mr. Egnatoff has worked as a consultant, trainer and as a software engineer while engaged on projects for business organization of all types. Prior to this, Karl worked in public accounting as well as in private sector accounting for a period of approximately six years. Before partnering with Pat Garverick to form Phoenix Beach, Karl presented and created material in association with K2 Enterprises for approximately seven years. In addition to being a CPA, he is also a Certified Information Technology Professional (CITP). During the course of his career, Mr. Egnatoff has owned and operated a number of successful businesses. All of these provided services to other organizations in the business community. The experience he garnered while serving these organizations helps him now as he writes and presents continuing professional education through Phoenix Beach. Mr. Egnatoff is a member of the West Virginia Society of Certified Public Accountants, the American Institute of Certified Public Accountants, and the Information Technology Section of the American Institute of Certified Public Accountants. He has also achieved a number of technology certifications including Microsoft Certified Professional (MCP), Certified Software Engineer (CSE) and Certified Integration Developer (CID). Karl graduated from Marshall University with a Bachelor of Business Administration degree. During his time in college, he participated in division I Cross County competing on the varsity squad. He was also on Marshall’s Track team. Karl and his wife Lana have been married for twenty-five years. They have two grown sons, Jordan and Steven.

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