• Course Information

    Title: Government Auditing - Green Book: 3. Information and Communication, and Monitoring
    Category: Accounting and Auditing
    Field of Study: Auditing - Governmental
    Course Code: A019-0434
    CPE Credits: 3.0
    Price: $27.95
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Description

Description:
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 effective information, communication system and monitoring of the government internal control framework, as discussed within the GAO Green Book. Effective information and communication systems are a key component of an effective system of internal controls. Effective internal control monitoring assesses the effectiveness of control performance over time and promptly resolves identified weaknesses. These ongoing control evaluations, and corrective actions, are necessary to achieve objectives because they help ensure an effective system of internal controls is in place and operating effectively to mitigate any risks. Together, information, communication, and monitoring support the functioning of the other key components: the control environment, risk assessment, and control activities.

Delivery Method:

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: 02/06/2019

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Objectives

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

Chapter 2     Information and Communication
1. Identify the 3 principles expected to be present in an effective system of information and communication per the GAO Green Book standards.
2. Identify the attributes the GAO expects to be associated with each of the 3 principles as per the GAO Green Book standards.
3. Recognize what the 3 principles and their attributes represent and how to apply them in developing and maintaining effective systems of information and communication.
4. Recognize examples of the 3 principles and their GAO expected attributes.

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

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