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:

  • Recognize the Committee of Sponsoring Organizations of the Treadway Commission (COSO) internal control framework and the inherent limitations of internal control.
  • Identify the characteristics of the following components of the COSO internal control framework:
    • Control environment
    • Risk assessment
    • Information and communication
    • Monitoring
    • Existing control activities
  • Recognize the various roles & responsibilities of internal and external parties as it relates to internal controls.
  • Identify internal control best practices.
timothy gearty

Instructor bio

Tim Gearty is the National Director and Editor-in-Chief for the world’s largest CPA training program, Becker CPA Review. In addition to his editorial leadership, Tim is also Becker's National Lead Instructor, whose taped lectures are seen in over 325 locations throughout the world. Tim is a nationally recognized expert and speaker on a variety of accounting and tax topics, and has appeared as keynote speaker for several Fortune 100 companies as well as many national associations. He has frequently been called upon over the past twenty years to present accounting and tax topics to large groups, organizations, and corporations, accounting firms and in legal proceedings. Tim is a partner in Gearty & McIntyre, LLP, CPA, a firm which has developed a reputation as a specialist in business advisory services, litigation support and forensic accounting. He is a member of the American Institute of Certified Public Accountants and the New Jersey Society of Public Accountants as well as a trustee of that organization. He holds a BS in Accounting from Fairleigh Dickinson University, and both a MBA in Finance and Law Degree (JD) from Seton Hall University. Tim is a member of the New Jersey and American Bar Associations.

National Registry of CPE Sponsors

A Becker Professional Education is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

Becker Professional Education Sponsor I.D. Numbers NASBA: 107294, New York: 002087, New Jersey: 20CE00226700, Texas: 009580, Ohio: CPE.186, Illinois 158.002405, Pennsylvania: PX177823

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