Accredited Internal Control Professional
Program Overview
This online training will look at the Internal Controls environment and the roles of the respective stakeholders in monitoring, evaluating, and the implementation of internal controls best practices and the impact thereof on external auditors in audit planning, performance, and reporting.
This online training also seeks to provide you with the knowledge to understand the Internal Controls environment and the respective roles and responsibilities of stakeholders. By applying this knowledge you will develop the skill to perform an Internal Controls risk assessment and implement this in your external audit engagement planning and procedures.
Learning Objectives
By the end of this course, you will be able to:
- Implement controls in the accounting processes
- Assign functions and roles within the accounting department to maximize controls while optimizing performance
- Assist in designing corporate business cycles to achieve better controls
- Achieve segregation of duties and internal controls in the accounting department and related functions
- Increase reliability on processes and decrease the likelihood of fraud through the organization
- Comply with external reporting requirements by governmental and semi-governmental authorities
- Develop operational policies and procedures in accordance with internal control requirement
- Design and maintain financial controls
Program Outline
Module 1: Purpose of Internal Controls
- Compliance Requirements through Internal Controls
- Compliance Requirements for Oversight Boards
- Examples of Compliance Requirements
- Other Considerations: Fraud Prevention and Customer Satisfaction
Module 2: Implementing Controls in Business Cycles
- The Human Element Role in Controls
- Technology Role in Implementing Controls
- Approvals and Authorization in Business Cycles
- Preventing Fraud through Proper Controls
Module 3: Controlling Access to Financial Assets
- Controls on Financial Reporting
- Controls through Budgets
- Controls through Management Reporting
- Reflecting Financial Controls in Policies and Procedures
Module 4: External Reporting
- Financial Reporting Requirements
- Reporting to Labor Related Authorities
- Social Security Administration Reporting Requirements