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Evaluating Internal Controls - November 18, 2013

Group-live course
Prerequisites: None

Course level: Basic
CPE credits: 8
Time: 1 day, 9:00 am - 5:00 pm


Registration form
Register online
 

Who Will Benefit

Managers, internal auditors, and others with an interest in the proper design, maintenance, and evaluation of a comprehensive internal control framework in the public sector.


Program

Participants will examine each of the essential elements of a comprehensive framework of internal control.  The understanding gained from this review will then be applied to the study and evaluation of control-related policies and procedures from a specifically state and local government perspective.  The public manager’s role in fraud prevention and detection also will be covered.


Advance Preparation

None


Seminar Objectives

Those who successfully complete this seminar should be able to:

  • Define “internal control” and explain how it relates to basic managerial objectives
  • Identify the respective responsibilities of management, the governing body, external auditors, and internal auditors in regard to internal control
  • Describe the inherent limitations of internal control
  • Identify the five essential elements of a comprehensive framework of internal control
  • Describe the key characteristics of a sound control environment
  • Identify the key factors for identifying and assessing risk
  • Identify the major categories of control-related policies and procedures and how they relate to identified risks
  • Describe the special role of information and communication in a comprehensive framework of internal control
  • Identify the two essential components of monitoring
  • Identify the essential elements of an evaluation of internal control
  • Describe the relationship between internal control and fraud
  • Describe how fraud can be identified and how identified fraud should be managed

 

Recommended Reading
An Elected Official’s Guide to Internal Controls and Fraud Prevention


Registration Fees
GFOA member:  $370     Nonmember:  $550