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Internal Controls Design, Evaluation and Communication for Not for Profits
Start Date (Local)
1/31/2013 12:00:00 PM Eastern (EST/EDT)
1/31/2013 2:00:00 PM Eastern (EST/EDT)
Field of Study
Auditing -- 2 Credits
Significant changes in the auditing industry have highlighted the necessity for all entities, regardless of nature, size and complexity, to have a well-designed and effectively operating system of internal controls over reliable financial reporting. This course will provide practical guidance on exactly what a sound system of internal controls looks like, and the resulting impact on the financial statement audit. The program qualifies towards the 24-hour Yellow Book requirement.
Upon completion of this course, participants will be able to: * Understand key components of internal controls and the important role each plays * Be able to test controls for operating effectiveness * Differentiate an external financial statement auditor's responsibilities related to internal controls depending on the professional or regulatory standards being followed