XCPD-562 Internal Controls: Proper Design and Detection
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The first and last line of defense against fraud, internal controls should be preventative and detective. This class provides an understanding of the role of internal controls in today's corporate environment and their importance to a forensic examination. Course topics include:
- COSO Framework
- Sarbanes Oxley Act
- Internal Control Theory
At the completion of the course, a successful student will be able to:
- Describe 5 common controls used by supermarkets, banks, and restaurants.
- Define internal controls and its 3 categories.
- Define basic internal control theory.
- Explain the role of internal controls as part of a forensic examination.
- Communicate a conceptual understanding of the COSO framework, including its 5 components.
- Explain the three major audit requirements from Sarbanes-Oxley Act.
- Apply a visual methodology to assess the strength of internal controls.
- List 6 financial attributes of integrity.
- Explain the Foreign Corrupt Practices Act.
- Perform an assessment of an internal control cycle.
XCPD-680 Cost Management and Internal Controls
In this course participants will be introduced to the concepts and policies foundational to developing and overseeing an organization's internal control process. Participants will discuss the role that management can take to successfully develop and maintain robust systems of internal controls. Course participants will gain a thorough understanding of the internal control theory, the COSO financial controls framework, and compliance regulations such as the Sarbanes-Oxley Act. Using case studies, students will evaluate a variety of internal control systems to identify and critique strengths and vulnerabilities, determine the cause of control weaknesses, and implement solutions.
Upon completion of this course, successful students will be able to:
- Describe the concepts and policies foundational to developing and overseeing an organization’s internal control process.
- Discuss basic concepts of internal control theory, the COSO financial controls framework, and compliance regulations such as the Sarbanes-Oxley Act.
- Critique an internal control system and provide recommendations for improvements.