Defining Where and Why Internal Controls are Needed

Overview

Most organizations have many of the basic controls required to operate in place. However, a notably percentage of these companies do not have important measures that can help enhance security, productivity, and the quality of information available for decision making. In this session, we work to identify areas where important internal control measures are needed. We spend time explaining why these controls should be created and show, in detail, some specific controls that would be beneficial if utilized. Those wishing to strength an internal control system should consider this session strongly.

Highlights

Control design basics. Areas or segments of an enterprise to control. Controls to reduce risk. Controls to drive operations.

Prerequisites

None

Designed For

Accounting and other business professionals that would benefit by understanding how to strengthen an internal control system.

Objectives

Once participants have completed this session, they should be able to: Recall reasons to create controls such as to reduce errors, thwart fraud or enhance efficiency; Distinguish between proactively and reactively created measures, and Identify control type segments such as administrative or operation level measures.