Operational Auditing: Evaluating the Supply Chain
About this course: Course Description Designing and implementing an effective system of internal control can be challenging, and adapting to rapidly changing business models, new technologies, or globalization requires that system to be agile. An internal control system requires the use of judgment to monitor and assess its effectiveness, and…

About this course:

Course Description

Designing and implementing an effective system of internal control can be challenging, and adapting to rapidly changing business models, new technologies, or globalization requires that system to be agile. An internal control system requires the use of judgment to monitor and assess its effectiveness, and it must provide insight on the application of controls.

The new Certificate, through a blend of self-paced learning and live classroom training, offers you a unique opportunity to develop an expertise in designing, implementing, and conducting an internal control system. This 25.5-credit program takes you through the Framework from start to finish and, through the use of real-world scenarios, allows you to:

  • Understand the principles-based approach.
  • Identify and analyze risks.
  • Develop confidence in the internal control system.
  • Learn from experts and share your experiences with your peers.

Upon completion of the self-study course and the in-person training, you’ll be eligible to sit for the exam and earn your certificate.

Course Schedule

  • Day 1: 08:30 – 16:30
  • Day 2: 08:30 – 16:30
  • Day 3: 08:30 – 13:30

 

Additional Information

Note: Two pre-work self-study courses are required to be completed prior to the start of the in person training. Access to the pre-work is provided 7–10 business days before the start of the in person training.

The goal of the online learning component is to provide an introduction to key concepts of the Framework and to allow you to begin thinking about the Framework in the context of your own entity. It covers a variety of topics including types of objectives, components of internal control, principles and points of focus, roles and responsibilities, and limitations of internal control. Examples are provided throughout the learning to illustrate the concepts presented.

 

Course Topics:

Overview of the Frameworks

  • Identify key terms, definitions, and concepts of COSO’s Internal Control—Integrated Framework (Framework).
  • Recall the relationship among objectives, components, and the entity’s structure in achieving an effective system of internal control.
  • Recognize roles and responsibilities within an organization related to internal control.
  • Recall the limitations of internal control.

 

Planning the Quality Assessment

  • Quality assessment scope, objectives, and planning tools
  • Key features of planning guides
  • Case study – Successful practices, opportunities for improvement, and planning the work
  • Key features of surveys
  • Case study survey results

 

Control Environment

  • Recall key concepts included in the Framework related to the risk assessment component of internal control (including principles and points of focus).
  • Apply the concepts of the Framework with regard to risk assessment to a variety of organizational examples in achieving operations, reporting, and compliance objectives.

 

Control Activities

  • Recall key concepts included in the Framework related to the control activities component of internal control (including principles and points of focus).
  • Apply the concepts of the Framework with regard to control activities to a variety of organizational examples in achieving operations, reporting, and compliance objectives.

 

Information and Communication

  • Recall key concepts included in the Framework related to the information and communication component of internal control (including principles and points of focus).
  • Apply the concepts of the Framework with regard to information and communication to a variety of organizational examples in achieving operations, reporting, and compliance objectives.

 

External Quality Assessment Options

  • Recall key concepts included in the Framework related to the monitoring activities component of internal control (including principles and points of focus).
  • Apply the concepts of the Framework with regard to monitoring activities to a variety of organizational examples in achieving operations, reporting, and compliance objectives.

 

Course Duration: 2.5 days

CPE Credits: 25.5

Level: Intermediate

Field of Study: Auditing

Pre-requisites: None

Advance Preparation: Participants will complete an interactive self-study element as part of this course, which will be completed online prior to attending the facilitated session.

Delivery Format: On-site

Enquiry About this course

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CPEs: 1
Course Level: All
Duration: 1 Day/s
Language: English
Member Fees:1 USD
Nonmember Fees: 1 USD

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