This training program will help find the dots relating to AP internal controls and connect them. The course will include: processes of formulation and implementation; how to develop steps for internal controls; how to develop tools for internal controls; how to benefit from these tools and more.
All areas are subject to audit and need an internal control system in place to help minimize audit criticisms. Management must understand the importance of controls, the risks in circumventing the controls and the ramification. Internal controls are systems, policies, procedures and practices that are used to detect or prevent errors of commission and omission. Internal controls should safeguard an entity's assets, which include accurate financial records. Internal controls also promote operational efficiency and encourage adherence to prescribed managerial policies and procedures as well as laws, rules and regulations. Effective internal control is a cornerstone of successful management.
This webinar will enhance attendees’ knowledge of their role by helping them understand the elements of internal controls. Internal controls are a key part of any organization's continued growth, performance and success. With fraud at an all-time high, a well-designed internal control structure will enhance operations by improving your department's overall security, effective and effectiveness. As all business managers, officers, owners and employees know without an effective internal control system, the organization may be open to fraudulent transactions, theft, hefty fines, penalties, fines stricter government laws and rules.
Why Should You Attend:
Internal controls are normally thought of as something of concern only to the accounting and auditors. However, any area that authorizes use of resources, control of assets, provides information should be concerned with internal controls also known as management controls.All areas are subject to audit and need an internal control system in place to help minimize audit criticisms. Management must understand the importance of controls, the risks in circumventing the controls and the ramification. Internal controls are systems, policies, procedures and practices that are used to detect or prevent errors of commission and omission. Internal controls should safeguard an entity's assets, which include accurate financial records. Internal controls also promote operational efficiency and encourage adherence to prescribed managerial policies and procedures as well as laws, rules and regulations. Effective internal control is a cornerstone of successful management.
This webinar will enhance attendees’ knowledge of their role by helping them understand the elements of internal controls. Internal controls are a key part of any organization's continued growth, performance and success. With fraud at an all-time high, a well-designed internal control structure will enhance operations by improving your department's overall security, effective and effectiveness. As all business managers, officers, owners and employees know without an effective internal control system, the organization may be open to fraudulent transactions, theft, hefty fines, penalties, fines stricter government laws and rules.
Learning Objectives:
- Learn how to present ideas in financial terms for greater impact
- Gain confidences with establishing controls
- Understand fundamentals of internal controls
- How to increase your competitive position by understanding the processes
- How to analyze an internal control
- Learn best practices
Areas Covered in the Webinar:
- Necessity of planning
- How to evaluate your systems’ strengths and weaknesses
- Characteristics of a successful internal control system
- How to limit risks and ERM process
- How to outline an internal control plan
- Processes, objectives, components and requirement for effective controls
- Put into practice the 17 principles of internal control
- Learn the 5 elements of internal controls to help prevent fraud
- Learn SAS requirements for internal controls
- COSO, COBIT and SAC outlines and check list reviewed
- Help all employees, individual, supervisor, managers and executives assess controls
Who Will Benefit:
- Business Owners
- Compliance Managers
- Controllers
- Presidents/Vice Presidents
- Managers/Supervisors
- Accountants
- Financial Managers
- Managers Required to Co-Certify
- Financial Controllers
- Company Executives
Course Provider
David Sanders,
