The role of the CPA in public practice or industry is to assist the client or management to operate more efficiently and effectively. Failures due to lack of effective controls negatively impact the reputation and image of any organization. This seminar will provide the participant with the information necessary to help assist clients/management in reducing these risks. This seminar covers a variety of useful techniques that are easy and inexpensive to implement but that have a positive impact on the bottom line.
NOTE - This is a Video Self-Study Course
Upon successful completion of this course participant should be able to be complete the following objectives:
- Gain a good understanding of the nature of business risk, how these risks can negatively impact the organization and the basic definition of internal controls and problems this definition has created.
- Discuss Chaos Theory and materiality as a vehicle to distinguish the difference between these concepts in an audit from the development and evaluation of internal controls.
- Learn the role of ethics and integrity and how they affect the effectiveness of any internal control system.
- Examine the 2013 COSO model for evaluating and developing internal controls.
- Apply the concepts from these models in real-world cases.
CPE Credits: 8 CPE for CPAs
Instructional Method: Self-Study
NASBA Field of Study: Accounting
Program Prerequisites: None
Advanced Preparation: None
Revision Date: April 1, 2022