This course covers the essential tools you need to perform internal-control related services. It will take you through your clients' responsibility to design and implement programs and controls to prevent, deter, and detect fraud. It touches on internal control over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act. This course also covers Management's Antifraud Programs and Controls and the risk factors included in AU 240. The course provides useful indicators and checklists such as indicators of financial crime, the ACFE's fraud prevention checkup, internal control assessment form, computer applications checklist, and financial reporting information systems and controls checklist.
Delivery Method: Online Interactive Self Study
Advanced Preparation: None
Policies: Click here
Category: Accounting and Auditing
Field of Study: Auditing
Passing Score: 70%
For More Detail:
Chapter 1: Internal Control and the Internal Audit Function
1. Identify the purposes of internal auditing.
2. Identify the stages in the audit process.
3. Recognize the audit control environment.
4. Recognize what the internal audit report involves.
5. Identify the implication and significance of the Sarbanes-Oxley Act.
6. Define what is meant by "internal control over financial reporting" in accordance with Section 404 of Sarbanes-Oxley.
7. Differentiate between the new reporting model and historical reporting
For More Objectives:
CPA: Suitable for all CPAs
IRS: Enrolled Agents Program Number