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Nebraska Society of CPAs
635 South 14th Street
Suite 330
Lincoln, Nebraska 68508
Phone: (402) 476-8482 (800) 642-6178
Fax: (402) 476-8731
Email: society@nescpa.org
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Internal Controls Design, Evaluation & Communication for Smaller Entities - NEW
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| Date |
August 31, 2010
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| Location | Mahoney State Park, Ashland, NE |
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| Course Time |
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8:30 a.m. to 4:30 p.m. |
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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 provides practical guidance on exactly what a sound system of internal controls “looks like” and the resulting impact on the financial statement audit.
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| Course Highlights & Objectives |
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Comparing and contrasting specific types of internal controls. Differentiating an auditor’s responsibilities, including GAAS, PCAOB and Yellow Book. Evaluating and communicating identified deficiencies in internal controls, the design and implementation of an entity's design on internal controls, including impact on assessment on risk of material misstatement and the results of tests of controls, including the impact on the nature, timing and extent of substantive audit procedures. Gaining an understanding of an entity’s design of internal controls. Key components of internal controls, and the important role each plays. Leveraging the work of others in evaluating the design and operating effectiveness of internal controls. Testing controls for operating effectiveness, including determining sufficiency and appropriateness of the nature, timing and extent of control testing procedures. The critical role of information technology (IT) controls in reliable financial reporting, including both general and application controls. The evolution of internal controls theory and practice, including emerging guidance specific to smaller entities.
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| Who Should Attend |
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| Accountants both in public and private practice responsible for designing, evaluating and/or monitoring internal controls over financial reporting. |
| Course Level | Intermediate |
| Prerequisites | None |
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| Discussion Leader | John P. Laschenski, Surgent McCoy, CPE LLC |
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| Additional Information: |
Parking is available on site and lunch is provided. Eligible for Yellow Book Credit. |
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| Fee |
$230 - Society Member
$260 - Society Nonmember |
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