National Seminars Group
National Seminars Group presents

Implementing Effective Internal Controls On-Site Training

This on-site training class is also available as Public Schedule Seminar.

This powerful one-day program breaks down the process of creating and implementing internal controls into an easy-to-follow, easy-to-apply system that any organization can use.

Course Description/Agenda

Program Description

If you’re like most business leaders, you strive to protect, control, and maintain your financial structure while increasing your levels of accountability. The cost of developing, enhancing, and maintaining effective internal controls can be an overwhelming responsibility. That’s why we’ve developed this all-new comprehensive workshop – Implementing Effective Internal Controls to help you learn to do it better and faster!

This powerful one-day program breaks down the process of creating and implementing internal controls into an easy-to-follow, easy-to-apply system that any organization can use. You’ll learn how to create a rock-solid internal control structure, quickly assess and measure risks, and easily manage and monitor control activities.

What You'll Learn

The factors behind each component of internal controls The 3 objectives internal controls must satisfy to be useful Whether manual- or technology-based monitoring works best for your organization The 5 accounting cycles that are most commonly audited How to measure risk likelihood and its potential impact The 6 steps necessary to comply with Sarbanes-Oxley 404 requirements

Who Should Attend?

Whether you’re a financial manager or CEO, the information you’ll learn in the program will make all the difference in the strength and success of your organization. This training program was created specifically for:

  • Controllers
  • Accounting managers
  • Auditors
  • Compliance officers
  • CEOs
  • CFOs
  • Business owners
  • Managers and supervisors
  • Directors
  • Financial managers
  • Attorneys

Workshop Agenda

Defining Internal Controls

  • How AICPA, COSO, and SOX define internal controls
  • Understanding the objectives of sound internal controls
  • Establishing which control framework is right for your organization
  • Meeting the 3 objectives that internal controls must satisfy

Creating the Internal Control Structure

  • Understanding the 5 components of internal controls
  • The factors behind each component of internal controls
  • Hard controls vs. soft controls
  • Creating the control environment
  • Monitoring the control framework

Risk Assessment and Considerations

  • Establishing strategic objectives
  • Defining risk Inherent risk vs. residual risk
  • Identifying and evaluating risks from internal and external sources
  • Identifying high-risk areas
  • Measuring risk impact and likelihood
  • Risk-management strategies: from ERM to CSA

Managing Control Activities to Minimize Risks

  • Reviewing operational auditing
  • Prevention vs. detection control types
  • Using ORCA to evaluate management controls
  • Understanding the 5 assessments in ORCA
  • How to create an operational audit program
  • The 13 steps to creating an individual audit program

Establishing Internal Accounting Controls

  • Five internal accounting control categories
  • An overview of accounting cycles
  • The 5 cycles most commonly audited and what you must know about each
  • Where your cycles are most at risk for fraud
  • Strategies for preventing fraud in your cycles
  • Financial audits

Understanding and Complying With Sarbanes-Oxley

  • Eleven requirements of SOX
  • SOX 404 requirements
  • Understanding the PCAOB auditing standards
  • Sox 302 requirements
  • Understanding management assessment and reporting of internal controls

Monitoring and Reporting on Internal Controls

  • Creating and implementing a testing system
  • Manual vs. technology-based monitoring
  • Elements of effective internal controls reports
  • How to create reports that everyone in your organization can understand and use


More Seminar Information

National Seminars Group
National Seminars Group

Delivery Method

On-Site Training On-Site Training

Also Available As

Seminar Seminar

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On-Site Training
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