PPT-May 2013 Internal Control–Integrated Framework

Table of Contents COSO amp Project Overview Internal ControlIntegrated Framework Illustrative Documents Illustrative Tools for Assessing Effectiveness of a System of Internal Control Internal Control over External Financial Reporting A Compendium of Approaches and examples. Internal Control–Integrated Framework. Table of Contents . COSO & Project Overview. Internal Control-Integrated Framework. Illustrative. . Documents. Illustrative Tools for Assessing Effectiveness of a System of Internal Control. CA ANAND PRAKASH JANGID. Agenda. Check in. Financial Reporting & Regulation. Understanding Internal Control. IS Controls & Internal controls. Summary. 3. What is common among them????. Financial Reporting & Regulation. Chapter 7. 7-1. Learning Objectives. Explain basic control concepts and why computer control and security are important.. Compare and contrast the COBIT, COSO, and ERM control frameworks.. Describe the major elements in the internal environment of a company.. 7. Learning Objectives. Discuss fraud and the principles . of internal . control.. Apply internal control . principles to . cash.. Identify the control features of . a bank . account.. 3. Explain the reporting of cash.. Chapter 5. Learning Objectives. After studying this chapter, you should be able to:. Describe the Sarbanes-Oxley Act and its impact on internal controls and financial reporting. Describe and illustrate the objectives and elements of internal control. Table of Contents . COSO & Project Overview. Internal Control-Integrated Framework. Illustrative. . Documents. Illustrative Tools for Assessing Effectiveness of a System of Internal Control. Internal Control over External Financial Reporting: A Compendium of Approaches and examples. Basics . of Internal Controls – what are they. ?. COSO framework . Practical applications to your current . processes. Facilitator: . Laura Williams. Updated February 2014. 2. Internal Control Basics. Page . 1. Going . Green. Session Objective. To discuss GAO’s revision to the . Standards for Internal Control in the Federal Government . (Green Book). Page . 2. What’s in Green Book for . the Federal Government?. UNDERSTANDING AND IMPLEMENTATION STEPS. Presentation on Internal Financial Control (IFC). UNDERSTANDING OF INTERNAL FINANCIAL CONTROL. “Internal Financial Controls . over financial reporting” . mean…. November 26, 2013. Agenda. Framework background. Reasons for change. Timeline. Changes to the framework and its components. Accompanying Guidance and Illustrative Tools. Stakeholder perspectives. Considerations for transition. December 2011. Internal Control-Integrated Framework. First published in 1992. Gained wide acceptance following financial control failures of early 2000’s. Most widely used framework in the US. Also widely used around the world. Internal Control Officer: . Jonathan St. Clair. Internal Control Coordinator: . Weisu Fudge. December 2020. http://www.albany.edu/internalcontrol. 1. Why Internal Controls?. It Is The LAW!. The NYS Governmental Accountability, Audit and Internal Control Act of 1987 require all state agencies, including SUNY campuses to institute an Internal Control Program. kindly visit us at www.examsdump.com. Prepare your certification exams with real time Certification Questions & Answers verified by experienced professionals! We make your certification journey easier as we provide you learning materials to help you to pass your exams from the first try. Professionally researched by Certified Trainers,our preparation materials contribute to industryshighest-99.6% pass rate among our customers. Chapter 10. Learning Objective 1. Contrast management’s need for. internal control with the auditor’s. need to consider internal control. when designing an audit.. Inherent. Limitations. Reasonable.