Understanding Internal Control Constructs
Overview
Organizations of all sizes often fail to successfully install needed foundational components of an internal control system. Whether large or small, entities must view policies, procedures, and all controls in a wholistic manner in order to develop a system of controls that will keep the entity on its intended course. Moreover, those that design policies and procedures benefit by knowing why control measures are necessary. This session sets forth internal control concepts and explains the importance of strong internal control policies. It provides an understanding of the interrelated nature of all controls created by any organization.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Delivery Method: Individual webcast
CPE Credit: Accounting
Program Level: Intermediate
This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by CPA Crossings.
Highlights
The major topics covered in this course include:
- Underlying concepts of internal control
- The importance of control measure interdependency
Prerequisites
A basic understanding of Internal Control concepts
Designed For
Accounting and other business professionals that would benefit with greater understanding of internal control.
Objectives
After attending this presentation, you will be able to...
- Distinguish key internal control concepts, including the four types of internal control: preventive, detective, deterrent and compensating
- Determine how each control becomes a piece of an overall internal control structure
- Identify both organization-wide measures as well as more segmented controls and how these must co-exist
Preparation
None
Leader(s):
Leader Bios
Karl Egnatoff, Associate, Phoenix Beach, LLC
Karl Egnatoff, CPA, CITP, lives in Myrtle Beach, S.C. During the past 21 years, he has worked as a consultant, trainer and software engineer while engaging on projects for business organizations of all types. Prior to this work, Karl worked in public and private sector accounting for approximately six years. Before partnering with Pat Garverick to form Phoenix Beach, he presented and created material in association with K2 Enterprises for approximately seven years. During the course of his career, Karl has owned and operated a number of successful businesses, providing services to other organizations in the business community. The experience he garnered while serving these organizations helps him now as he writes and presents continuing professional education through Phoenix Beach. Karl is a member of the West Virginia Society of Certified Public Accountants, the American Institute of Certified Public Accountants (AICPA) and the Information Technology Section of the AICPA. He has also achieved a number of technology certifications including Microsoft Certified Professional (MCP), Certified Software Engineer (CSE) and Certified Integration Developer (CID). Karl graduated from Marshall University with a Bachelor of Business Administration degree. During his time in college, he participated in division I cross country, competing on the varsity squad. He was also on Marshall’s track team. Karl and his wife Lana have been married for 25 years. They have two grown sons, Jordan and Steven.
Non-Member Price $149.00
Member Price $149.00