Documentation Methods for Internal Control Processes
Total Credits: 2 including 2 Auditing- Technical
- Average Rating:
- 36
- Categories:
- Partner Produced | Accounting and Auditing
- Faculty:
- Lynn Fountain, CGMA, CRMA, MBA
- Course Levels:
- Intermediate
- Duration:
- 2 Hours
- License:
Description
Internal controls (IC) are critical to the effective functioning of all processes. The importance of proper and relevant documentation can be viewed as a burden. Strong, relevant documentation is critical to ensure organizations can adequately monitor, manage, and adjust their processes in line with business objectives. This requirement extends far beyond internal controls over financial reporting. Management must first establish appropriate responsibilities for IC. Personnel must have a strong understanding of the types and methods of IC and how they relate to their jobs. Controls should be well documented.
Documentation methods must meet organizational needs and be sufficient for personnel to understand.
This course will further evaluate the responsibilities of employees, management, and auditors in understanding their role in internal control as well as evaluating documentation methods.
Basic Course Information
Learning Objectives- Explore the responsibilities for internal control (IC).
- Explore what to document.
- Identify documentation types.
- Explore how to establish a defined documentation process.
- Explore steps to sufficient documentation.
- Discover relevant methods of flowcharting.
Major Subjects
- Introduction to Proper Documentation
- Responsibilities for Internal Control
- Exploring What to Document
- Documentation Types, Flowcharts, & Narratives
- Policy and Procedures and IC Questions
- Risk Control Matrices
- Establishing A Defined Documentation Process
- Flow Chart Symbols
- Other Documentation Maturity Model & Issue Tracker
- Other Documentation Testing Processes
- Other Documentation Internal Audit Formal Reports & Summary
- Proper Documentation
Course Materials
| Important CPA Credit Instructions READ BEFORE WEBCAST UPDATED (487.5 KB) | Available after Purchase | ||
| Proper Documentation Methods for Internal Control Handout (2 MB) | Available after Purchase | ||
Faculty
Lynn Fountain, CGMA, CRMA, MBA Related Seminars and Products
Lynn Fountain has over 37 years of experience spanning public accounting, corporate accounting and consulting. 22 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance.
Ms. Fountain has held two Chief Audit Executive positions for international companies. In 2011, as the Chief Audit Executive for an international construction/ engineering firm, she was involved in the active investigation of a joint venture fraud. The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. Ms. Fountain is currently engaged in her own training and consulting business and is a regular trainer for the AICPA.
Ms. Fountain is the author of three separate technical books. “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation. “Leading The Internal Audit Function” and “Ethics and The Internal Auditor Political Dilemma” were published by Taylor & Francis In addition,
Ms. Fountain has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).
Additional Info
Basic Course Information
PrerequisitesNone
Advanced Preparation
None
Designed For The course is useful to all individuals within a company who have responsibility for writing policies and procedures, documenting and evaluating processes and internal controls and testing processes.
Original Recording Date 12/2023
Yellow Book
No
Course Developer
MICPA
Date Added to Catalog
11/2023
Additional Information
Complaint Resolution PolicyPlease contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement
Business Professionals' Network, Inc. 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
Instructional Delivery Method
Group Internet Based
Course Registration Requirements
Online Registration
Refund/Cancellation Policy
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Promo Video
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