Obtaining an Understanding of Internal Control

Course Details

Date

Thursday, April 25, 2024

12:00pm – 1:00pm (Registration: 4:02pm)

Location

Online

Field of Study

Accounting & Audit

CPE Credit

1 hour CPE credit

Level of Knowledge

Beginning

Vendor

AICPA

Prerequisites

None

Description

Understand internal control

Understand internal control in risk assessment as required by GAAS.
Gain an overview of internal control and related key aspects so that you recognize auditor and management roles and responsibilities related to internal control and procedures involved in understanding an entity's internal control in a risk assessment.

Highlights

  • Various definitions and aspects of internal control, including separation of duties and safeguarding of assets
    • Key aspects of internal control from various organizations, such as COSO, SEC, and PCAOB
    • Factors to consider, for example, industry, regulation, and nature of the entity
    • Risk assessment procedures, namely inquiry, analytical procedures, and observation and inspection, as well as brainstorming

    Objectives

    • Recognize the importance of understanding internal control.
    • Recall factors and procedures that an auditor should consider when obtaining an understanding of the entity and its environment, including internal control.
    • Recall definitions and key aspects of internal control from various organizations.

    Designed For

    Financial statement auditors, internal auditors and entity management involved in financial statement audits

  • Registration for this course has passed.

    Course Pricing

    WYOCPA Member Fee
    $71.00

    Non-Member Fee
    $82.00

    Your Price
    $82.00

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