How to Assess Internal Controls and Safeguard Assets 

Learning Objectives:
Through an exploration of best practices and an in-depth analysis of related issues, participants will define internal control, study its relationship to managerial objectives, understand its limitations and grasp the key characteristics of a sound control environment. At the conclusion of this session you should be able to:

• Describe the Committee of Sponsoring Organizations of the Treadway Commission (COSO) internal control framework and inherent limitations
• Compare, contrast and apply the following within the COSO internal control framework:

• Control environment
• Risk assessment
• Information and communication
• Monitoring
• Existing control activities

• Identify the expectations and limitations within the control framework
• Describe the various roles & responsibilities of internal and external parties as it relates to internal controls
• Review of Internal control best practices

Delivery Method:
Self-Study

Program Level:
Basic