Audit 106: Internal Control Fundamentals - Evaluating Design
Online
2.00 Credits
Member Price $89.00
Non-Member Price $124.00
Overview
Internal Control Fundamentals - Satisfying Audit Requirements for Evaluating Design and Implementation is a critical foundational course. Obtaining an understanding of the entity and its environment is part of assessing risk of material misstatement, in order to design the nature, timing and extent of further audit procedures necessary to obtain sufficient appropriate audit evidence to support the auditor’s report. A critical component of understanding the entity and its environment is to evaluate the design and implementation of internal control over financial reporting. Note: This course is recommended as a part of a 16-hour audit skills curriculum for beginning auditors, while it is also appropriate for anyone who has responsibilities for evaluating the design and implementation of internal controls over financial reporting. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Objectives
Upon completion of this course, you will be able to...
- Recognize how to properly obtain an understanding of the entity and its environment, including internal control in order to properly assess risk of material misstatement
- Identify the COSO Internal Control - Integrated Framework
- Recall important considerations in documenting a systems description narrative
- Recognize how to evaluate internal control design and implementation for deficiencies and how to apply insights to the process of assessing risk of material misstatement
Highlights
The major topics covered in this course include:
- Responsibilities for gaining an understanding of the entity and its environment
- The inter-relationship of the five foundational components of the COSO Internal Control - Integrated Framework
- Various methods for documenting and evaluating the design and implementation of internal control over financial reporting
- Identifying critical elements of entity-level and transactional-level controls
- Case studies related to identifying deficiencies in internal control documentation
Designed For
Professionals responsible for evaluating the design and implementation of internal control
Prerequisites
None
Preparation
None
Notice
You will receive an email from CPA Crossings via Webex with instructions to access the webinar.
Leader(s):
Leader Bios
Jennifer Louis, Surgent McCoy CPE, LLC
Jennifer F. Louis, CPA has over 19 years of experience in designing and presenting high-quality training programs in a wide variety of technical and “soft skills” topics needed for professional and organizational success. In 2003, she founded Emergent Solutions Group, LLC, a company dedicated to developing and delivering accounting and auditing training services. She was most recently executive vice president/director of training services at AuditWatch, Inc., a highly respected training and consulting firm serving the audit profession. During her six years at AuditWatch, Ms. Louis served in many other capacities, including vice president of product development, and a consultant for the firm’s Audit Productivity Improvement Program TM. She also coauthored a manual on value-added auditing. Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm’s Washington, D.C. office, she served as an instructor for the firm’s national “Train the Trainers” program. Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting.
Non-Member Price $124.00
Member Price $89.00