Evaluating Internal Controls

Training Type: 
Live Training
Course Status: 
Repeat Offering
Date and Time: 
Jan 10 2018 - 8:30am to 4:30pm  PST
Region: 
Pacific
Location: 

Newport Beach, CA (Hyatt Regency Newport Beach)

1107 Jamboree Road
Newport Beach, CA 92660
United States
Level: 
Basic
Field of Study: 
Auditing – Governmental
CPE Credits: 
8
Member Price: 
$370.00
Non-Member Price: 
$550.00
Prerequisite: 

None.

Speakers: 
Acting Director
GFOA
Commissioner of Finance and Budget Director
City of White Plains, New York
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 Description: 

Participants will examine, from a state and local government perspective, each of the essential components of a comprehensive framework of internal control, along with the accompanying principles and points of focus identified in the Council of Sponsoring Organizations (COSO) most recent version of Internal Control  Integrated Framework. The public-sector manager’s role in fraud prevention and detection also will be discussed.

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;
  • Identify the five essential components of a comprehensive framework of internal control;
  • Identify the 17 principles associated with those five essential components;
  • Identify the key points of focus related to each principle;
  • Describe the inherent limitations of internal control;
  • Describe the relationship between internal control and enterprise risk management;
  • Describe the relationship between internal control and fraud; and
  • Describe how fraud can be identified and how identified fraud should be managed.