Evaluating Internal Controls
Field of Study
Governmental accounting and financial reporting
Accounting and Financial Reporting
Offered Both as Group-Live Class and E-Learning Opportunity
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.
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
- Describe how fraud can be identified and how identified fraud should be managed
Who Will Benefit
Schedule and Sample Agenda
Format / Location
Note: Due to the COVID-19 pandemic, GFOA has cancelled all Group-Live training events through September 2021.
This course is taught by finance officers and other industry experts.