This session explores the importance of internal controls with an emphasis on best practices for small- and medium-sized entities. We will examine the roles of both preventive and detective controls and practical, cost-effective suggestions for implementing effective internal controls will be addressed.
DESIGNED FOR
CPAs in public practice and accountants in industry who want to enhance their awareness of practical internal controls for small- and medium-sized entities
BENEFITS
- Recognize the importance of internal controls
- Appreciate nuances of internal controls for small and medium-sized entities
- Distinguish controls as either preventive or detective
- Identify useful controls for organizations that have limited resources
HIGHLIGHTS
- Overview of controls
- Preventative controls
- Detective controls
- Controls for SMEs
PREREQUISITES
A basic understanding of financial statement audits
ADVANCE PREPARATION
None