• Course Information

    Title: Government Auditing - Green Book: 2. Risk Assessment and Control Activities
    Category: Accounting and Auditing
    Field of Study: Auditing (Governmental)
    Course Code: A016-0433
    CPE Credits: 5.0
    Price: $43.95


Standards for Internal Control in the Federal Government, known as the "Green Book," sets the standards for an effective internal control system for federal agencies. This course covers the risk assessment and control activities, as discussed within the GAO Green Book. Management of any governmental agency should assess the risks facing its organization as it seeks to achieve the organization's objectives. This assessment will provide the basis for developing appropriate risk responses. Control activities are the actions management establishes through policies and procedures to achieve objectives and respond to risks, which includes actions to address risks associated with the entity's information system.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

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Course Details

Author: Delta Publishing

Category: Accounting and Auditing

Field of Study: Auditing (Governmental)

Passing Score: 70%

Publication Date: 12/15/2016

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Chapter 1     An Effective System of Internal Controls
1. Recall the definition of internal control and systems of internal control.
2. Recognize the 3 main categories of an entity's objectives and who is responsible meeting these objectives with an effective system of internal controls.
3. Recognize/Identify the 5 main components and their 17 principles of the GAO's framework of internal controls and their similarity to COSO's framework.
4. Recall the legislation leading to the GAO's Green Book standards and recall what COSO represents.

Chapter 2     Risk Assessment
1. Recognize how to apply the GAO Green Book standards for risk assessment.
2. Identify the 4 principles present in an effective risk assessment process per the GAO Green Book standards.
3. Identify the attributes of each of the 4 principles as per the GAO Green Book standards
4. Recognize how to define objectives and risk tolerances
5. Recognize examples of the attributes associated with each of the 4 principles.
6. Recognize the possible risk responses.
7. Recognize common fraud risk

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QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

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