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Internal Control - Testing for Operating Effectiveness

  • 09/08/2022
  • 12:30 PM - 2:30 PM
  • Webinar - CPA Crossings

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Properly designed and effectively operating internal control over financial reporting is critical for preventing, or detecting and correcting, material misstatement. This course describes how to satisfy the audit requirements related to taking a control reliance strategy by testing the operating effectiveness of internal controls, while promoting an effective and efficient financial statement audit.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Learning Objectives:

After attending this presentation you will be able to...
  • Discuss generally accepted audit requirements related to testing controls for operating effectiveness
  • Explain how to evaluate the results of a control reliance test for operating effectiveness
  • Describe the use of Service Organization Control (SOC1) Reports on a financial statement audit
  • Identify the impact of a control reliance strategy on a detailed audit plan

                                  Program Content:

                                  The major topics covered in this class include:

                                  • Generally accepted audit requirements related to testing controls for operating effectiveness
                                  • Identifying key controls that may prove effective and efficient to test in a control reliance strategy
                                  • Responses when deviations are discovered when evaluating the design or operating effectiveness of internal control
                                  • Leveraging audit evidence available for Service Organization Control (SOC1) Reports
                                  • General computer control considerations when evaluating the design and operating effectiveness of internal control over financial reporting

                                                                Designed for: Accountants who have responsibility for evaluating the design and operating effectiveness of controls in a financial statement audit

                                                                Level: Basic

                                                                InstructorJennifer F. Louis, CPA

                                                                Developer: Emergent Solutions Group LLC

                                                                CPE Credits: 2

                                                                Area of Study: Auditing

                                                                Prerequisite: None


                                                                Visit Us:

                                                                3100 South Columbia Road
                                                                Suite 500
                                                                Grand Forks, ND 58201

                                                                Contact Us: 

                                                                 (701) 775-7111
                                                                or (877) 637-2727
                                                                Email: info@ndcpas.org

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