Internal Controls: Keys to Avoiding the Worst-Case Scenario

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Assertions made by financial statements must be verifiable in order to safeguard a company’s assets. When internal controls are inadequate, however, the risk of fraud and financial misstatement grows. Avoid the worst-case scenarios by using financial analysis to spot heightened areas of risk and determine which tools can be used to keep financial statements accurate.

Basic Course Information

Learning Objectives

• Evaluate and develop effective internal controls by analyzing areas of heightened risk and implementing tools such as segregation of duties and monitoring to prevent fraud and financial misstatements.

 

 

Major Subjects

• Facts about fraud
  • Cryptocurrency
  • COVID
• Internal controls
• The control environment
• Monitoring
• Segregation of duties