Internal Control (Full Day)

This course provides practical guidance on evaluating and improving internal control systems in any organization. It updates CPA members on internal control standards and frameworks, and explores key topics including fraud prevention, the Sarbanes Oxley legislation, COSO, Canadian auditing standards and assertions, and practice inspection findings on internal control evaluation in Canada. CPAs will gain practical knowledge and will be able to lead on internal control issues in their organizations. The main components of Internal Control will be outlined, including Operations, Financial Reporting, and Compliance. Internal Control evaluation will be explored, as well as control activities and processes that can be put into place.

TOPICS INCLUDE:

  • Components of Internal Control and Relationship with Governance
  • Warning Signs and the Absence of Internal Control
  • Using the COSO Framework and its Challenges
  • Internal Control Limitations
  • Canadian Auditing Standards
  • Canadian Audit Assertions related to internal control
  • Practice Inspection Findings – Deficiencies and Suggestions

WHO WILL BENEFIT:
This seminar is designed for CPAs in audit, management and in board positions. It will enable them to understand and deal with internal control issues to consider improvements in their organizations.