PPT-Internal Control Workshop

Kenneth Wilson Associate Comptroller Deb Martin Internal Auditor Agenda Quiz on what you know Movie on applying internal control concepts in higher education Review answers to quiz Presentation reviewing concepts objectives and risk assessment. 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. 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.. Manager Training. Internal Control Officer: Kevin C Wilcox. Assistant Controller for Financial Controls: . Jonathan St Clair. Internal . Control Coordinator: Weisu Fudge. NOTE: This PowerPoint presentation is designed for the slides to advance automatically. However, you may still right click with your mouse and click on next or previous if you find it necessary to advance or repeat a slide. . 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. Daniel Adams. Inst. Audit & Advisory Services. About IAAS. Evaluate (internal) control processes. Monitor:. Compliance with policies, procedures laws and regulations. Means of safeguarding assets. 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?. Tom York. Tara Pritchett, CCSA. Internal Audit. March 4, 2016. Conducting a . First things first!. Please silence your cell phones. Feel free to ask questions and share ideas. Tara’s email address – . 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. 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. Green Book. Terenzio. . Volpicelli. , CPA, Partner. Tony . Roselli. , CPA, CGMA, Partner. . Roselli. , Clark and Associates. MA Municipal Accountants &Auditors Association Amherst, MA – March 13, 2017. control. Ascertaining the system. In the ascertaining the system cost auditor has to make himself . familier. with the system of internal control to know the flow of transaction and specific control procedure. -. 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). 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.