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Training for Business Professionals
Using Internal Control to Strengthen Security, Efficiency, and Employee Conduct
Who Should Attend?
Accounting and other business professionals that wish to know more about controls that drive all entity objectives.
Area of Study:
A basic understanding of Internal Control Concepts
Many leaders in business organizations of all sizes view the system of Internal Control primarily as a protective security measure. This is a great first step, however a well designed internal controls system can and will drive all entity objectives. This session uses information gathered from years of creating internal control systems as well as concepts from well respected authoritative pronouncements and frameworks to illustrate the power of a strong and well supported control system as well as actions that can help establish such a system. This material is becoming more and more beneficial as companies strive to address many new business challenges such as evolving markets, the rapid rate of change in the business world and the notable increase in governmental and industry-based regulation. Those that work with internal controls and regularly consider ways to improve the functionality of internal control systems should strongly consider this session.
Once participants have completed this session they should be able to:
- List important components and sub-components of an Internal Control System.
- Understand how risk affects such things as strategy and business direction.
- Define important concepts such as “Risk Appetite”, “Framing Risk”, and“Risk Tolerance”.
- Explain how the control environment can help or hinder the operation o fcontrol measures in use at an entity.
- List important steps that an organization can undertake, specifically related to control development that can drive the
direction of the entity.
This session is taught via the use of real world examples and case studies.
- An overview of Control Frameworks and concepts
- Strategy considerations that can be incorporated into control development
- Understanding and controlling risk that arises when organizations change or choose not to