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Course Overview
This course is designed to give you a solid understanding of systems and control documentation at the significant process level. After an overview of the latest COSO guidance on the components and principles of effective internal control, this course will introduce you to basic tools used to document an accounting process. You will then be able to identify the risks of errors and fraud in the accounting system and the presence (or absence) of compensating controls. Finally, you will practice identifying key controls and control weaknesses.

Course Objectives
At the end of the course delegates will be able to: the course delegates will be able to:
•Interpret basic documentation of a significant accounting process the course delegates will be able to:
•Identify the significant risks of fraud and errors the course delegates will be able to:
•Locate the presence or absence of compensating controls the course delegates will be able to:
•Identify key controls and control weaknesses the course delegates will be able to:
•Internal Control for Smaller Entities the course delegates will be able to:
•The Auditing Standards Board and Internal Control the course delegates will be able to:
•Internal Control Definitions and Concepts the course delegates will be able to:
•The Control Environment - An In-Depth Review the course delegates will be able to:
•Risk Assessment and Fraud - An In-Depth Review the course delegates will be able to:
•Control Activities - An In-Depth Review the course delegates will be able to:
•Information and Communication - An In-Depth Review the course delegates will be able to:
•Monitoring - An In-Depth Review the course delegates will be able to:
•Documentation - Guidance and Tools the course delegates will be able to:
•Illustrative Case the course delegates will be able to:
•Latest Developments the course delegates will be able to:
•Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement

Course Outline

•Internal Control
•Identifying, Measuring and Managing Risk;
•Risk Assessment;
•Building An Environment that Supports Business Controls;
•Assessing the Effectiveness of Controls in A Business;
•Control Reporting Metrics and Defect Management System;
•Corporate Governance Practices.