Obtaining an Understanding of Internal Control

Description

Understand internal control

Understand internal control in risk assessment as required by GAAS.
Gain an overview of internal control and related key aspects so that you recognize auditor and management roles and responsibilities related to internal control and procedures involved in understanding an entity’s internal control in a risk assessment.

Learning Objectives

– Recognize the importance of understanding internal control.
– Recall factors and procedures that an auditor should consider when obtaining an understanding of the entity and its environment, including internal control.
– Recall definitions and key aspects of internal control from various organizations.

Major Topics

Various definitions and aspects of internal control, including separation of duties and safeguarding of assets
* key aspects of internal control from Various organizations, such as COSO, SEC, and PCAOB
* factors to consider, for example, industry, regulation, and nature of the entity
* risk assessment procedures, namely inquiry, analytical procedures, and observation and inspection, as well as brainstorming

Provider
AICPA
Course Level
Basic
Professional Area of Focus
Accounting and Auditing
Accounting & Auditing
CPE Field of Study
Auditing
1
Who Should Attend

Financial statement auditors, internal auditors and entity management involved in financial statement audits

Instructor(s)
Glenn Helms
Prerequisites

None

Advanced Preparation

None

Location
Online – AICPA Platform
Event Information
When
Apr 25, 2023
3:30 pm - 4:30 pm EDT
Location
Online – AICPA Platform
Total CPE Credits
1
Format
Webcast Replay

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Obtaining an Understanding of Internal Control


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