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Internal Control Best Practices for Small- and Medium-Sized Entities (ICSM14)
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There is no “one size fits all” set of rules that can be applied to all entities. Oftentimes 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 the best practices for designing, implementing, monitoring, evaluating, and auditing cost-effective internal controls for small and medium-sized entities.

11/24/2014
When: 11/24/2014
8:30 AM until 4:30 PM
Where: Hilton Lafayette
1521 W. Pinhook Road
Lafayette, Louisiana  70508
Presenter: Katrina Kiselinchev


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AICPA members receive an additional $30 off the registration fee for this course.

Discount made at the time of checkout. Qualifying members should have received a promo code via email – if you are unsure whether you qualify, or you lost/never received your code, please call the LCPA Member Service Center at 504.464.1040 or 800.288.5272.

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. Oftentimes 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 the best practices for designing, implementing, monitoring, evaluating, and auditing cost-effective internal controls for small and medium-sized entities.

 

Designed for: 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

 

Objectives:

When you complete this course you will be able to:

• 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.

• Design controls for very small entities.

• Explain why a "one-size fits all best practices” approach might not be appropriate for many entities.

• Evaluate the risks associated with the failure to implement internal controls and be cognizant of inexpensive compensating controls that could decrease these risks.

• Understand different IT and manual controls that should be present in a variety of small and medium-sized entities.

• Implement mitigating controls when primary controls are not available.

 

Highlights:

• 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

• A discussion of cost-effective controls that can be implemented in very small entities (mom and pop business, small school district or municipality)

• In-depth coverage of cost-effective transaction processing systems controls

• IT and manual controls that can be implemented in a variety of processing environments (in-house, cloud computing, network, etc.)

 

Speaker: Katrina Kiselinchev

Vendor: AICPA

Field of Study: Accounting & Auditing

Level: Basic

CPE Credits: 8

Registration Fees:

Members

CPA Non-Members

Early Bird (through 11/9)

$276

$376

Standard (after 11/9)

$326

$426



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Society of Louisiana
Certified Public Accountants

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Kenner, LA 70062-4739

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