DESCRIPTION
With the changing times, there are new requirements imposed on businesses by various stakeholders. This has continued to rise over a period of time. As a result, more businesses are pushed towards establishing an internal control system that supports the achievement of stated objectives as a priority.
Despite its several advantages, for some businesses, it has been difficult to successfully devise an internal control strategy that is without loopholes and supports overall objectives set by the business. This CPE/CPD webinar is a key input provider in developing cost-effective internal controls for businesses that increases the efficiency of the business. This online webinar is designed to take the participant through the process of developing cost-effective internal controls for businesses.
This webinar covers the following key topics:
- Reviewing various internal control frameworks
- The COSO Framework for Internal Control
- Developing cost-effective internal controls for businesses
- Discussing how to review internal control design and efficiency
Successful development of a cost-effective internal control system and its implementation is balanced on a very thin line. Therefore it is tricky. The organizations that can develop and implement internal control can reap the following benefits for the business:
Key benefits-
- Increased shareholder value
- Better managerial decisions based on accurate and reliable financial and management information
- Assuring the interests of the company’s shareholders and the security of their investments
- Improved stakeholder perception
- Greater management of risk
- Implementation of robust, approved procedures
Learning Objectives:
- To identify the need for internal controls
- To recall different types of internal control frameworks and their application
- To recognize internal control documentation
- To identify the important part of the COSO Internal Control Framework and its components
- To recognize types of control relating to a single activity
Who Will Benefit:
- Company Owners, Directors, and those responsible for corporate governance
- Executives and Managers
- Accounting Managers and Supervisors
- Operations Managers and Supervisors
- Certified Public Accountants
- External Auditors
- Internal Auditors