PPT-Internal Control and Control Risk

Chapter 10 Learning Objective 1 Contrast managements need for internal control with the auditors need to consider internal control when designing an audit Inherent Limitations Reasonable. Pre-Audit Presentation. Objectives of Presentation. Provide a basic understanding of internal audit. Provide a basic awareness of the principles of internal controls so:. You have an understanding of what we’re looking for as we conduct the audit. 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. &. Corporate Forensic . Services. Florida Government Finance Officers Association. 2013 . Annual . Conference. Agenda. Our View of Fraud Risk. Irregularities & Defalcations. Fraud Statistics. 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.. Pre-Audit . Presentation. Objectives of Presentation. Provide a basic understanding of internal audit. Provide a basic awareness of the principles of internal controls so:. You have an understanding of what we’re looking for as we conduct the audit. Extramurally . Sponsored . Programs . Internal Control Plan (ICP) . Guiding Principals . Mandated by . 2 CFR . §200.303 . - Internal Controls. Based on guidance in the Standards for Internal Control in the Federal Government (the GAO “Green Book”) and the Integrated Framework developed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) which include the following elements:. Department of Defense. Managers’ Internal Control . Program. Association of Military Comptrollers. Professional Development Institute Conference . . June 3, 2010. 2. 2. Purpose of Briefing. 2. Background/Current Environment. 1. FOSTER School of Business Acctg 320. Fig. 6-1. COSO’s ERMM. Overview. Questions to be addressed in this chapter:. What are the basic internal control concepts, and why are computer control and security important?. UNDERSTANDING AND IMPLEMENTATION STEPS. Presentation on Internal Financial Control (IFC). UNDERSTANDING OF INTERNAL FINANCIAL CONTROL. “Internal Financial Controls . over financial reporting” . mean…. Key Drivers for an Effective Control Framework. Parallel to Government Control Requirements. DOE Framework and Contractor . Requirements. SEC/Public Company Requirements. COSO Framework Maturity Over Time. Audits and Internal Controls Presented by: Tami Bidle, Financial Reporting Manager, Business Services/Controller Heather Lopez, Chief Audit Executive, Internal Audit August 22, 2017 1 Agenda Internal Control 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. Chapter 7. 7. -1. Learning Objectives. Explain basic control . concepts. Compare and contrast the COBIT, COSO, and ERM control frameworks.. Describe the major elements in the internal environment of a company.. -. The . practice of . the European Commission’s Internal Audit Service . Mr Mirco . Barbero. . European . Commission, IAS.C1. The Internal Control Framework (ICF) in the European Commission (EC).