Internal controls are often misunderstood by our coworkers as "things that get in the way."
But a good system of internal controls will support getting work done the right way and protect against the ultimate failure ? fraud. This session will review the intent and practical application of the COSO framework for maximum efficiency and protection.
Key Topics
- How do you define internal controls?
- Three objectives of internal controls
- The COSO Cube
- Elements of a Successful System
- Key Takeaways
Learning Outcomes
- Distinguish the five elements of internal controls
- Apply the principles of internal controls
- Identify the necessary ingredients of an effective system
Who Will Benefit
- Aspiring leaders and leaders of teams and organization