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Internal Controls Best Practices for Small and Medium-Sized Entities | ICSM03 18
REGISTER

  • DATE & TIME

  • LOCATION

  • CE CREDIT(S)

  • COST

    MEMBER, NON-MEMBER

  • INSTRUCTOR(S)

January 19, 2018 8:30am - 4:45pm

Soloman P. Ortiz International Center

8.00

Member: $250 Non Member: $350 Aicpa Member: $220 Aicpa Non Member: $320

Mr. Glenn Helms

overview

This course provides practical guidance for those involved with internal control responsibilities (auditing, monitoring, implementing, etc.) in adapting the updated COSO Internal Control Framework to small- and medium-sized entities. Internal control concepts are applicable to every entity, regardless of size. However, there is no “one size fits all” set of rules that can be applied to all entities. Often times the internal control “best practices” that have evolved over time are based upon large entity environments and these “best practices” are not necessarily relevant to small- and medium-sized entities. This course will show you some best practices for designing, implementing, monitoring, evaluating, and auditing cost-effective internal controls for small and medium-sized entities.
 
who should attend

Accountants, auditors, managers, and others who are responsible for implementing, monitoring, evaluating, auditing and designing cost-effective internal controls for small and medium-sized entities.
 
details

 
Objectives:
Identify a variety of specific internal controls that can be implemented in a cost-effective manner for each component of the updated COSO Integrated Framework in both small and medium-sized entities and larger entities with decentralized operations. Recall why a “one-size fits all best practices” approach might not be appropriate for many entities. Recognize the risks associated with the failure to implement internal controls and recall inexpensive compensating controls that could decrease these risks. Identify different IT and manual controls that should be present in a variety of small and medium-sized entities. Recall mitigating controls when primary controls are not available.
 
Major Topics:
• The components of the updated COSO Internal Control Framework and related principles
• Adapting the updated COSO internal control framework principles for small and medium-sized entities
• Cost-effective controls that can be implemented in very small entities
• Cost-effective transaction processing systems controls
• IT and manual controls that can be implemented in a variety of processing environments.
 
e-material

A link to the materials will be emailed to you 48 hours prior to the event. Hard copies will not be provided.
 
advanced prep

None
 
course level

Basic
 
prerequisite

None