Accounting and Financial Reporting

Evaluating Internal Controls

In-Person Training

September 17, 2024

GFOA Training Center
203 N LaSalle St, Suite 2700
Chicago, Illinois

  • Field of Study: Accounting (Governmental)
  • Credits: 8.00
  • Prerequisite: None
  • Status: This event has availability.
Details:

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. This course combines lecture, discussion, and exercises.

Who Will Benefit: CFO/Finance Director, Controller, Accountant, Treasurer, Auditor, Purchasing Manager

Learning 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 seventeen 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.

  • Member Price: $400.50
  • Non-member Price: $598.50
Register