Business leaders often view an internal control system as a security measure. However, a well-designed system can also drive entity objectives. Learn to design a robust and well-supported system, leveraging years of experience and key concepts from authoritative pronouncements and frameworks. Explore strategies to address new business challenges, including evolving markets, rapid changes in business, and increasing governmental and industry-based regulation. This course is for anyone working with internal controls.
Learning Objectives
• Identify important components/sub-components of a control system
• Recall important concepts such as “Risk Appetite”, “Framing Risk”, and “Risk Tolerance”
• Recognize how the control environment can help or hinder the operation of control measures in use at an entity
• Identify important steps that an organization can undertake, specifically related to control development that can drive the direction of the entity
Major Topics
• An overview of control frameworks and concepts
• Strategy considerations that can be incorporated into control development
• Understanding and controlling risk that arises when organizations change or choose not to
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