Internal Control & Fraud Detection (CFDP)

Pre-requistes:

None

Knowledge Level:

Overview

Major Topics:

• The Principles of Internal Control
• Management Assessment of Internal Controls
• Audit of ICFR Integrated with Audit of Financial Statements
• Fraud Prevention and Detection

Learning Objectives:

• Identify the functions and limitations of internal control
• Cite the COSO principles of internal control
• Identify some common and important control procedures
• Distinguish between the IT general controls and application controls
• Recognize the implication and significance of the Sarbanes-Oxley Act
• Recognize key procedures involved in identifying risks and controls
• Cite key considerations for identifying and evaluating control deficiencies
• Recognize the requirements of management documentation of controls
• Identify factors in assessing the maturity level of a company’s internal control structure
• Identify the audit objectives, scope, and procedures applied to the integrated audit
• Cite fraud considerations in a financial statement audit
• Identify the most common schemes and fraud symptoms
• Recognize techniques to prevent and detect fraud

Designed For:

Those who want to assume a role in the design, implementation, maintenance, and evaluation of a framework of internal controls