Implementing and Maintaining an Internal Control System | 4173384V

Date :
March 20, 2018 8:30 AM - 4:00 PM
Location :
Webcast
Facility :
Webcast Rebroadcast
Level of Difficulty :
Intermediate
Member Price :
275.00
Nonmember Price :
375.00
CPE Credits :
CPE 8.00
Show tabs
Many organizations are successful as they create a system of internal controls, however some fail to properly implement the measures that are established. Moreover, entities regularly neglect the important process of testing, monitoring and updating control procedures, which weakens the entire internal control structure. This session provides an overview of control creation methods and discusses ways to successfully implement policies and procedures. Additionally, it includes an array of control maintenance checklists that participants can take and adapt to their organization as they work to improve policies and procedures. Finally, it provides an understanding of the need for dynamic, fluid controls that adapt to changes in business tools and methods. Participants that take this course will have a strengthened ability to implement and maintain an internal control system.

Objectives:

Once participants have completed this session they should be able to:

Understand the steps needed to implement a developed system of internal controls
Build control measure schedules that function weekly, monthly, quarterly and yearly, and that are designed to test and monitor the internal control structure of an organization
Show knowledge related to testing control measures to make sure they are working properly
Understand the need to update existing controls to keep them viable as business operations change
List methods that can be used to communicate policy and procedure changes to those that are affected by these changes

Major Subjects:

Considerations for the maintenance of an internal control system
The types of policies and procedures organizations should utilize
Reviewing and testing control measures
Updating controls and implementing control changes

Advanced Prep:

None

Misc. Information:

Many organizations are successful as they create a system of internal controls, however some fail to properly implement the measures that are established. Moreover, entities regularly neglect the important process of testing, monitoring and updating control procedures, which weakens the entire internal control structure. This session provides an overview of control creation methods and discusses ways to successfully implement policies and procedures. Additionally, it includes an array of control maintenance checklists that participants can take and adapt to their organization as they work to improve policies and procedures. Finally, it provides an understanding of the need for dynamic, fluid controls that adapt to changes in business tools and methods. Participants that take this course will have a strengthened ability to implement and maintain an internal control system.
Level of Difficulty:
Intermediate
Field of Interest:
Accounting
Prerequisites:
A basic understanding of Internal Control concepts
Designed For:
Accounting and other business professionals that would like to have an understanding of internal control implementation and testing procedures

Instructors

Karl W. Egnatoff, CPA.CITP
Karl Egnatoff, a member with Phoenix Beach, LLC, is a Certified Public Accountant (CPA) living in Myrtle Beach, South Carolina. He has worked as an information technology services provider and a trainer related to financial and business technology projects since 1995. He has been teaching group-live and web-based continuing education since 2006. In addition to being a CPA, he is also a Certified Information Technology Professional (CITP). During his working career, Egnatoff has owned and operated a number of successful businesses, all of which provided consulting and training services. The experience he garnered while running his companies serves him now as he develops and teaches continuing professional education. Egnatoff graduated from Marshall University, where he participated in Division I cross country and track, competing on the varsity squad. He and his wife Lana have been married since 1990 and have two grown sons.
No Agenda or Materials posted.