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Internal Control and COSO Essentials for Financial Managers, Accountants and Auditors (ICDAD15)
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This course gives you a solid understanding of systems and control documentation. After an overview of the latest COSO guidance on the components and principles of effective internal control, this course introduces you to basic tools used to document an accounting process. Participants then identify the risks of errors and fraud in the accounting system and the presence (or absence) of compensating controls. Finally, participants will practice identifying key controls and control weaknesses.

9/16/2015
When: 09/16/2015
8:30 AM until 4:30 PM
Where: LCPA Training Facility
2400 Veterans Memorial Blvd
Suite 500
Kenner, Louisiana 
United States
Presenter: Glenn Helms


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Early Bird Fees (through 8/31)
Members $279
Non-Members $379
After 8/31, add $50 to your fee.

CPE: 8 hours
Level: Basic
Vendor: AICPA
Category: Accounting & Auditing
Prerequisites: None
Advanced prep: None

Who should attend: Auditors, managers, supervisors, accountants and others with duties critical to the system of internal control in business, government or nonprofits

Many managers, supervisors, and accountants in business, government or nonprofits are not able to identify their departmental policies and procedures that function as the primary controls against errors and fraud. Alternately, auditors performing field work may be confused about how to interpret and evaluate management’s documentation of accounting processes and controls. Neither party may truly understand how their duties differ.

This course gives participants a solid understanding of systems and control documentation. After an overview of the latest COSO guidance on the components and principles of effective internal control, this course introduces participants to basic tools used to document an accounting process. Participants then identify the risks of errors and fraud in the accounting system and the presence (or absence) of compensating controls. Finally, participants will practice identifying key controls and control weaknesses.

Objectives

• Identify ways to obtain cost efficiencies and effectiveness in internal controls in various types of smaller entities.
• Describe factors that an auditor should consider when obtaining an understanding of the entity and its environment.
• Identify keys to success in designing a control environment with strong internal controls.
• Explain the steps required as part of management’s documentation of control activities.
• Describe tools that can assist in the documentation of internal controls.

Major Topics

• Fundamental components and principles of internal control
• Integrated framework and small business tools’ reports
• Management responsibilities vs. auditor responsibilities
• Common significant accounting processes
• Fraud risks for major classes of transactions
• Tools and techniques used for internal control documentation
• Estimating the cost and benefit of remedying a control weakness
• The seventeen principles contained within the COSO Integrated Framework underlying each component of internal control

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Society of Louisiana
Certified Public Accountants

2400 Veterans Memorial Blvd., Suite 500
Kenner, LA 70062-4739

504.464.1040
800.288.5272 Map/Directions


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