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OnDemand Course

Understanding Complex Internal Control Issues

Designing and implementing an effective internal control system can be challenging.

Today's rapidly changing business models, new technologies and globalization require internal control systems to be agile. Management must be prepared to use judgment to monitor and assess the effectiveness of internal control systems and provide insight on the application of controls. This information will provide you with an understanding of what constitutes internal control and insight into whether internal control is being applied effectively. COSO's Internal Control--Integrated Framework assists management, boards of directors, external stakeholders and auditors interacting with the entity in each of their respective duties and roles with internal control.

Learning Objectives

  • You will be able to identify Internal Control best practices.
  • You will be able to recognize the COSO Model and why it is the foundation of any Internal Control program.
  • You will be able to identify roles and responsibilities for Internal Control.
  • You will be able to recognize how Internal Controls can detect and prevent fraud.

Runtime: 137 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Internal Control Systems - What Are They?

  • Why Have Internal Controls?
  • Objectives
  • Background
  • Components

Internal Control Concepts and Objectives

  • Control Activities Within an Internal Control System
  • Preventive, Detective and Corrective Controls
  • Cost-Benefit Analysis for Developing Controls

COSO Framework

  • COSO Cube - 5 Integrated Components
  • COSO Cube - 17 Principles

Practical Perspective

  • Implications to Your Current Processes
  • Identifying Key Controls
  • Summary of Key Points
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on August 20, 2018.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 3.5 including Specialized Knowledge 3.5
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 3.5 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 3.5 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Stephen B. Jordan, EA

Stephen B. Jordan, EA

Stephen B. Jordan, EA

  • Owner at Stephen B. Jordan, EA for more than 30 years
  • More than 35 years’ experience in accounting, auditing and tax services
  • Experience: Tax Defense Network – Referral Partner; Lorman Education Services; IRS Form 1099 Reporting: What You Need to Know; Tips for Understanding IRS Field Audits; Understanding Complex Internal Control Issues; Tax Treatment of Gift Cards & Sales Certificates; Past community outreach volunteer, NH Pro-Bono, Low Income Taxpayer Project; past community outreach volunteer, Bentley Low Income Taxpayer Clinic; past adjunct faculty of accounting and taxation at: Franklin Pierce College, 1988-1989; New Hampshire College, 1993; Hesser College, 1999; KPMG Peat Marwick – Sr Accountant, 1982 -1985; Wolf & Company CPA’s PC – Audit Supervisor/CISA, 1985 – 1986; General Cinema Corp – Sr Internal Auditor, 1986 – 1987; Comprehensive Accounting Corporation – Affiliate/Accountant 1987 – 1990; has written accounting and tax articles for EA Journal and National Public Accountant professional journals; speaker at self-help tax strategy seminars
  • Member of the NATP, NAEA, MaSEA and NNESEA
  • Currently lives in Windham, NH. Outside his practice, enjoys a variety of fitness activities, cooking, reading and the arts
  • M.S.T. degree, William Howard Taft University; College for Financial Planning; M.B.A. degree, Indiana University; B.S. degree, University of New Hampshire
  • Can be contacted at 603-508-0124 or [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • Live Webinars
  • OnDemand Webinars
  • MP3 Downloads
  • Course Manuals
  • Audio Recordings*
  • Executive Reports
  • White Papers and Articles
  • Sponsored Live Webinars

Additional benefits include:

  • State Specific Credit Tracker
  • Members Only Newsletter
  • All-Access Pass Course Concierge

* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 404714
Published 2018
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Available in Multiple Formats

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