CPE Credits: 2

Field of Study 1: Auditing

Program Level (Basic, Update, Intermediate, Advanced, Overview): Basic

Instructional Delivery Method: Group Internet Based

Course Registration Requirements: Online Registration

Refund/Cancellation Policy: Please contact the ACPEN help desk - 1-800-747-1719 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.

Complaint Resolution Policy: Please 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 addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org

There is simply no denying that a sufficiently designed and effectively operating system of internal controls over financial reporting is more important than everIn this course, we will use extensive exercises and case studies to reinforce fundamental theory through "real-life" scenarios that both internal and external accounting personnel performing internal control-related activities in a wide variety of industries will find beneficialThe program qualifies toward the 24-hour Yellow Book requirement.

OBJECTIVES: 

* Recognize the key components of a sound system of internal controls over financial reporting                                                                           * Compare and contrast an external auditor's responsibilities under various professional standards, including Yellow Book and A-133 compliance

HIGHLIGHTS:

* Design of internal controls for common classes of transactions for smaller entities                                                                                       * Identifying and evaluating the sufficiency of key controls to satisfy control objectives                                                                                   * How to verify whether an understanding of the design of internal controls has actually been "implemented"                                              * Case study on testing key controls to gain assurance about operating effectiveness                                                                          * The impact of internal control design and operating deficiencies on the risk of material misstatement related to financial statement audits * How control risk assessments impact the nature, timing and extent of substantive procedures in a financial statement audit                       * Emphasizing SAS 70 considerations when an entity uses an outside service organization                                                                               * Clarifying how the work of others can be leveraged by external auditors                                                                                                  * Communicating deficiencies in internal controls to appropriate parties * Comparing and contrasting an external auditor's responsibilities under various professional standards

DESIGNED FOR: Internal and external accounting/auditing personnel who have responsibility for designing, evaluating or communicating deficiencies in internal controls

 
PREREQUISITE: None
RECOMMENDED CPE: 2 credit hours
FIELD OF STUDY: Auditing
COURSE LEVEL: Basic
INSTRUCTOR:  Jennifer Louis, CPA