- NY Credits : 6.0
- TX Credits : 6.0
Matrix analysis ... flow charts ... audit risk ... materiality-this comprehensive internal controls course provides a detailed examination of all aspects of the topic as it pertains to the evaluation of internal controls by auditors and managers. Among the topics you will cover are COSO's internal controls definition; the BSA system; scoping audits; the Woods, Mair, and Davis Method; and the Criticality Index Method. This course contains a section that illustrates a methodology to meet the requirements of the Sarbanes-Oxley Act for the corporation to evaluate and document internal controls. This documentation takes different forms to cover controls at the entity-level, company-wide, and then process-related. Such documentation is far-ranging, including human resources policies and procedures, organization structure, and the assignment of authority and responsibility. This advanced course focuses on development and expansion of in-depth knowledge, skill, and application of internal control evaluation. It is most appropriate for the professional with mastery of this topic, the professional seeking to expand a knowledge base, or professionals with specialized knowledge in this area.
Upon successful completion of this course, the user should be able to:
determine the uses of the internal control questionnaires,
identify the advantages and disadvantages of flowcharting,
recognize the purpose of matrix analysis,
identify the walkthrough procedure,
determine inherent, control, and detection risks,
identify priorities among controls by using the criticality index method,
determine issues involved in documentation of internal controls, and
identify proper spreadsheets techniques and methods that affect decision making.