GAIN AN UNDERSTANDING OF:
What internal controls are
Why internal controls are important
Preventative and detective internal controls
Important control concepts
Key controls in various processes:
Cash receipts
Cash disbursements
Payroll
Journal entries
PERFORM:
Basic internal controls in various processes, including:
Reconciliations
Detailed reviews
Journal entries
After learning about risk yesterday, we will not look at how to manage those risks through internal controls
We’ll go over the basics of internal controls in this module, including the key controls in a number of common processes. We’ll then do practice problems and case studies where we are actually performing the controls that are embedded in many companies.